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Danaos (NYSE:DAC) said Monday it has signed an order worth more than $500M for five newbuilding containerships and added $616M to its contracted revenue backlog and added an extra five newbuilding containerships to its order book.
Danaos (DAC) said the five newbuilding orders with an aggregate contract price of $509M comprise of one additional 8,258 container vessel to be built at Yangzijiang shipyard in China expected to be delivered in 2027 and four 9,200 TEU container vessels to be built at Dalian shipyard in China, three of which have expected deliveries in 2027 and one vessel in 2028.
All five vessels are designed with the latest eco characteristics, will be methanol fuel ready, and will be built in accordance with the latest requirements of the International Maritime Organization in relation to Tier 3 emission.
The company said the contract revenue backlog additions include $413M of charter fixtures for the new five newbuilding orders with an average charter duration of 4.8 years, and $203M of forward two-year charter fixtures for nine of its existing vessels.
As a result of the activity, Danaos (DAC) said total contracted cash operating revenues currently stand at $2.9B.
The company said contracted operating days charter coverage for its container vessel fleet, including newbuildings based on their scheduled delivery dates, has reached 99% for 2024 and 80% for 2025.