Danaos Corporation Adds One More 8,530 TEU
containership to its Fleet

Athens, Greece, February 29, 2012

Danaos Corporation (NYSE: DAC), a leading international owner of containerships, announced that on February 28, 2012, it took delivery of one more newly built containership, the CMA CGM MELISANDE, expanding its operational fleet to a total of 61 containerships aggregating 312,779 TEU.

The CMA CGM MELISANDE, built at Shanghai Jiangnan Changxing Heavy Industry has a carrying capacity of 8,530 TEU, is 335 meters long, 42.8 meters wide and has a speed of 25.80 knots. The CMA CGM MELISANDE has commenced its 12-year time charter at a fixed charter rate immediately upon delivery. The annualized EBITDA run-rate contribution of the vessel is expected to be approximately $12.7 mil.

Iraklis Prokopakis, Senior Vice President and Chief Operating Officer of Danaos commented: "The delivery of CMA CGM Melisande marks the successful completion of a project for building five 8,530 TEU post-panamax vessels at Jiangnan Changxing shipyard that are the largest containerships ever built in China. We would like to express our appreciation to the shipyard for the good cooperation we have had during these challenging times."

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 61 containerships aggregating 312,779 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. Furthermore, the company has a contracted fleet of 4 additional containerships aggregating 52,400 TEU with scheduled deliveries up to June 2012. The company's shares trade on the New York Stock Exchange under the symbol "DAC".

Danaos Corporation press release