DAC

Danaos Corporation is an international owner and operator of containerships chartering vessels to liner shipping companies. The company owns and operates a fleet of container vessels ranging in size from feeders to large Post-Panamax and Neo-Panamax ships. Danaos charters its vessels to major global shipping lines including Maersk, MSC, Yang Ming, and others under time charter contracts providing contracted revenues. The company generates cash flows from long-term charter agreements while benefiting from vessel ownership and potential appreciation. Founded in 1972 by the Coustas family and headquartered in Piraeus, Greece, Danaos went public in 2006. The company faced severe financial distress during the container shipping downturn in the mid-2010s, undergoing debt restructuring and near-collapse. Danaos has since recovered through improved charter markets, fleet renewal, contract extensions, and debt reduction. The company benefits from experienced management, modern fuel-efficient fleet, long-term charter backlog providing revenue visibility, and relationships with major liner operators. Danaos faces cyclical container shipping markets, charter rate volatility, vessel value fluctuations, and technological obsolescence risks. The company pays dividends and focuses on shareholder returns while managing fleet optimization.