Welcome to our dedicated page for Danaos news (Ticker: DAC), a resource for investors and traders seeking the latest updates and insights on Danaos stock.
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 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.
Danaos Corporation (NYSE: DAC), a leading independent containership owner, announced it will release its second-quarter results for the period ending June 30, 2020, on August 3, 2020, after market close. Following the announcement, a conference call will be held on August 4, 2020, at 9:00 A.M. ET to discuss the results. Participants can join via specific toll-free numbers or an audio webcast available on the company's website, which will also host a replay of the call until August 11, 2020.