Greece: Danaos Takes Delivery of 13.100 TEU Vessel HYUNDAI SPEED

Danaos Corporation DAC 0.00% , a leading international owner of containerships, announced that on June 7, 2012, it took delivery of one more 13,100 containership, the HYUNDAI SPEED, expanding its operational fleet to a total of 63 containerships aggregating 349,949 TEU. The Company expects delivery of its last 13,100 TEU vessel by the end of June, at which point its current new building program will be completed.

The HYUNDAI SPEED, built at Hyundai Samho Heavy Industries Co. Ltd, has a carrying capacity of 13,100 TEU, is 366 meters long, 48.2 meters wide and has a speed of 24.70 knots. The vessel has already commenced its 12-year time charter with an expected annualized EBITDA run-rate contribution of approximately $18.8 mil.

Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world’s largest liner companies. Their current fleet of 63 containerships aggregating 349,949 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is one of the largest US listed containership companies based on fleet size.

[mappress]

Shipbuilding Tribune Staff, June 12, 2012