Danaos adds $304M to contracted revenue backlog, adds two containerships

Danaos (DAC) has added $304M to its contracted revenue backlog and ordered two additional two newbuilding containerships. The additions to the contract revenue backlog include approximately $164M from forward charter fixtures for four existing vessels and approximately $140M from charter fixtures for the new two newbuilding orders. each with a five-year charter duration. The two newbuilding orders comprise of two additional 7,165 TEU container vessels to be built at Dalian Shanhaiguan shipyard in China expected to be delivered during Q3 of 2027. As a result of the recent activity, total contracted cash operating revenues, on the basis of concluded charter contracts through the date of this release, currently stand at $3.6B. The remaining average contracted charter duration is 3.9 years, weighted by aggregate contracted charter hire. Contracted operating days charter coverage for the container vessel fleet is nearly 100% for 2025 and 90% for 2026, including newbuildings based on their scheduled delivery dates. The company now has 18 container vessels under construction. Anticipated vessel deliveries comprise of one newbuilding vessel in the remainder of 2025, three vessels in 2026, 12 vessels in 2027 and two vessels in 2028.