Danaos takes in fifth 13,100-TEUer, forms 64-ship fleet of 363,049 TEU

THE biggest containership owner in Greece, New York-listed Danaos Corporation, has announced the delivery of its fifth and final 13,100-TEU vessel, the Hyundai Ambition, to complete a newbuilding programme, which brings the total company fleet to 64 containerships totalling 363,049 TEU.

"Since going public in 2006, we have more than tripled our TEU carrying capacity, which has been growing at a 21 per cent compounded annual growth rate," said Danaos CEO John Coustas.

"Our ambitious growth strategy, executed during one of the most challenging periods is proof of the resilience of our business model. This growth will now be translated in bottom line value for our shareholders," Dr Coustas said.

The 13,100-TEU Hyundai Ambition, built by Hyundai Samho Heavy Industries, is 366 metres long, 48.2 metres wide and has a speed of 24.7 knots. The vessel has started its 12-year time charter with an expected annualised EBITDA (earnings before interest, taxes and amortisation) run-rate contribution of $18.8 million, said the company statement.