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Danaos Corporation Expands Its Fleet and Revenue

Danaos Corporation (NYSE: DAC), one of the premier independent owners of containerships globally, has announced substantial developments in its operations that underline its strong position in the maritime industry. On September 30, 2025, Danaos revealed an impressive addition of $304 million to its contracted revenue backlog, along with plans to build two additional containership vessels. This strategic move not only enhances their fleet capacity but also bolsters their revenue prospects significantly.

Breakdown of Contracts and Future Orders

In detail, the revenue backlog expansion stems from two key sources:
1. Approximately $164 million from future charter fixtures related to four existing vessels.
2. About $140 million derived from new charters for the two newbuilding containership orders, each secured with a five-year charter agreement.

These new orders consist of two additional 7,165 TEU container vessels that will be constructed at the Dalian Shanhaiguan shipyard in China, with expected deliveries in the third quarter of 2027. The company has ensured that these vessels will comply with the latest ecological standards, being methanol fuel ready and equipped with open loop scrubbers as well as Alternative Maritime Power (AMP) units. Additionally, they will align with the International Maritime Organization's (IMO) Tier III emission standards, showcasing Danaos' commitment to sustainability in shipping.

As a result of these recent endeavors, Danaos' total contracted cash operating revenues now stand at a remarkable $3.6 billion. Furthermore, the average duration of these contracted charter agreements is approximately 3.9 years, reinforcing the financial stability that Danaos is building.

Operational Metrics and Fleet Status

Danaos is pleased to report that its container vessel fleet's charter coverage is nearing 100% for 2025 and projected at 90% for 2026, which includes the availability of the newbuildings based on their scheduled delivery dates. As of the latest report, Danaos has 18 container vessels under construction, totaling a capacity of 148,564 TEU. The company enjoys a substantial total pro-forma containership capacity of 620,041 TEU, signaling its robust market presence.

Upcoming vessel deliveries include one newbuilding in the remaining months of 2025, along with three in 2026, twelve in 2027, and two additional vessels in 2028, further enhancing their fleet in the coming years.

Leadership Insights and Future Directions

Dr. John Coustas, CEO of Danaos Corporation, expressed his satisfaction regarding the recent developments, stating, "We are very pleased to announce the commissioning of two additional containerships that are at the forefront of new technology. With this new order, Danaos continues to solidify its position as one of the major players in the global containership market and takes another step towards fleet modernization." He also highlighted the significance of the newly added revenue, which enhances earnings and cash flow visibility, emphasizing the company’s ongoing commitment to maximizing profitability and shareholder value.

About Danaos Corporation

Danaos Corporation stands as one of the largest independent operators in the container shipping sector with a current fleet of 74 container vessels, collectively aggregating 471,477 TEUs. The company is also expanding its investments into the dry bulk market, having acquired ten capesize bulk carriers with a total weight capacity of 1,760,861 DWT. With a focus on efficiency and environmental safety, Danaos continues to retain a leading position among global charter owners, with its shares prominently listed on the New York Stock Exchange under the symbol DAC.

For further information on Danaos Corporation and its services, please visit their official website at www.danaos.com.