Danaos Corporation Adds One More 13,100 TEU Containership to its Fleet and Sells 28 Year Old Vessel
News Release
Danaos Corporation (Head Office)
May 11, 2012
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<DIV><FONT size=2 face=Arial><FONT size=3 face="Times New Roman">Athens, Greece,
May 7, 2012 - Danaos Corporation (NYSE: DAC) today announced that on May 3, 2012
it took delivery of one more newly built containership, the HYUNDAI SMART,
expanding its operational fleet to a total of 62 containerships aggregating
336,849 TEU. <BR><BR>The HYUNDAI SMART, built at Hyundai Samho Heavy Industries
Co. Ltd, has a carrying capacity of 13,100 TEU, is 366 meters long, 48.2 meters
wide and has a speed of 24.70 knots. The HYUNDAI SMART has commenced its 12-year
time charter at a fixed charter rate immediately upon delivery. The annualized
EBITDA run-rate contribution of the vessel is expected to be approximately $18.8
mil. <BR><BR>Further, the Company announced that on April 27, 2012, it sold the
28 year old 2,130 TEU containership "Montreal" to an unrelated third party for a
net price of $6.6 million. </FONT><BR><BR></FONT></DIV></BODY></HTML>
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<DIV><FONT size=2 face=Arial><FONT size=3 face="Times New Roman">Athens, Greece,
May 7, 2012 - Danaos Corporation (NYSE: DAC) today announced that on May 3, 2012
it took delivery of one more newly built containership, the HYUNDAI SMART,
expanding its operational fleet to a total of 62 containerships aggregating
336,849 TEU. <BR><BR>The HYUNDAI SMART, built at Hyundai Samho Heavy Industries
Co. Ltd, has a carrying capacity of 13,100 TEU, is 366 meters long, 48.2 meters
wide and has a speed of 24.70 knots. The HYUNDAI SMART has commenced its 12-year
time charter at a fixed charter rate immediately upon delivery. The annualized
EBITDA run-rate contribution of the vessel is expected to be approximately $18.8
mil. <BR><BR>Further, the Company announced that on April 27, 2012, it sold the
28 year old 2,130 TEU containership "Montreal" to an unrelated third party for a
net price of $6.6 million. </FONT><BR><BR></FONT></DIV></BODY></HTML>