Danaos reports Q1 adjusted EPS $6.72 vs $60.04 last year

Reports Q1 revenue $253.7M vs $253.07M last year. “This quarter was shaped by the unprecedented events in the Gulf and the closure of the Strait of Hormuz, a situation that is still unfolding but which we hope will be resolved in the coming weeks,” said Danaos (DAC) CEO John Coustas. “The disruption has primarily benefited the tanker sector, where rates spiked sharply before quickly normalizing. In the container sector, the disruption helped stabilize and lift certain box rates, however it did not have a significant effect. Two of our vessels currently remain in the Gulf, but this does not affect our earnings as both vessels continue to be on charter.”