Danaos adds $308m to charter revenue backlog

John Coustas-led Danaos Corp, a New York-listed owner, has secured multi-year charter arrangements for all of the vessels in its newbuilding orderbook with an average charter duration of approximately 4.8 years weighted by aggregate contracted charter hire.

The shipowner over the past two months added approximately $308m to its contracted revenue backlog through a combination of new charters and charter extensions for 16 of its container vessels.

The total contracted cash operating revenues, on the basis of concluded charter contracts currently stand at $3.3bn, including newbuildings. The remaining average contracted charter duration for the company’s containership fleet is 3.4 years, weighted by aggregate contracted charter hire.

The contracted operating days charter coverage for Danaos’ container vessel fleet is currently 100% for 2024, 94% for 2025 and 73% for 2026. This includes newbuildings based on their scheduled delivery dates.

Meanwhile, Danos took delivery – during the third quarter of 2024 – of another 3 newbuilding containerships, namely one 7,165 teu vessel and two 8,010 teu vessels which have commenced their three-year charters. In total, the owner has taken delivery