Replies to post #107 on Danaos Corp (DAC)

[grantastic]

the market for container transport has crashed since the charters were signed. There is an oversupply.

That's why shippers are laying up or scrapping vessels which are only 15 years old or newer.

You gotta know the shipping rates if you intend to invest in a shipper

[grantastic]

This ship is newer than most or all of DAC's fleet and it got scrapped:

http://www.bbc.com/news/business-38653546

Why do you think Hanjin went bankrupt? That's right, in part, they had to pay huge expensive charters to DAC when the revenue they earned from those ships wasn't even 1/4th what they were paying

Same with Zim.

If DAC is lucky, no more of its counterparties will go bankrupt, but every day brings DAC one day closer to the end of its luxurious overpriced revenue stream.