Danaos cancels three newbuildings

The agreement has been reached with the consent of Yang Ming Line who was the charterer of these vessels. Danaos is building another six large containerships with Hanjin Heavy Industries all of which are fully funded by already committed loan facilities from various commercial banks. The cancellation forms part of an overall plan to address the total capex funding needs.

Danaos has a current fleet of 44 containerships aggregating 190,229 TEUs which ranks it among the largest containership charter owners in the world based on total TEU capacity. Furthermore, the company has a contracted fleet of 21 additional containerships aggregating 172,450 TEU with scheduled deliveries up to 2012.