The exceptional financial growth of containerized shipping rewards the Greek Danaos and its shareholders

Needless to say, 2021, for Danaos, was a year record. The exceptional increase in maritime transport tariffs containerized occurred in recent months, in fact, has had a positive impact much higher than those occurred in opportunity for increases in maritime freight in recent years and has made it possible to obtain financial performance never achieved in priority from operators directly involved in this sector as managers of fleets of container ships or because, as Danaos Corporation, owners of a fleet of container ships rental mail from other shipping companies. Currently the Greek company has a fleet of 71 container carriers for a total load capacity of 437 thousand teu, of which eight ships of capacity between 10.100 and 13.100 teu, 34 of capacity between 5,500 and 9,600 teu and 29 units naval capacities between 2,200 and 4,300 teu.

Danaos closed the 2021 financial year with a peak historical revenues of 689.5 million dollars, with a growth of +49.4% on the previous year. New records have been set also from the operating profit and net profit that were amounted respectively to 358,3 million dollars (+79.6%) and 1,05 billion dollars (+585.7%).

In the last quarter of last year alone, revenues recorded the record quarterly value of 215.0 million dollars, +79.7% more than in the corresponding period of 2020. New quarterly record also of the operating profit that has been attested to 115.6 million dollars (+119.9%). Net profit (item of the budget that reached a record level of 372.8 million in the second quarter of 2021) amounted to 166.0 million dollars, with an increase of +284.4% on the quarter October-December of 2020.

Commenting on the results obtained in 2021, the administrator Danaos' delegate, John Coustas, pointed out that the company had long predicted this very positive evolution of the market of containerized shipping: "the profusion of coverage from part of the media and analysts of the positive dynamics in the container market - he specified - speaks for itself and echoes to our vision of the market. Many quarters ago - he recalled Coustas - we predicted the current disruption in supply chains and tensions in the container market until 2022. Ourselves Forecasts have driven our growth and our rental, and both have maximized our profits."

Coustas also pointed out the positive effects of Danaos' investment in the purchase of shares in the company of Israeli shipping ZIM, which is listed on the Stock Exchange of New York, an investment that has had a positive impact equal to well $68.4 million on net income in the fourth quarter quarter of 2021. "Our investment in shares of the ZIM - announced the CEO of Danaos Corporation - exceeded all reasonable expectations and brought Danaos to record a net profit of over a billion dollars for the 2021. As a result of these factors, in 2021 the price of our shares (Danaos is also listed on the NYSE, ed) is quadrupled, raising the company's market capitalization to almost two billion dollars."

"What is equally important - he continued Coustas - is that our rental policy generate even better cash flows in 2022 and, in the overall, our contract revenues of $2.8 billion, with an average rental duration of four years, they ensure certainty about the future".

Speaking of the more general trend of the market of the containerized shipping, Coustas noted that "2021 is it has been a phenomenal year for the entire container industry and again more for Danaos. The counterparty risk element that dominated the previous decade - he noted - is of the all disappeared. Long-term rentals are also becoming the rule'.

The CEO of Danaos dwelt also on the possibility of future overcapacity of the world fleet of container ships, a risk of which many they seem to have forgotten overwhelmed as they are by a growth of the demand for containerized transport that does not seem to have end. "Fortunately - noted Coustas - the companies Liner navigation are aiming to expand in the industry of land and air transport and in the logistics segment for vertically integrate their offer. Combined with uncertainty on future standards of ship propulsion systems, this - noted Coustas - has put a brake on orders for new constructions that I hope will remain in place. In addition, the German market of KG, responsible for 70% of orders during the last boom of shipbuilding, today it does not exist. The future - rejoiced Coustas - it is bright and Danaos is well positioned for take advantage of it and to continue to reward its shareholders".