Danaos orders two methanol-ready containerships

The vessels will be built at Dalian Shipbuilding in China and are expected to be delivered to Danaos in the second and third quarter of 2024. The counterparties of Danaos to the shipbuilding contracts, Dalian Shipbuilding and CSTC are both subsidiaries of CSSC.

The vessels will be methanol fuel ready and will be built in accordance with the latest requirements of the IMO in relation to Tier III emission standards and Energy Efficiency Design Index (EEDI) Phase III.

CEO, Dr. John Coustas, said: “We are very pleased to announce the commissioning of two 7,100 TEU containerships. These vessels are at the forefront of new technology, come with the latest specifications on emissions requirements and are methanol ready. With this order Danaos continues to solidify its position as one of the major players in the containership market worldwide. We will continue to work to maximize our profitability and secure more accretive transactions with a focus on creating value for our shareholders.”

In January, Danaos announced that it had entered into new charter arrangements for 11 of its vessels ranging between 2,500 to 10,000 TEU with major liner companies, significantly improving cash flow visibility and charter coverage. The charters, which have a revenue weighted average contract duration of 4.7 years commence on the expiration of the vessels’ existing charters between February 2022 and April 2023 and extend up to May 2028. The company also entered into an agreement to sell two 20-year-old 6,422 TEU vessels for US$130 million. The vessels are expected to be delivered to their buyer in November 2022.