Danaos extends boxship order

The Greek shipping company Danaos has extended its shipbuilding contracts with China Shipbuilding Trading Company to include one more 8,530 TEU vessel, bringing the total number on order to five vessels. All five Post Panamax containerships will be built by the Shanghai Jiangnan Changxing Heavy Industry Company and are expected to be delivered between August 2010 and February 2011. Danaos has also arranged for a large international liner company to charter all these vessels for 12 years each at accretive rates.