Danaos Corp. arranges charters with MCC

By: | at 08:00 PM | Liner Shipping  

Danaos Corporation announced that it has signed an agreement with MCC, a subsidiary of MAERSK, and has already time-chartered the 30-year-old S.A. Helderberg, a 3,100 teu containership, for a period of 12 months beginning December 2007 at fixed daily rates. Danaos also time-chartered its sister ship, the S.A. Sederberg, to CMA-CGM at a fixed one-year accretive rate. The Company also sold the other 30-year-old sister ship to the above-mentioned vessels, the S.A Winterberd, to an undisclosed and unrelated third party for approximately $11m booking profits in excess of $5.5m as a result of this transaction. Further, Danaos announced that it has re-chartered the 30-year-old Eagle Express to MSC and the Pacific Bridge to Senator Lines both for two years at accretive rates.

“We are very pleased to have managed to arrange these charters,” said Dr. John Coustas, Chief Executive Officer of Danaos. “The specific charters are very important to Danaos as they demonstrate that well-maintained containership vessels can secure accretive charter arrangements for periods beyond their depreciable life when market conditions permit.”


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