What Danaos does

Danaos Corporation is a publicly traded (NYSE: DAC) independent owner of modern containerships, founded in 1972 by Dimitris Coustas in Greece and headquartered in Limassol, Cyprus, with an Athens branch office in Piraeus. The company charters 75 containerships (ranging from 2,200 to 13,100 TEU capacity) and 11 Capesize dry bulk vessels to major global liner companies including CMA CGM, HMM, Hyundai Merchant Marine, and Evergreen Marine on long-term time charters at fixed rates, with an additional 29 containership newbuildings and 4 dry bulk newbuildings under construction. Management is led by Dr. John Coustas, who has served as President and CEO since 1987 and holds approximately 52% of the company's shares, supported by 218 shore-based employees and 1,815 seafarers serving on board the fleet.

The company's revenue model centers on long-term fixed-rate time charters that insulate it from short-term charter rate volatility and provide predictable cash flows. Revenue reached approximately $1.04 billion in FY2025 (the second consecutive year above $1 billion), with Q1 2026 operating revenues of $253.7 million and adjusted EPS of $6.72 (up from $6.04 in Q1 2025). Danaos maintains a contracted revenue backlog of $4.1 billion extending through 2038 with 100% charter coverage for 2026, supported by a fortress balance sheet (0.23x net debt-to-EBITDA, $1.3 billion total liquidity), ISO 9001/14001/45001/50001 certifications, and ISM Code compliance achieved in 1995.

Danaos operates a proprietary technology platform through Danaos Management Consultants, co-founded in 1986 by Dr. John Coustas, which develops operational and technological platforms for fleet management, fuel efficiency optimization, emissions control, and real-time data acquisition and processing. The company has expanded beyond pure container shipping into dry bulk operations and, through a January 2026 strategic partnership with Glenfarne Group, into LNG transportation, investing $50 million to become preferred tonnage provider for at least six LNG carriers for the Alaska LNG project, with first gas delivery targeted for 2029.

Name

Danaos

Legal name

Danaos Corporation

Website

https://danaos.com

Company type

Public

Founded year

1972

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Danaos Corporation is one of the largest independent owners of modern containerships, chartering 75 operational vessels (plus 29 under construction) to major global liner companies on long-term fixed-rate time charters. The Greece-based company also operates Capesize dry bulk vessels and is expanding into LNG transportation via the Alaska LNG partnership.

Ownership category

akta.pro rank

Product category

Container Shipping & Maritime Transportation Services

NAICS

Coastal and Great Lakes Freight Transportation (483113), Support Activities for Water Transportation (4883)

SIC

Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400)

akta.pro primary industry

Reefer & Specialized Temperature-Controlled Vessel Operators (TLADABAI)

akta.pro secondary industry

LNG & LPG Marine Shipping (Carriers) (EUALADAF)

Keywords

• Container ship chartering
• Containership leasing
• Dry bulk shipping
• Time charter services
• Maritime transportation

Headquarters

HQ city

Piraeus

HQ country

Greece

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Containership Time Charters: Danaos charters its containerships to liner companies and other operators on long-term time charters at fixed rates. This provides predictable revenue streams and insulates the company from short-term charter rate fluctuations. Vessels are typically contracted by liner companies on long-term time charters.
2. Dry Bulk Charters: Revenue from dry bulk vessel charters, including Capesize dry bulk carriers
3. LNG Carrier Services (Alaska LNG): Future revenue from LNG carrier operations as preferred tonnage provider for Alaska LNG project (6+ LNG carriers expected to be required)

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Danaos is one of the world's largest independent owners of modern, large-size containerships, chartering its fleet of 75 vessels (ranging from 2,200 to 13,100 TEU capacity) and 11 Capesize dry bulk vessels to the world's largest liner companies on long-term time charters at fixed rates. The company provides predictable, recurring shipping capacity for global container trade and has expanded into LNG transportation through a strategic partnership with Glenfarne Group for the Alaska LNG project.

