Danaos Corporation Sells 30-Year Old Vessel for $15.8 Million, Booking Gains of $9.8 Million
Athens, Greece, June 9, 2008 - Danaos Corporation (NYSE: DAC) today announced that on May 20, 2008, it sold the 30-year old Maersk Constantia to an undisclosed and unrelated third party for approximately $15.8 million, booking profits of approximately $9.8 million as a result of this transaction.
The Maersk Constantia was one out of four so called big whites that Danaos carried on its fleet on bareboat charter, three of which, including the Maersk Constantia have now been sold. The vessel was already past its depreciable life and was fast approaching its expected scrapping date.
About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 37 containerships aggregating 146,617 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. Furthermore, the company has a contracted fleet of 34 additional containerships aggregating 243,468 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC".
Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 37 containerships aggregating 146,617 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. Furthermore, the company has a contracted fleet of 34 additional containerships aggregating 243,468 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC".