Contact Information: Contact: For further information please contact: Dimitri Andritsoyiannis Vice President and Chief Financial Officer Danaos Corporation Athens, Greece Tel: +30 210 419 6481 E-Mail: cfo@danaos.com Iraklis Prokopakis Vice President and Chief Operating Officer Danaos Corporation Athens, Greece Tel. +30 210 419 6400 E-Mail: coo@danaos.com Investor Relations and Financial Media: Nicolas Bornozis President Capital Link, Inc. New York Tel. 212-661-7566 E-Mail: nbornozis@capitallink.com
Danaos Corporation Arranges Charters Even for Fully Depreciated Vessels
| Source: Danaos Corporation
ATHENS, GREECE--(Marketwire - March 10, 2008) - Danaos Corporation (NYSE : DAC ) today
announced that it has signed an agreement with MCC, a subsidiary of MAERSK,
and has already time-chartered the 30-year-old S.A. Helderberg, a 3,100 TEU
containership, for a period of 12 months beginning December 2007 at fixed
daily rates. Danaos also time-chartered its sister ship, the S.A.
Sederberg, to CMA-CGM at a fixed one-year accretive rate. The Company also
sold the other 30-year-old sister ship to the above-mentioned vessels, the
S.A Winterberd, to an undisclosed and unrelated third party for
approximately $11m booking profits in excess of $5.5m as a result of this
transaction. Further, Danaos announced that it has re-chartered the
30-year-old Eagle Express to MSC and the Pacific Bridge to Senator Lines
both for two years at accretive rates.
"We are very pleased to have managed to arrange these charters," said Dr.
John Coustas, Chief Executive Officer of Danaos. "The specific charters are
very important to Danaos as they demonstrate that well-maintained
containership vessels can secure accretive charter arrangements for periods
beyond their depreciable life when market conditions permit."
About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering
its vessels to many of the world's largest liner companies. Our current
fleet of 36 containerships aggregating 145,318 TEUs ranks Danaos among the
largest containership charter owners in the world based on total TEU
capacity. Danaos is the largest US listed containership company based on
fleet size. Furthermore, the company has a contracted fleet of 36
additional containerships aggregating 247,868 TEU with scheduled deliveries
up to 2011. The company's shares trade on the New York Stock Exchange under
the symbol "DAC."
Visit our website at www.danaos.com