Independent owner of containerships Danaos Corporation has signed an agreement to purchase six 5,466 twenty-foot equivalent unit (TEU) container vessels for $260m.

The eco-design, wide-beam vessels were built together at Hanjin Subic Bay shipyard in the Philippines and feature enhanced load efficiency and better fuel consumption characteristics compared to conventional ships.

They have an average lifespan of 6.8 years.

According to the company, the ships are on time charter contracts to liner firms with a weighted average charter period of nearly two years.

Danaos will finance the deal by using cash in hand. The company is also considering debt financing alternatives to finance a part of the purchase price.

It expects an increase of $71m in contracted revenue and $39m in contracted EBITDA after the completion of the acquisition.

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Danaos CEO Dr John Coustas said: “We are very pleased to announce an immediately accretive acquisition of a modern fleet at a fraction of the newbuilding cost and considerably lower than its charter free market value.

“The purchase price and contracted revenue associated with the vessels significantly reduce the residual risk of this transaction. Also, the targeted vessel segment has very favourable supply dynamics, and the vessels’ staggered charters with durations between one and three years provide re-chartering upside.”

The ships will be progressively delivered to the company by the end of this quarter.

Earlier this month, Danaos exercised its option to purchase the outstanding equity interests in its joint venture Gemini Shipholdings Corporation. Gemini’s fleet includes five containerships.

Meanwhile, Danaos’s fleet features 65 containerships, with an average capacity of 403,793 TEU.