Danaos Corp (DAC)

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Press Release Source: Danaos Corporation


Danaos Corporation Adds 39th Containership to Its Fleet
Tuesday January 6, 9:00 am ET


ATHENS, GREECE--(MARKET WIRE)--Jan 6, 2009 -- Danaos Corporation (NYSE:DAC - News) announced today January 6, 2009, that it took delivery of one more containership, the Zim Monaco, expanding its operational fleet to a total of 39 containerships aggregating 157,427 TEU.
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The Zim Monaco has a carrying capacity of 4,253 TEU and was built by Samsung Heavy Industries. It is 260 meters long, 32 meters wide and has a speed of 24.5 knots (about 45 Km/h). The Zim Monaco has already commenced its 12-year time charter at fixed rates immediately upon delivery. This vessel is recorded as the first vessel export in Korea's shipbuilding industry in 2009, and it is the 16th vessel Danaos has received from Samsung Heavy Industries out of the 18 vessels that Danaos has ordered in total at the shipyard.

"We enthusiastically welcome the latest delivery," said Dr. Coustas, Chief Executive Officer of Danaos. "We are proud to have taken delivery of the first 2009 built containership from Samsung Heavy Industries. The vessel has already commenced its 12-year time charter with Zim Line, one of the largest containership liner companies in the world. It is chartered at an accretive fixed charter rate which provides Danaos with an effective hedge against market charter rate volatility. We now own and operate a fleet of 39 containerships which provides Danaos with strong cash flows to further support our growth."

About Danaos Corporation

Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 39 containerships aggregating 157,427 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is the largest US listed containership company based on fleet size. Furthermore, the company has a contracted fleet of 30 additional containerships aggregating 226,456 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC".

Visit our website at www.danaos.com



Contact:
For further information please contact:

Company Contact:

Dimitri Andritsoyiannis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel: [phone]
E-Mail: [e-mail]

Iraklis Prokopakis
Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel. [phone]
E-Mail: [e-mail]

Investor Relations and Financial Media:
Nicolas Bornozis
President
Capital Link, Inc.
New York
Tel. [phone]
E-Mail: [e-mail]



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Source: Danaos Corporation