Danaos has closed the second trimester with a profit clearly of 44,6 million dollars (+17.3%)



Greek Danaos Corporation, that she is owner of a fleet of 55 portacontainer of ability comprised between 2.200 and 13.100 teu to which four portacontenitori of which the company join it stops 49% of the property, have concluded the first semester of this year with revenues pairs to 274,5 million dollars, down of the -2,0% on the first half of 2015. The operating profit is diminished of the -3,8% attesting to 133,6 million dollars, while the profit clearly has recorded an increase of +29.8% and is piled to 88,8 million dollars.

In the second solo trimester of the 2016 Greek company has totaled revenues pairs to 137,0 million dollars, with a contraction of the -3,2% on the correspondent period last year, an operating profit of 66,9 million dollars (- 4.0%) and a profit clearly of 44,6 million dollars (+17.3%).

Commenting the results achieved from the society, the managing director of the Danaos, John Coustas, it has found that "the market of the container vessels continuous to being extremely difficult, but - it has specified - now it turns out static, an indication that probably we have reached rock bottom. Currently the fleet in disarmament is pairs to about 6%, while I use it of the entire fleet is gone around around 75%. The market of the charterings so as the values of the assets are come down to the historical minimums since the navigation companies, in the attempt to contain the costs, are being unravelled of ability rented in excess and are trying to obtain from the owners of the ships periods and flexible installments of chartering".

To such purpose, Coustas it has announced that 15th July Danaos has signed an agreement with the company of South Korean navigation Hyundai Merchant Marine (HMM) based on which the installments of chartering of the ships rented to the Asian company will be reduced of 20% in next the three years and means in exchange for 39 million dollars in debit entries di with expiration within 2024 and of the 4,6 million one common stocks of the HMM. At the end of the 3,5 years the chartering installments will return to the level precedence. Hyundai Merchant Marine has taken rental from Danaos 13 ships, of which five portacontainer of the ability to 13.100 teu and eight of the ability to 2.200 teu.

The managing director of the Danaos has specified that analogous negotiations with the other company of South Korean navigation Hanjin Shipping are on, that has taken rental from the Greek society eight portacontenitori, of which three of the ability to 10.100 teu and five from 3.400 teu.

Coustas has specified that Danaos considers that "the situation of the market will remain unchanged for the remaining part of 2016, in the course of which - it has added - it will be begun also to experience the effect of the widening of the channel of Panama hat that will move the question from the Panamax ships to that post-Panamax. We are cautiously optimistic - it has continued Coustas - than the fundamental ones of the market will gradually begin beginning from to improve the spring of 2017. The arranged effect of an attended improvement of the world-wide Gross Domestic Product one and the slow down of the increase of the fleet of portacontainer will begin to re-balance the market. To moreover one expects us that the consolidation in the field of the line transport, through alliances or other solutions, will create stability and encourage a discipline of the hire installments who sperabilmente will place end to the losses that the line companies are recording in the last trimesters".