Fortress SITC – liner shipping's insulated star performer
Is it a bird? Is it a plane? Nope, it’s a ship
The Danaos-owned CMA CGM Rabelais © Atgimages
By Mike Wackett
Greek containership owner Danaos has said the sector’s charter market is “moving sideways” and it is yet to see “a meaningful improvement” to signal a market recovery.
The comments were made by the non-operating owner’s chief executive, John Coustas, on the release of the firm’s second-quarter earnings yesterday.
The company owns 59 container vessels ranging in size from 2,200 teu to 13,100 teu, which it leases to ocean carriers.
However, Danaos’ financial position was significantly impacted by the bankruptcy of Hanjin Shipping last ...
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