Sunday, April 22, 2018 4:57:59 PM
If you are buying stocks based on a bet that container shippings rates will go up, that's a perfectly valid speculation.
Then the question becomes: Why DAC? There are other shippers who are as much or more exposed to a rise in container rates (e.g., larger vessels, newer vessels, new ships on order, etc) not to mention DAC still has that sword of default hanging over their necks.
Yes they've lasted 2 years without consequence on their default and maybe they can ride it all the way until payoff... but my hunch is that if there is any kind of significant rally in shipping rates (which would raise the value of DAC's vessels) ... the lenders will immediately swoop in and demand their concessions while their foreclosure equity is good. That's when we could see another dilution.
You keep talking about "finding new customers" which of course they can do, the issue isn't new customers, the issue is that no new customers will pay above-market rates. So there's no way DAC can replace their shrinking charter income, because those charters were signed a decade+ ago when market rates were 8x as high as they are today.
I'm not at all trying to discourage your or anyone from owning the stock. I'm just hoping someone can make a coherent case for this company past the mirage of temporarily-good revenues which run out before the debt runs out.
The fact that you think BDI is relevant to DAC's income suggests you haven't looked at this stock any further than the simplest financial metrics, and you don't seem to accept the structural difficulties it will face in the next 5-7 years.
Recent DAC News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 09:15:13 PM
- Danaos Corporation Announces Availability of its Annual Report on Form 20-F for the Year Ended December 31, 2023 • Business Wire • 03/04/2024 12:30:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 09:52:07 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/23/2024 09:09:31 PM
- Danaos Corporation Reports Results for the Fourth Quarter and Year Ended December 31, 2023 • Business Wire • 02/13/2024 09:30:00 PM
- Danaos Corporation Announces Date for the Release of Fourth Quarter 2023 Results, Conference Call and Webcast • GlobeNewswire Inc. • 02/08/2024 12:30:00 PM
- Live Webinar on the Container Shipping Sector with Senior Executives from Publicly Listed Companies: Thursday, December 7, 2023, at 10 a.m. ET • GlobeNewswire Inc. • 12/04/2023 03:57:29 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/15/2023 09:30:17 PM
- Danaos Corporation Reports Third Quarter and Nine Months Ended September 30, 2023 • Business Wire • 11/13/2023 09:30:00 PM
- Danaos Corporation Announces Date for the Release of Third Quarter 2023 Results, Conference Call and Webcast • Business Wire • 10/27/2023 11:44:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/07/2023 12:00:50 PM
- Danaos Corporation Reports Second Quarter and Half Year Results for the Period Ended June 30, 2023 • Business Wire • 08/07/2023 11:30:00 AM
- Danaos Corporation Announces Date for the Release of Second Quarter 2023 Results, Conference Call and Webcast • Business Wire • 07/19/2023 12:23:00 PM
- Danaos Corporation Delivers Letter to Eagle Bulk Shipping Board of Directors • Business Wire • 06/26/2023 10:14:00 PM
- Live Webinar: Wednesday, May 31, 2023, at 10 a.m. EST Danaos Corporation, Euroseas Ltd., Global Ship Lease and MPC Container Ships To Discuss the Container Sector Current Trends & Outlook • GlobeNewswire Inc. • 05/24/2023 07:05:00 PM
- DATABLE TECHNOLOGY CORPORATION PROVIDES BI-WEEKLY STATUS REPORT • PR Newswire (Canada) • 05/18/2023 01:00:00 AM
- Danaos Corporation Announces Retirement of Mr. Iraklis Prokopakis, Senior Vice President and Chief Operating Officer of Danaos Corporation • Business Wire • 05/15/2023 08:45:00 PM
- Danaos Corporation Reports First Quarter Results for the Period Ended March 31, 2023 • Business Wire • 05/15/2023 08:30:00 PM
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