Welcome to our dedicated page for Danaos Corporation news (Ticker: DAC), a resource for investors and traders seeking the latest updates and insights on Danaos Corporation stock.
Danaos Corporation (NYSE: DAC) maintains its position as a leading owner and operator of container and drybulk vessels through strategic fleet management and long-term charters. This news hub provides investors with essential updates on operational developments, financial disclosures, and maritime industry trends directly impacting the company.
Access consolidated reports covering quarterly earnings, vessel acquisitions, charter agreements, and sustainability initiatives. Our coverage emphasizes DAC's dual-segment strategy in container shipping and drybulk transportation, offering insights into how the company navigates global trade dynamics.
Key updates include newbuild deliveries, charter rate negotiations, and operational efficiency metrics. Bookmark this page for real-time notifications about fleet expansions, partnership announcements, and regulatory compliance developments affecting maritime logistics.
Danaos , a leading independent owner of containerships, announced significant updates to its contracted revenue backlog and vessel orders. The company has added $616 million to its contracted revenue backlog, comprising $203 million from two-year charter fixtures for nine existing vessels and $413 million from charter fixtures for five newbuilding orders. The new vessels, costing $509 million, include one 8,258 TEU vessel and four 9,200 TEU vessels, set for delivery between 2027 and 2028 from Chinese shipyards. These ships will feature advanced eco-designs and comply with the latest IMO standards. Danaos' total contracted cash operating revenues now stand at $2.9 billion, with an average charter duration of 3.1 years. The company's fleet's contracted operating days are covered 99% for 2024 and 80% for 2025.
Danaos (NYSE: DAC), a leading owner of container and drybulk vessels, reported its unaudited first-quarter results for 2024.
Key financial metrics include operating revenues of $253.4 million, a 4% increase from Q1 2023. Net income was $150.5 million, or $7.68 per diluted share.
Adjusted EBITDA decreased slightly to $177.2 million from $179.0 million in Q1 2023. The company acquired 7 Capesize drybulk vessels, contributing $20 million in new operating revenues. Vessel operating expenses rose to $43.1 million.
As of March 31, 2024, Danaos had $747.6 million in total liquidity, including cash, equivalents, and marketable securities. The company also secured $450 million in financing for newbuildings and declared an $0.80 dividend per share for Q1 2024, payable on June 20, 2024.
Total contracted cash operating revenues stand at $2.5 billion with an average charter duration of 2.9 years.
Danaos (NYSE: DAC) will release its first quarter 2024 results on May 28, 2024, followed by a conference call. The company owns 69 containerships with 434,268 TEUs and is expanding its fleet. Danaos' shares trade on the NYSE under the symbol 'DAC'.
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