Danaos Orders Four Methanol-Ready Containerships

Athens-based containership owner Danaos Corporation (NYSE: DAC) has announced orders for four methanol fuel-ready 7,200 TEU containerships, expanding its newbuild orderbook to six ships.

The vessels will be built at Daehan Shipbuilding in Korea and are expected to be delivered to Danaos in the first half of 2024. Each will be methanol fuel ready and will come with open loop scrubbers. They will be built in accordance with the latest requirements of the International Maritime Organization (IMO) in relation to Tier III emission standards and Energy Efficiency Design Index (EEDI) Phase III.

“We are very pleased to announce the commissioning of four 7,200 TEU containerships. These vessels are at the forefront of new technology, come with the latest specifications on emissions requirements and are methanol ready,” said CEO Dr. John Coustas, who also spoke about the decision to have the ships to be methanol-ready and scrubber-fitted.

“The current world developments are pointing out to significantly elevated fuel prices in the future and bearing in mind the uncertainty of green fuel availability we are following a strategy of investing into the most fuel-efficient vessels together with scrubbers that will minimize the fuel cost while maintaining the option to modify the vessels into green methanol use when the fuel will be available. This strategy removes the risk of technical obsolescence while it delivers short and medium term benefits on the fuel cost front. Further the midsize segment is the one which is most underbuilt, and replacement will be required. We will continue to work to maximize our profitability and secure more accretive transactions with a focus on creating value for our shareholders,” Dr. Coustas added.

With a fleet of 77 containerships aggregating 479,589 TEUs, including six ships on order representing 43,000 TEU capacity, Danaos ranks among the largest containership charter owners in the world based on total TEU capacity. It charters its ships to many of the world’s largest liner companies on fixed-rate charters.

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