Danaos Corporation, through its subsidiaries, operates as an international owner of containerships, chartering its vessels to various liner companies. As of February 27, 2015, the company had a fleet of 56 containerships aggregating 334,239 TEUs (twenty foot equivalent unit). Strategy The company’s strategy is to charter its containerships under multi-year, fixed-rate period charters to a diverse group of liner companies. Customers The company’s customers include China Shipping, CMA-CGM, Hanjin, Hyundai Merchant Marine, Niledutch, MSC, Yang Ming and ZIM Israel Integrated Shipping Services. Regulations Government regulation affects the ownership and operation of the company’s vessels. They are subject to international conventions, national, state and local laws, regulations and standards in force in international waters and the countries in which its vessels might operate or are registered, including those governing the management and disposal of hazardous substances and wastes, the cleanup of oil spills and other contamination, air emissions, wastewater discharges and ballast water management. These laws and regulations include the U.S. Oil Pollution Act of 1990; the U.S. Comprehensive Environmental Response, Compensation, and Liability Act; the U.S. Clean Water Act; the International Convention for Prevention of Pollution from Ships; regulations adopted by the International Maritime Organization (IMO) and the European Union; various volatile organic compound air emission requirements; and various Safety of Life at Sea amendments, as well as other regulations. The company’s vessels are subject to standards imposed by the IMO (the United Nations agency for maritime safety and the prevention of pollution by ships). Under the U.S. Environmental Protection Agency regulations, the company is required to obtain a U.S. Clean Water Act permit regulating and authorizing any discharges of ballast water or other wastewaters incidental to its normal vessel operations if the company operates within the 3-mile territorial waters or inland waters of the United States. The company’s vessels are subject to the Federal Clean Air Act vapor control and recovery standards for cleaning fuel tanks and conducting other operations in regulated port areas and emissions standards for so-called ‘Category 3’ marine diesel engines operating in the U.S. waters. Competition The company’s competitors include Zodiac Maritime, Seaspan Corporation, and Costamare Inc. History The company was founded in 1972. It was formerly known as Danaos Holdings Limited and changed its name to Danaos Corporation in 2005.
danaos corp (DAC:New York)
14 Akti Kondyli
Piraeus, 185 45
Phone: 30 210 41 96 480
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