Danaos to Raise Funds for 26 New Builds

30 March 2010 (Last Updated March 30th, 2010 18:30)

Danaos Corporation is in talks with banks, shipyards and export credit agencies to raise funds for a newbuild programme in Asia. Danaos CEO John Coustas said the company is facing significant newbuild instalment payments during 2010 and 2011, for which it does not currently have finalise

Danaos Corporation is in talks with banks, shipyards and export credit agencies to raise funds for a newbuild programme in Asia.

Danaos CEO John Coustas said the company is facing significant newbuild instalment payments during 2010 and 2011, for which it does not currently have finalised financing.

“We have been in discussions with our current lenders, export credit agencies and the shipyards constructing the 26 new containerships, which are scheduled to be delivered to us between this spring and mid-2012,” Coustas said.

The Panamax and post-Panamax vessels on order include nine at Hanjin Heavy Industries and Construction, eight at Hyundai Samho Heavy Industries and five at Shanghai Jiangnan Changxing Heavy Industry, according to seatradeasia-online.com.