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.
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Danaos Corporation (NYSE: DAC) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2022, with the Securities and Exchange Commission. The report can be accessed on the company's website. Danaos is noted for being one of the largest independent owners of containerships, managing a fleet of 68 vessels with a total capacity of 421,293 TEUs, plus 6 new ships under construction. The company's charter agreements are largely fixed-rate with major liner companies, emphasizing its strong operational standards and environmental controls.
Danaos Corporation (NYSE: DAC) reported robust financial results for Q4 and the year ended December 31, 2022, showcasing a significant increase in adjusted net income of $141.6 million ($6.99 per share) for Q4, up 12.6% YoY, and $711 million ($34.68 per share) for the year, up 96.2% YoY. Operating revenues reached $252.5 million for Q4 and $993.3 million annually, marking increases of 17.4% and 44.1% respectively. The company has declared a quarterly dividend of $0.75 per share, payable March 14, 2023. Despite a strong performance, CEO Dr. John Coustas warned of declining container market conditions ahead, with challenges anticipated in 2023.
Danaos Corporation (NYSE: DAC) will announce its fourth-quarter results for the period ending December 31, 2022, after market close on February 14, 2023. A conference call discussing these results is scheduled for February 15, 2023, at 9:00 A.M. ET. Participants can join by dialing specific numbers or listening via a live audio webcast on the company's website. Danaos operates one of the largest fleets of containerships, with a total of 68 vessels and an additional 6 under construction, providing fixed-rate charters to major liner companies worldwide.
Danaos Corporation (NYSE: DAC) has announced plans to repurchase $37.234 million of its 8.500% unsecured senior notes due 2028 through a privately negotiated transaction. This move is expected to enhance shareholder value by reducing outstanding debt. Danaos is among the largest independent owners of containerships, operating a fleet of 69 vessels with a total capacity of 423,745 TEUs. The company remains committed to operational excellence and maintaining strong relationships with charterers.