Greek shipowner Danaos Corporation has restarted its shipbuilding operations in China with another order for two container ships.
On February 10, Danaos announced its annual financial report for 2024, which revealed that in December last year, two new orders for 9,200 TEU container ships were placed and expected to be delivered in 2027.
Industry sources said the shipbuilder of the 2 new ships is Huangpu Wenchong Shipbuilding. This 9200TEU container ship adopts traditional fuel, equipped with desulfurization tower, the price of single ship is $105 million, and the total order price is $210 million.
This order marks Danaos’ return to shipbuilding less than five months after announcing a pause. In the middle of last year, Danaos placed an order at Dalian Shipbuilding Industry Corporation (DSIC) for five 9,200 TEU container ships, with each ship priced at approximately $104 million. Subsequently, on August 6, John Coustas, the CEO of Danaos, stated that the company would halt new ship orders due to market conditions and geopolitical factors.
Industry insiders analyzed that the earlier delivery period that Huangpu Wenchong could provide prompted Danaos to place another order.
Danaos is one of the world’s largest independent shipowners of container ships and dry bulk carriers and is listed on the New York Stock Exchange.In 2024, Danaos reported operating revenues of $1,014.1 million, of which $937.1 million was from its container ship business.
Danaos took delivery of six new container ships in 2024 and one in January 2025. in February 2025, the owner entered into an $850.0 million syndicated loan agreement to finance all of the remaining newbuild container ships, including the two most recent additions to the order book. Deliveries of newbuildings continue from 2026 to 2028.
Currently, Danaos has placed orders for 15 container ships, with a total capacity of 128,220 TEU. These ships are scheduled for delivery as follows: one in 2025, three in 2026, nine in 2027, and two in 2028. Danaos stated that all newbuilds will incorporate environmentally friendly technologies, including methanol fuel readiness, open-loop scrubbers, and Alternative Marine Power (AMP) systems. Additionally, the ships will be constructed in compliance with the International Maritime Organization (IMO) Tier III emission standards and the latest Energy Efficiency Design Index (EEDI) Phase III requirements.
It is worth noting that 13 of Danaos’ 15 newbuildings have been signed on multi-year charters, with an average charter term of approximately 5.1 years.Danaos said that the value of charters in hand, including newbuildings, now stands at US$3.4 billion based on the charters that have been signed.