Danaos Adds 13,100 TEU Containership to Fleet

Danaos Corporation (NYSE: DAC) announced that on May 3, 2012 it took delivery of one more newly built containership, the HYUNDAI SMART, expanding its operational fleet to a total of 62 containerships aggregating 336,849 TEU.

The HYUNDAI SMART, built at Hyundai Samho Heavy Industries Co. Ltd, has a carrying capacity of 13,100 TEU, is 366 meters long, 48.2 meters wide and has a speed of 24.70 knots. The HYUNDAI SMART has commenced its 12-year time charter at a fixed charter rate immediately upon delivery. The annualized EBITDA run-rate contribution of the vessel is expected to be approximately $18.8 mil.

Further, the Company announced that on April 27, 2012, it sold the 28 year old 2,130 TEU containership "Montreal" to an unrelated third party for a net price of $6.6 million.