Danaos adds to vessel order

Athens-based Danaos Corp. has extended its contract with China Shipbuilding Trading Co. to include a fifth 8,530-TEU vessel.
All five ships will be built by the Shanghai Jiangnan Changxing Heavy Industry Co. Ltd. and are to be delivered from August 2010 to February 2011.
The Greek company said it has reached agreement with an unnamed "large international liner company" to charter the five vessels for 12 years.
Danaos said the ships would contribute about $65 million of earnings before interest, taxes, depreciation and amortization in their first year of operation.
Danaos has a fleet of 33 containerships with aggregate capacity of 138,772 TEUs and another 30 ships on order totaling 163,121 TEUs.
The company's shares are traded on the New York Stock Exchange under the symbol DAC.


Source: American Shipper