Contact Information: For further information please contact: Company Contact: Dimitri Andritsoyiannis Chief Financial Officer Danaos Corporation Athens, Greece Tel: +30 210 419 6481 E-Mail: cfo@danaos.com Iraklis Prokopakis Chief Operating Officer Danaos Corporation Athens, Greece Tel. +30 210 419 6400 E-Mail: coo@danaos.com Investor Relations and Financial Media: Nicolas Bornozis President Capital Link, Inc. New York Tel. 212-661-7566 E-Mail: nbornozis@capitallink.com
Danaos Corporation Delivers Second Vessel to APL and Confirms Last Purchase Option
| Source: Danaos Corporation
ATHENS, GREECE--(Marketwire - June 28, 2007) - Danaos Corporation (NYSE : DAC ) today
announced that during the course of the last week it delivered the vessel
APL Scotland back to its charterer, APL, for a total price of $44.5
million.
Further, Danaos Corporation also announced that APL has declared their
purchase option regarding the APL Belgium according to their existing
agreement with Danaos. This represents the last out of the four purchase
options APL had with Danaos. Danaos now expects to sell this vessel back to
APL at the end of its charter on or about January 2, 2008 for a total of
$44.5 million.
Dr. Coustas, Chief Executive Officer of Danaos commented: "The current
delivery of one of our vessels to APL, as well as the expected delivery of
APL Belgium back to APL, following the declaration of the purchase options
attached to them, will bring to our company approximately another $89
million. The addition of one vessel earlier this year and the expected
addition of three more new containerships scheduled for 2007, all of which
are already chartered for 12 years each, will lower the average age and
increase the average time charter duration profile of our fleet while at
the same time increasing our revenues. The proceeds of these sales will be
used to partly finance our extensive new building and delivery program we
already have in place for the next three years. The company expects to
continue enjoying a low leverage balance sheet throughout 2007 which
provides us with effective ammunition for further accretive growth."
About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering
its vessels to many of the world's largest liner companies. Its current
fleet of 30 containerships aggregating 133,425 TEUs ranks Danaos among the
largest containership charter owners in the world based on total TEU
capacity. Danaos is the largest US listed containership company based on
fleet size and market capitalization. Furthermore, the company has on order
28 additional containerships aggregating 147,524 TEU with scheduled
deliveries up to 2010. The company's shares trade on the New York Stock
Exchange under the symbol "DAC."
Visit our website at www.danaos.com