Danaos Corporation reports news as a NYSE-listed shipping company that owns modern, large-size containerships and has expanded into drybulk vessels. Its updates commonly cover quarterly and annual results, conference calls, Form 20-F availability, and segment reporting for container vessels and drybulk vessels.
Company developments also address fleet composition, containership newbuilding orders, capesize and Newcastlemax drybulk investments, fixed-rate charters with major liner companies, contracted revenue backlog, and financing or strategic initiatives tied to maritime transportation assets.
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'.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.