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ATHENS - William Repko has resigned from the board of directors at Danaos Corporation (NYSE:DAC), effective Monday, the containership owner announced in a press release. The company, currently valued at $1.54 billion, has maintained strong financial performance with a 70% gross profit margin according to InvestingPro data.
The company stated that Repko’s departure was not due to any dispute or disagreement with the company or its board regarding operations, policies, or practices.
Following the resignation, Danaos’ board continues to maintain a majority of independent directors. The company has not yet decided whether to alter the size of the board or fill the vacancy.
Charalampos Pampoukis has been appointed to the board’s Audit Committee to replace Repko, effective Monday.
Danaos Corporation is a major independent owner of large containerships with a current fleet of 74 vessels totaling 471,477 TEUs (twenty-foot equivalent units) and 18 vessels under construction that will add 148,564 TEUs. The company has also recently expanded into the dry bulk sector with 10 capesize vessels totaling 1,760,861 DWT (deadweight tonnage).
The Athens-based shipping company’s shares trade on the New York Stock Exchange under the symbol "DAC."
In other recent news, Danaos Corporation reported its Q2 2025 earnings, with an adjusted earnings per share (EPS) of $6.36, which did not meet the forecasted $6.66. However, the company surpassed revenue expectations, achieving $262.15 million compared to the anticipated $247.26 million. Additionally, Danaos has added $304 million to its revenue backlog and placed orders for two new containerships. The backlog increase includes $164 million from charter fixtures for four existing vessels and $140 million from the new orders. Furthermore, Danaos has priced $500 million in senior notes at a 6.875% interest rate due in 2032. The company plans to use the proceeds from this offering to redeem its $262.8 million 8.500% Senior Notes due 2028 and repay two secured credit facilities. These recent developments reflect Danaos’s strategic financial planning and operational expansion efforts.
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