DANAOS

IMO 2020 fuel restriction may prove a ‘windfall’ for the charter market

MSC, Maersk, Cosco and CMA CGM are among ocean carriers that expect to temporarily increase their capacity this year to mitigate the downtime as ships are retrofitted with scrubbers, or for the decontamination of tanks to accommodate compliant fuels, ahead of IMO 2020.
Notwithstanding seasonal supply and demand drivers, containership owners are anticipating a charter market boost in the second half of the year, as operators prepare for the introduction of …

The post IMO 2020 fuel restriction may...

https://theloadstar.com/imo-2020-fuel-restriction-may-prove-a-windfall-for-the-charter-market/

Danaos receives notice from NYSE

Danaos Corporation (the “Company” or “Danaos”) (NYSE: DAC) announced it has received written notice from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because the average closing price of its common stock had fallen below $1.00 per share over a period of 30 consecutive trading days.

Under the NYSE rules, the Company can regain compliance with this...

http://container-news.com/danaos-receives-notice-nyse/

Danaos to install scrubbers on six vessels

Danaos published its third quarter and nine months results, in which it announces that until now it has pledged to install scrubbers on six vessels. The company is also in discussions to install scrubbers on five more vessels.

Two of these ships are owned by Danaos’s joint venture Gemini Shipholdings Corporation. These vessels have been chartered out for periods of at least three years. Danaos is also in discussions to install scrubbers on five more vessels.

Through the six charters on vessels...

https://safety4sea.com/danaos-to-install-scrubbers-on-six-vessels/

Zacks Investment Research upgraded Danaos

Danaos was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday (Oct. 17). The firm presently has a $1.25 target price on the shipping company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 4.17% from the company’s previous close.

According to Zacks, “Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world’s...

http://container-news.com/zacks-investment-research-upgraded-danaos/

Danaos, Q2 and H1 results

Danaos Corporation (“Danaos”), one of the world’s largest independent owners of containerships, today reported unaudited results for the period ended June 30, 2018.

Highlights for the Second Quarter and Half Year Ended June 30, 2018:

  • On August 10, 2018, we consummated the agreement reached with certain of our lenders on June 19, 2018 for the refinancing of approximately $2.2 billion of our debt maturing on December 31, 2018, reducing our debt by approximately $551 million, resetting financial...

http://container-news.com/danaos-q2-h1-results/

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