News / Bullish Danaos reports hike in revenue and healthier charter market for larger ships

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Greek non-operating containership owner Danaos Corporation has reported a “significant improvement” in the charter market for vessels over 5,500 teu.

It also noted a “slight” improvement for smaller ships.

Danaos owns a fleet of 55 containerships, mostly on long-term charters to ocean carriers, ranging in size from 2,200 teu to 13,100 teu.

Net income in the first quarter was $38.6m, compared with $28m in Q1 2018, mostly attributed to a $7.7m decrease in its net finance expenses as it paid down debt, but ...