Danaos Corporation Adds One More 8,530 TEU Containership to Its Fleet

Danaos Corporation (NYSE: DAC) announced that on August 22, 2011, it took delivery of one more newly built containership, the CMA CGM TANCREDI, expanding its operational fleet to a total of 57 containerships aggregating 274,089 TEU.

The CMA CGM TANCREDI, built at Shanghai Jiangnan Changxing Heavy Industry has a carrying capacity of 8,530 TEU, is 335 meters long, 42.8 meters wide and has a speed of 25.80 knots. The CMA CGM TANCREDI 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 $12.7 mil.