Danaos Corporation - DAC STOCK NEWS

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.

Danaos Corporation (NYSE: DAC) will release its third-quarter results for the period ended September 30, 2020, on November 5, 2020, after market close. The management team will discuss the results during a conference call on November 6, 2020, at 9:00 A.M. ET. Participants can join the call by dialing specific numbers provided for U.S., U.K., and international callers. The call will also be available via a live audio webcast on the company's website, with an archived version accessible within 48 hours.

Danaos Corporation (NYSE: DAC) has successfully repurchased 4,339,271 shares of its common stock for a total of $31.1 million in private transactions. This includes 2,517,013 shares acquired from the Royal Bank of Scotland and 1,822,258 shares from Sphinx Investment Corp. Following this move, the company will terminate its previously announced share repurchase program.

Danaos Corporation (NYSE: DAC) reported strong financial results for Q2 2020, with adjusted net income increasing by 23.9% to $42.5 million, or $1.71 per share. Operating revenues rose 4.0% to $116.8 million, despite a slight decline in revenue for the first half of the year. The company maintains a robust charter backlog of $1.2 billion and 85% charter coverage for the next 12 months. CEO Dr. John Coustas noted improving demand and charter rates in the container shipping market, amid challenges posed by the COVID-19 pandemic.