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DANAOS CORPORATION

(DAC)
  Report
Delayed Nyse  -  04:00:02 2023-02-06 pm EST
60.51 USD   +0.85%
02/06Danaos Corporation Announces Date for the Release of Fourth Quarter 2022 Results, Conference Call and Webcast
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2022Danaos Corporation Announces Senior Notes Repurchase
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2022Danaos Corporation Announces Senior Notes Repurchase
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Danaos Corporation Announces Senior Notes Repurchase

12/01/2022 | 07:30am EST

Danaos Corporation (NYSE: DAC), one of the world’s largest independent owners of containerships, today announced that it expects to repurchase $37.234 million of its 8.500% unsecured senior notes due 2028 in a privately negotiated transaction.

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 69 containerships aggregating 423,745 TEUs and 6 under construction containerships aggregating 46,200 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world's largest liner companies on fixed-rate charters. Our long track record of success is predicated on our efficient and rigorous operational standards and environmental controls. Danaos Corporation's shares trade on the New York Stock Exchange under the symbol "DAC".

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although Danaos Corporation believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, Danaos Corporation cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the ability to consummate the expected senior notes repurchase, the impact of the COVID-19 pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of containerized cargo, the ability and willingness of charterers to perform their obligations to us, charter rates for containerships, shipyards constructing our contracted newbuilding vessels, performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing, Danaos’ ability to achieve the expected benefits of the 2021 debt refinancing and comply with the terms of its new credit facilities and other financing agreements, and to complete and achieve the expected benefits of refinancing our existing Citibank/Natwest credit facility with two new credit facilities as planned, the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in Danaos Corporation's operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, including the conflict in Ukraine and related sanctions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by Danaos Corporation with the U.S. Securities and Exchange Commission.

Visit our website at www.danaos.com


ę Business Wire 2022
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Analyst Recommendations on DANAOS CORPORATION
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Financials (USD)
Sales 2022 981 M - -
Net income 2022 555 M - -
Net Debt 2022 211 M - -
P/E ratio 2022 2,25x
Yield 2022 4,96%
Capitalization 1 225 M 1 225 M -
EV / Sales 2022 1,46x
EV / Sales 2023 0,94x
Nbr of Employees 4
Free-Float 43,7%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 60,51 $
Average target price 90,00 $
Spread / Average Target 48,7%
EPS Revisions
Managers and Directors
John Coustas Chairman, President & Chief Executive Officer
Evangelos Chatzis Chief Financial Officer & Secretary
Dimitris Vastarouchas Technical Director & Deputy COO
Iraklis Prokopakis COO, Treasurer, Director & Senior Vice President
Myles R. Itkin Independent Director