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Danaos orders four methanol-ready containerships

Danaos orders four methanol-ready containerships
Built in 2005, Phoebe is an 8 463 TEU containership and one of 77 vessels, owned and/or being built for Danaos Corporation (photo courtesy Danaos).

Greece-headed Danaos Corporation (DAC), one of the world’s largest independent owners of containerships, has announced that it has placed orders for four methanol-ready containerships. The vessels will be built at Daehan Shipbuilding in South Korea and are expected to be delivered to Danaos in the first half of 2024.

With a fleet of 77 containerships aggregating 479 589 twenty-foot equivalent units (TEUs), which includes the four containerships on order, Danaos is one of the largest independent owners of modern, large-size containerships.

The fleet is chartered to many of the world’s largest liner companies on fixed-rate charters.

According to a statement, the four 7 200 TEU vessels will be methanol-ready, will come with open-loop scrubbers, and 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. With this order, Danaos continues to solidify its position as one of the major players in the containership market worldwide, commented Dr John Coustas, CEO of Danaos.

Derisk technical obsolescence

According to Dr Coustas, current world developments are pointing out significantly elevated fuel prices in the future.

Bearing in mind the uncertainty of green fuel availability we are following a strategy of investing in the most fuel-efficient vessels together with scrubbers that will minimize the fuel cost while maintaining the option to modify the vessels for 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, Dr John Coustas said

Furthermore, the midsize segment is the one that 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 ended Dr John Coustas.

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