Shipowner Danaos eyes no improvements in 2018

Danaos Corporation, currently negotiating a refinancing with its creditors after the collapse of Hanjin, has low expectations about the future in light of many newbuilds headed for the market next year.

by OLE ANDERSEN

Listed Danaos Corporation, which owns close to 60 container vessels mainly on long-term charter contracts with carriers, eyes no noteworthy improvements in the strained charter market in 2018 in light of the many newbuilds scheduled for delivery next year, says CEO John Coustas in the third quarter interim report from Danaos, a company that was highly exposed to now-bankrupt Hanjin Shipping.

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Container shipowners have lost billions of dollars
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Danaos pulled into the red on Hanjin collapse
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2,998 creditors have claims for USD 800 million in Hanjin
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