December 10, 2007
Danaos orders three at Hyundai Samho
Athens-headquartered Danaos Corporation (NYSE:DAC) has ordered three 10,100 TEU containerships. They will be built by Hyundai Samho Heavy Industries with deliveries set for January, February and March of 2011.
Danaos reports that a large international liner company is to charter the trio for 12 years each, at accretive rates.
The deal takes the Danaos contracted fleet of newbuildings to 34 ships with a total carrying capacity of 243,468 TEU or 160% of its current fleet.
Danaos says the total contract deal size for these three vessels is approximately $450 million and will be financed by own funds and debt. Upon delivery, this three vessel block addition to Danaos' fleet of containerships is expected to contribute annually approximately $ 51 million of additional EBITDA.