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 reported impressive first-quarter results for 2021, with adjusted net income soaring to $58.0 million ($2.83 per share), up 74.2% from $33.3 million ($1.34 per share) a year prior. Operating revenues increased 24.4% to $132.1 million. Adjusted EBITDA rose by 33.9% to $96.3 million. The company has established a quarterly dividend of $0.50 per share, payable on June 9, 2021. With 91% charter coverage for the next 12 months and total contracted revenues of $1.2 billion, Danaos is positioned for continued growth.
Danaos Corporation (NYSE: DAC) announced it will release its first-quarter results for the period ending March 31, 2021, after market close on May 10, 2021. A conference call to discuss the results will be held on May 11, 2021, at 9:00 A.M. ET. Participants can join the call by dialing in 10 minutes prior to the start time. A telephonic replay will be available until May 18, 2021, and an audio webcast will be accessible on the company's website.
Danaos operates a fleet of 65 containerships with a total capacity of 406,586 TEUs, positioning itself as a major player in the industry.
Danaos Corporation (NYSE: DAC) has successfully completed a $1.25 billion refinancing of its senior secured debt. The refinancing includes an $815 million credit facility, a $135 million sale leaseback agreement for five vessels, and proceeds from a $300 million bond offering. This restructuring streamlines the capital structure, extending debt maturities until at least 2025 and improving cash flow generation. CEO Dr. John Coustas emphasized that this achievement marks a new era for the company and enhances its ability to pursue growth strategies.
Danaos Corporation (NYSE: DAC) announces the passing of Robert A. Mundell, a key member of its Board of Directors from 2006 to 2015. Mundell, a renowned economist, was instrumental in the development of the Euro and supply-side economics, receiving the Nobel Prize in 1999 for his contributions. His innovative thinking profoundly influenced international monetary arrangements. The company expresses its condolences to his family, highlighting his legacy on both the board and in the field of economics.
Danaos Corporation (NYSE: DAC) has filed its Annual Report on Form 20-F for the year ended December 31, 2020, with the Securities and Exchange Commission. The report can be accessed on the company's website, www.danaos.com. Danaos is one of the largest independent owners of containerships, operating a fleet of 65 vessels with a total capacity of 403,793 TEUs. The company maintains fixed-rate charters with major liner companies, highlighting its strong position in the global shipping industry.
Danaos Corporation (NYSE: DAC) reported solid financial results for Q4 and the full year of 2020, showing a significant rise in adjusted net income to $47.8 million ($2.29 per share), up 25.8% year-over-year. Full-year adjusted net income rose to $170.9 million ($7.18 per share), a 14.9% increase. Operating revenues increased by 8.5% for Q4 and 3.2% for the full year, reaching $119.6 million and $461.6 million, respectively. The company also holds $1.2 billion in contracted operating revenues with strong charter coverage. CEO John Coustas highlighted improvements in the charter market and future revenue expectations exceeding $100 million above 2020 figures.
Danaos Corporation (NYSE: DAC), a leading independent owner of containerships, will announce its fourth quarter results on February 15, 2021, after market close. A conference call to discuss these results is scheduled for February 16, 2021, at 9:00 A.M. ET. The company operates a fleet of 65 containerships with a total capacity of 406,586 TEUs, chartered to major global liner companies on fixed-rate agreements. Danaos' operational success is driven by stringent efficiency and environmental standards.
Danaos Corporation (NYSE:DAC) has announced the pricing of $300 million in 8.500% senior unsecured notes due 2028. The offering is part of a $1.25 billion refinancing plan for a substantial majority of its outstanding senior secured debt. The proceeds will be combined with an $815 million senior secured credit facility and a $135 million sale leaseback arrangement. The offering is expected to close around February 11, 2021. Danaos owns a fleet of 65 containerships, ranking among the largest charter owners globally.
Danaos Corporation (NYSE: DAC) announced an offering of up to $300 million of senior unsecured notes due 2028, subject to market conditions. The funds from this offering, along with a new $815 million credit facility and a $135 million sale leaseback arrangement, are intended for a $1.25 billion refinancing of a significant portion of its existing senior secured debt. The notes will be offered in a private placement exempt from registration under the Securities Act, and are not available for sale in certain jurisdictions.
Danaos Corporation (NYSE: DAC) reported strong financial results for Q3 and the first nine months of 2020. Adjusted net income rose by 24.8% to $47.3 million, or $1.91 per share, for the third quarter, and increased 11.2% to $123.1 million, or $4.97 per share, for nine months. Operating revenues reached $118.9 million in Q3, up 6.4%, and $341.9 million year-to-date, a 1.5% increase. Total contracted operating revenues stand at $1.1 billion with charter coverage of 87% for the next year. Share repurchase of 4.3 million shares at $31.1 million was also executed, enhancing shareholder value.
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