Danaos orders four containerships

Danaos orders four containerships Danaos Corp. said it had signed contracts for four 6,800-TEU vessels with China Shipbuilding Trading Co. Ltd.
   The vessels will be built by the Shanghai Jiangnan Changxing Heavy Industry Co. Ltd., and are expected to be delivered to Danaos during the second and third quarters of 2010.
   The vessels' cost of about $400 million will be financed by existing credit facilities and the company’s own funds.
   This new order increases Danaos’ total orderbook to 19 containerships with a total carrying capacity of 102,324 TEUs or 73 percent of its current fleet.
   John Coustas, chief executive officer of Danaos, said the order was “initiating a relationship with the largest shipbuilding concern in China and potentially the largest shipbuilding facility in the world.”
   He added the ships “will be powered by Korean built electronic engines providing improved efficiency and lower emissions. The vessels are designed to comply with the latest environmentally friendly fuel oil tank regulations and will have a design speed of 25.3 knots.”