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) is one of the largest independent owners of modern, large-size container vessels and also owns Capesize drybulk vessels. This news page aggregates company announcements and third-party coverage so readers can follow how Danaos’ containership and drybulk operations evolve over time.
Recent press releases highlight quarterly and year-to-date financial results, including operating revenues, net income, adjusted net income and adjusted EBITDA for the container vessels and drybulk vessels segments. Danaos also reports time charter equivalent revenues and per-day metrics, fleet utilization, and details about its cash, debt, marketable securities and net debt to last twelve months Adjusted EBITDA ratio.
News items frequently cover fleet developments, such as additions to the newbuilding containership orderbook, deliveries of new vessels and acquisitions of Capesize drybulk vessels. The company provides updates on its contracted revenue backlog, multi-year charter arrangements, and contracted operating days charter coverage for upcoming years, reflecting the extent to which its fleet is employed under fixed-rate charters with major liner companies.
Capital markets and corporate governance updates also feature prominently. Danaos has announced offerings and pricing of senior notes, intentions for the use of proceeds, and changes in its board of directors and committee memberships. Investors can use this news feed to monitor how Danaos manages its fleet growth, charter strategy, financing activities and governance matters, and to see how these factors are described in the company’s own communications.
Danaos (NYSE: DAC) announced its financial results for Q2 and H1 2024. The total operating revenues for Q2 were $246.3 million, up 2% from Q2 2023. Net income for Q2 2024 was $141.2 million, a slight decline from $147 million in Q2 2023. Earnings per diluted share decreased to $7.23 from $7.32. The company reported $3.2 billion in contracted operating revenues and a robust balance sheet with $786.7 million in total liquidity. Danaos secured multi-year charters for its new vessels and expanded its newbuilding program to 20 vessels, emphasizing eco-friendly designs. For H1 2024, net income was $291.7 million, down from $293.2 million in H1 2023. Operating expenses rose significantly, impacting adjusted EBITDA, which stood at $176.8 million for Q2 2024, down slightly from $177.3 million. Danaos also repurchased shares worth $104.4 million and declared a $0.80 per share dividend, payable on August 29, 2024.
Danaos (NYSE: DAC), a leading independent owner of containerships, has announced the release date for its Q2 2024 financial results. The company will disclose its results on August 5, 2024, after the New York market closes. A conference call and webcast are scheduled for August 6, 2024, at 9:00 A.M. ET to discuss the results.
Danaos currently owns a fleet of 70 containerships with a total capacity of 442,278 TEUs, with an additional 16 vessels under construction adding 129,819 TEUs. The company has also expanded into the drybulk sector, acquiring 10 Capesize vessels with a total capacity of 1,760,861 DWT. Danaos charters its vessels to major liner companies on fixed-rate contracts.
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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