APL buying back two 5,506-TEU vessels from Danaos

APL buying back two 5,506-TEU vessels from Danaos APL this summer will buy back two 5,506-TEU containerships from Greek ship owner Danaos Corp. for a total of $88 million.
   The two ships, 'APL Scotland' and 'APL Holland,' will be returned to the Singapore-based ocean carrier when their charter contracts expire in mid-June.
   APL last year declared its purchase option for another 5,506-TEU box ship, 'APL England,' which will be redelivered at the same time as the other vessels.
   Danaos said the three sales would net the company $132 million.
   'The proceeds of these sales will be used to partly finance our extensive new building and delivery program we already have in place for the next three years,' said John Coustas, Danaos' chief executive officer.