Danaos orders three 10,100-TEU ships from Hyundai Heavy Industries

2007-12-14

Greece's Danaos Corporation says it has ordered three 10,100-TEU postpanamax containerships. All three will be built by Hyundai Samho Heavy Industries and are expected to be delivered in the first quarter of 2011.

Danaos also announced that it has arranged for a "large international liner company," which it declined to name, to charter all three ships for 12 years at accretive rates.

This latest deal increases Danaos' contracted fleet of newbuilds to 34 vessels, with a total carrying capacity of 243,468 TEU or 160 per cent of its current fleet.

Said Danaos CEO John Cousta: "With this deal we have not only managed to increase our contracted fleet to 34 containerships, but also secure long-term charters for all of our vessels currently comprising our contracted fleet. Our current contracted revenue has now reached US$7.1 billion."

The international containership owner and ship chartering company said it will pay approximately $450 million for the three 10,000-TEU newbuilds. Danaos estimates that following delivery, the three new containerships will collectively contribute $51 million annually in additional EBITDA.

In a related development, Danaos said it took delivery of its 37th containership on November 26, which was built by Samsung Heavy Industries. This brings the corporation's total fleet size to 151,725 TEU.

The 4,253-TEU newbuild, named YM Vancouver, has already commenced its 12-year-charter with Yang Ming Lines, the company release added.


Source: schednet
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