JOHN Coustas-led Danaos Corp has returned to the newbuilding market, bolstering its already substantial orderbook with an additional pair of vessels, reports London's Riviera Maritime Media.

The US-listed Greek shipowner revealed on January 21 that its orderbook now comprises 16 vessels under construction, with a combined capacity of 134,234 TEU, representing an increase from the 14 vessels, totalling 115,834 TEU, disclosed during the company's Q3 earnings update last November.

Shipbroking sources indicate Danaos has placed an order for two 9,200-TEU container vessels at a shipyard affiliated with China State Shipbuilding Corp (CSSC).

While pricing and delivery schedules remain undisclosed, Greek shipbrokers estimate similar 9,000-TEU vessels are currently valued at approximately US$102 million in the shipbuilding market.

Danaos has secured multi-year charter contracts for all newbuildings, with durations ranging from two to five years at attractive rates.

As of Q3 2024, Danaos reported total contracted cash operating revenues of US$3.3 billion, underpinned by its concluded charter agreements.

The company's container ship fleet had an average contracted charter duration of 3.4 years, weighted by aggregate contracted hire. Danaos is set to release its Q4 2024 results on February 10.

Danaos, one of the largest independent owners of container vessels, operates a fleet of 73 ships with a combined capacity of 465,463 TEU. In addition, the company has amassed a fleet of 10 Capesize bulk carriers through second-hand purchases, totalling 1.76 million dwt in carrying capacity.

Speaking on strategic investments, Danaos chief commercial officer Filippos G Prokopakis emphasised in an interview last year that focusing on newbuildings with the right vessel size is key to navigating the current shipping environment effectively.