Danaos Corp

Danaos Corporation is an international owner of containerships and drybulk vessels. As of February 25, 2026, the company owned 75 containerships totaling 477,491 TEUs and had 27 containerships under construction, aggregating 174,550 TEUs. It also owned 11 Capesize bulk carriers, including one expected in March 2026, totaling 1,943,286 DWT, and had four Newcastlemax bulk carriers under construction with an approximate aggregate capacity of 844,000 DWT. Danaos charters its containerships under multi-year, fixed-rate period charters to liner companies, including CMA CGM, MSC, Hapag Lloyd, COSCO, PIL, Maersk, ONE, Sealead, OOCL, Samudera, Interasia Lines, Yang Ming, and ZIM. As of the date of this annual report, operating revenues were generated from 75 container vessels on time charters or bareboat charter agreements, with remaining terms from less than one year to 2032. The company has also contracted 5-year, 7-year, and 10-year time charter agreements for 21 out of 27 container vessels under construction, scheduled for delivery from 2026 through 2029, with an average charter duration of approximately 5.8 years, weighted by aggregate contracted charter hire. The company operates its drybulk carriers in the spot market, on short-term time charters, and voyage charters. Total contracted cash operating revenues, including newbuildings, stand at $4.3 billion based on concluded charter contracts through the date of this annual report. The remaining average contracted charter duration for the containership fleet is 4.3 years, weighted by aggregate contracted charter hire. Charter initial terms range up to 18 years. The containership fleet ranges in size from 1,800-13,100 TEU. Danaos is one of the largest containership operating lessors in the world.