Product overview

Danaos Corporation operates as one of the world's largest independent owners of modern containerships, offering long-term chartering services to global liner companies. The company's core fleet consists of 75 containerships (ranging from 2,200 TEU to 13,100 TEU) and 11 Capesize dry bulk vessels, with 29 containership newbuildings and 4 dry bulk newbuildings under construction. Danaos provides container shipping capacity through time charters with fixed rates, insulating the company from short-term charter rate fluctuations. The company has expanded into LNG transportation through a strategic partnership with Glenfarne Group for the Alaska LNG project, where Danaos will serve as the preferred provider of at least six LNG carriers. The fleet operates under long-term contracts providing predictable cash flows, with a contracted revenue backlog of $4.1 billion.

Differentiator

Problem solved

Functional benefit

Products and services

• Containership Chartering Services Long-term chartering of modern containerships ranging from 2,200 TEU to 13,100 TEU capacity to major liner companies worldwide, providing predictable revenue streams through fixed-rate contracts. Fleet of 75 containerships with 29 newbuildings under construction.
• Dry Bulk Vessel Operations Capesize dry bulk vessel ownership and operation for global commodity transport, including 11 Capesize vessels with additional Newcastlemax carriers under construction for 2028 delivery.
• LNG Carrier Services LNG transportation services through strategic partnership with Glenfarne Group for the Alaska LNG project, positioning Danaos as preferred tonnage provider for at least six LNG carriers (6+ LNG carriers expected to be required).

Quantifiable outcome

• 100% charter coverage for 2026 with $4.1 billion contracted revenue backlog
• +4 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• Baker HughescoreStrategic or Co-development Partner · 22 January 2026Strategic partnership for equipment supply as part of Alaska LNG project development. Baker Hughes committed to provide equipment services for the LNG facility.
• POSCO InternationalcoreStrategic or Co-development Partner · 22 January 2026Supply partnership for steel materials for pipeline fabrication as part of Alaska LNG project Phase One construction.
• Worley LimitedcoreStrategic or Co-development Partner · 22 January 2026Provisionally selected for EPCM services for Alaska LNG pipeline construction. Completed Phase One engineering work and issued conditional awards for pipeline construction.
• Glenfarne GroupflagshipStrategic or Co-development Partner · 20 January 2026Strategic partnership to advance Alaska LNG project. Danaos invested $50 million in Glenfarne Alaska Partners LLC and committed to be preferred tonnage provider for at least six LNG carriers. Glenfarne holds 75% ownership of Alaska LNG, which involves a 765-mile pipeline from Alaska's North Slope and LNG export terminal with 20 MTPA capacity. Final investment decision expected in late 2026, with first gas delivery targeted for 2029.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Golar LNG Ltd: LNG carrier operator and FLNG provider. Comparable to Danaos's emerging LNG carrier ambitions through the Alaska LNG partnership, though a much more mature LNG player.
• Star Bulk Carriers Corp. Pure-play dry bulk owner-operator with significant Capesize/Newcastlemax exposure. Directly comparable to Danaos's dry bulk expansion (11 Capesize + 4 Newcastlemax newbuildings).
• Eagle Bulk Shipping Inc. Dry bulk shipowner operating Supramax/Ultramax vessels. Relevant peer for Danaos's dry bulk diversification strategy, though smaller scale.

Direct peers

• Seaspan Corporation: Largest independent containership lessor globally with a similar business model of long-term time charters to major liner companies. Closest direct comparable to Danaos in fleet size, charter structure, and customer profile.
• Costamare Inc. Major containership owner operating long-term charters to liner companies with comparable vessel sizes (including large containerships 8,000-14,000 TEU). Highly comparable business model and customer base.
• Global Ship Lease: Direct peer in containership leasing, similarly structured around long-term time charters to liner companies. Smaller scale but nearly identical operating model.
• MPC Container Ships: Smaller containership owner/charterer with a fleet focused on feeder and mid-size containerships. Comparable operating model of chartering to liner companies.

Broad incumbents

• ZIM Integrated Shipping Services: Major container liner company publicly listed on NYSE. While an operator rather than lessor, ZIM is a direct customer profile for Danaos and operates the same asset class.
• Hapag-Lloyd AG: One of the world's largest container liner companies and a customer profile for Danaos. Comparable in container shipping exposure, though as a liner operator rather than asset lessor.

Others

• Stolt-Nielsen Limited: Diversified shipping company with tankers, terminal operations, and seafood. Tangentially comparable as a publicly-traded, family-influenced shipping platform with multiple business lines.

Market position

Weaknesses5 records

Competitive moat5 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Danaos