Recently, Greek container ship owner Danaos confirmed the addition order for two 7,165 TEU container vessels with locked in new charter revenue of $304 million.
The Nasdaq-listed company stated that approximately $164 million stems from forward charter agreements for four existing vessels, while an additional $140 million is tied to newbuilding projects, with each new vessel securing a five-year charter.
The new order has been awarded to Shanhaiguan Shipbuilding Industry Co., Ltd. (SHGSIC) under CSSC Dalian Shipbuilding Industry Company (DSIC). The vessel is scheduled for delivery in the third quarter of 2027. The new vessel will incorporate methanol fuel-ready design, featuring an open scrubber and shore power system to comply with the International Maritime Organization’s (IMO) Tier 3 nitrogen oxide emission standards and the Energy Efficiency Design Index (EEDI) Tier 3 requirements.
This order brings Danaos’ total newbuildings to 18 vessels, with total capacity expected to rise to 620,000 TEUs. The delivery schedule is as follows: 1 vessel in the second half of this year, 3 vessels in 2026, 12 vessels in 2027, and 2 vessels in 2028.
As of now, Danaos’ contracted revenue backlog has reached $3.6 billion, with an average remaining lease term of 3.9 years. Operational day coverage will approach 100% in 2025 and reach 90% in 2026.
Chief Executive Officer John Coustas stated: “We are thrilled to place these two additional orders for newbuilds equipped with cutting-edge technology. Through these new orders, Danaos continues to solidify its position as a key player in the global container shipping market and takes a significant step forward in modernizing its fleet.”
Danaos currently operates a fleet of 74 container vessels with a total capacity of 471,000 TEUs, with an additional 18 newbuild orders on order. The company has also diversified its operations by managing 10 capesize bulk carriers with a combined deadweight tonnage of 1.76 million tons.