Danaos(US:DAC)2025-08-05 13:00Business Highlights - Danaos has a charter backlog of $3.6 billion through 2033 with world leading liner companies[6] - The company has secured multi-year chartering agreements for all sixteen newbuilding vessels[6] - The company has re-entered the dry bulk segment with the acquisition of 10 Capesize bulk carriers[6] - Danaos met the IMO 2030 carbon intensity targets 11 years ahead of requirements in 2019 and continues to meet the target with a 51.4% reduction in CO2 emissions per ton miles for year 2024[6] - The company has repurchased 2,937,158 shares in the open market for $205.7 million under the recently upsized $300 million authorized share repurchase program[6] - The current order-book, of about 31.4% of existing TEU capacity with deliveries through 2028, is expected to be mitigated by reduction in the average service speed of the global fleet due to environmental regulations already in effect[6] Financial Performance (as of June 30, 2025) - The company's cash and cash equivalents were $546 million[7] - The company's liquidity was $924 million, including cash and cash equivalents, available and undrawn credit commitment, and marketable securities[7] - The company's net debt to LTM 2Q 2025 adjusted EBITDA ratio was 0.31x, with net debt of $224 million and adjusted EBITDA of $716 million[7] - For the three months ended June 30, 2025, container vessel revenues were $239.446 million and dry bulk vessel revenues were $22.708 million[8]