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.
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.