Danaos linked to $218m order for two containerships at Chinese yard

Greek shipowner Danaos has been identified by brokers as the prospective buyer of two containerships worth a combined $218m at Shanghai Waigaoqiao Shipbuilding, Splash247 reported. The proposed investment by the New York-listed company, led by John Coustas, would extend its run of orders at Chinese yards as it expands and renews its container fleet.

Splash247 cited Xclusiv Shipbrokers as saying the two 9,200 teu vessels would cost approximately $109m apiece and be delivered in 2029. The yard is controlled by CSSC. Neither Danaos nor the builder has publicly verified the transaction, which would be the owner’s first newbuilding contract with Waigaoqiao if it goes ahead.

Danaos already has seven ships of the same 9,200 teu capacity being built elsewhere in China. Those orders were placed in 2024, with handovers expected during 2027 and 2028. Its other recent commitments include six 1,800 teu feeder ships ordered in November last year for delivery through 2029, and four 5,300 teu vessels at CSSC Huangpu Wenchong that were disclosed in February.

According to the company’s corporate update at the start of October, cited by Splash247, Danaos operated 78 containerships with aggregate capacity of 502,265 teu. Its newbuilding portfolio comprised a further 28 vessels, representing 177,776 teu. The broker-reported Waigaoqiao transaction remains unconfirmed, separate from those published fleet figures.

The owner has also expanded into dry bulk, holding 11 capesize vessels and commissioning four 211,000 dwt newcastlemaxes at China’s Dajin Heavy Industry. Splash247 put the investment in those four ships at about $297m. Danaos had been considering a separate Oslo listing for the 15-vessel bulker business, potentially involving the sale of a minority stake.

Those listing preparations have reportedly been paused after discussions with investors did not yield an acceptable valuation against weaker dry bulk freight rates and stock market conditions. Danaos has neither formally confirmed a delay nor provided a new timetable. In its 9 October US securities filing, the company cautioned that the proposed listing was not certain to proceed.