Danaos adds $616M to contracted revenue backlog

Danaos Corporation announced that it has added $616M to its contracted revenue backlog and has added an extra five newbuilding containerships to its orderbook. The contract revenue backlog additions include approximately $203M of forward two-year charter fixtures for nine of its existing vessels and approximately $413M of charter fixtures for the new five newbuilding orders with an average charter duration of 4.8 years weighted by aggregate contracted charter hire. The five newbuilding orders with an aggregate contract price of $509M comprise of one additional 8,258 container vessel to be built at Yangzijiang shipyard in China expected to be delivered in 2027 and four 9,200 TEU container vessels to be built at Dalian shipyard in China, three of which have expected deliveries in 2027 and one vessel in 2028. All five vessels are designed with the latest eco characteristics, will be methanol fuel ready, fitted with open loop scrubbers and Alternative Maritime Power units and will be built in accordance with the latest requirements of the International Maritime Organization in relation to Tier III emission standards and Energy Efficiency Design Index Phase III. As a result of the recent activity, total contracted cash operating revenues, on the basis of concluded charter contracts through the date of this release, currently stand at $2.9B. The remaining average contracted charter duration is 3.1 years, weighted by aggregate contracted charter hire.