Hyundai gets Danaos trio

Danaos Corporation in Greece has ordered three post-Panamax 10,100 teu containerships from Hyundai Samho Heavy Industries for delivery in January, February and March of 2011. Danaos has also arranged for a large international liner company to charter all these vessels for 12 years each, at accretive rates.

This deal increases Danaos’ contracted fleet of newbuildings to 34 vessels with a total carrying capacity of 243,468 teu or 160% of its current fleet. The total contract value for these three vessels is approximately $450 million and will be financed by own funds and debt.

In addition, on 26 November Danaos took delivery of its 37th container ship from Samsung Heavy Industries’ shipyard. The ?YM Vancouver? immediately commenced its 12 year charter with Yang Ming Lines.