Danaos adds $304 million to revenue backlog, orders two new vessels

ATHENS - Container shipping company Danaos Corporation (NYSE:DAC), which maintains a "GREAT" financial health score according to InvestingPro analysis, has added $304 million to its contracted revenue backlog and ordered two additional newbuilding containerships, according to a press release issued Tuesday.

The revenue backlog additions include approximately $164 million from forward charter fixtures for four existing vessels and about $140 million from charter fixtures for the two newly ordered vessels, each with five-year charter durations. The company’s strong operational efficiency is reflected in its impressive 70% gross profit margin over the last twelve months.

The new orders are for two 7,165 TEU container vessels to be built at Dalian Shanhaiguan shipyard in China with expected delivery in the third quarter of 2027. The vessels will feature eco-friendly designs, be methanol fuel ready, and include open loop scrubbers and Alternative Maritime Power units.

With these developments, Danaos’ total contracted cash operating revenues now stand at $3.6 billion with an average remaining charter duration of 3.9 years. The company reports nearly 100% charter coverage for its container vessel fleet in 2025 and 90% for 2026. Trading at just 3.7 times earnings and below book value, the stock appears undervalued based on InvestingPro’s Fair Value analysis.

Danaos now has 18 container vessels under construction with an aggregate capacity of 148,564 TEU, bringing its pro-forma total containership capacity to 620,041 TEU. Vessel deliveries are scheduled for the remainder of 2025 through 2028.

"We are very pleased to announce the commissioning of two additional containerships that are at the forefront of new technology," said CEO Dr. John Coustas in the statement.

The Athens-based company currently operates a fleet of 74 container vessels totaling 471,477 TEU and has recently expanded into the dry bulk sector with 10 capesize vessels. With a healthy current ratio of 5.36 and moderate debt levels, Danaos maintains strong financial flexibility for its expansion plans. Discover more insights about Danaos and access comprehensive analysis in the Pro Research Report, available exclusively on InvestingPro.

In other recent news, Danaos Corporation reported its Q2 2025 earnings, where the adjusted EPS was $6.36, missing the forecasted $6.66. However, the company surpassed revenue expectations, recording $262.15 million against a forecast of $247.26 million. These earnings and revenue results are among the significant recent developments for the company. Additionally, analysts have been closely monitoring these figures, as they provide insights into the company’s financial health. The earnings miss was noted by various financial analysts, although the revenue beat was a positive highlight. Despite the mixed results, Danaos continues to attract attention from the investment community. These recent updates are crucial for investors keeping track of Danaos Corporation’s performance.

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