Danaos Corporation sees highest rates in ten years

Shipowner Danaos Corporation is benefiting from the current upturn with high rates and demand. Ship chartering rates have risen to levels not seen for at least ten years, says CEO.

Photo: Loren Elliott/Reuters/Ritzau Scanpix

As container carriers are benefiting from the currently busy market with high freight rates and demand for goods to be transported, the upturn is also spreading to shipowners such as Danaos Corporation, which leases ships to large container carriers, shows a report presented by the Greek company on Monday.

"Charter rates have risen to levels not seen for at least ten years and, more importantly, the duration has increased significantly, allowing ships over 4,000 teu to secure more than four years of employment at very healthy levels," says the CEO in the financial report.

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