Independent journal on economy and transport policy
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Carrier renter Danaos celebrates record financial results
Coustas: The excellent market conditions should ensure stellar performance for the next three years
November 9, 2021
In the third quarter of this year Danaos reported revenues record amounting to 195.9 million dollars, a figure that represents a increase of +64.7% on the same period of 2020 and an increase of 40 million compared to the previous historical quarterly peak marked in the third quarter of 2012.
In the period July-September 2021, operating profit also reached a new historical peak having amounted to 112.3 million of dollars, +112.9% more than in the third quarter last year and 36 million more than the previous one record also obtained in the third quarter of 2012. Danaos has filed the third quarter of this year with a net profit of 217.2 million dollars (+407.7%).
In the first nine months of 2021 the company registered revenues of 474.5 million dollars, with a growth of +38.8% on the corresponding period last year. Operating profit was attested to 242,6 million dollars (+65.2%) and the net profit to 886.8 million dollars (+703.5%).
Danaos expects the strong growth trend of its financial performance will be long-lasting: "the scheduled shipping companies - Coustas took over - are announcing record results that are extremely positive for Danaos given that the solid credit quality of our customers continue to improve. The continuous and relevant performance of Danaos is insured by the rentals already in place of the average duration of 3.3 years and from new rentals that block the current ones rates for several years. We expect - explained Coustas - that the excellent market conditions will persist in the short term, the which will support next year the need to carry out new rentals and this should ensure stellar performance for the next three years'.
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In the third quarter of this year Danaos reported revenues record amounting to 195.9 million dollars, a figure that represents a increase of +64.7% on the same period of 2020 and an increase of 40 million compared to the previous historical quarterly peak marked in the third quarter of 2012.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
