Dr John Coustas’ Danaos Corporation is fully shielded against the weak containership market, securing, in fact, new long-term charters, while growing its footprint in the bulk carrier industry.
In its third-quarter results announcement, the US-listed company revealed that fleet coverage in charters reached 100% for the remainder of 2023, and 90.3% for 2024.
“The resilience of our business model is confirmed by the strong results despite the significant drop in the freight market,” the company’s CEO, Dr John Coustas, underlined.
The company’s total revenue from charter contracts has risen to 2.5 billion dollars in nine months, while the average remaining duration of the agreements is 3.2 years.
The company controls 68 containerships, with a total capacity of 421,293 TEUs, while implementing a shipbuilding program for 10 more, with a capacity of 74,914 TEUs.
Moreover, Danaos Corporation confirmed the purchase of two more capesize dry bulk vessels, which “Naftemporiki” has reported in previous articles.
