Danaos arranges 3 year charter for its 3,100TEU containership

Danaos Corporation (NYSE: DAC) announced that it has signed an agreement with YML to re-charter the YM Milano, a 3,100 TEU containership, for a period of 3 years beginning immediately after its current deployment starting July 2008 at an improved fixed charter rate. The vessel will trade in the Asia region.

"We are very pleased to have arranged this charter with YML, one of the largest liner companies in the world, with which we already have a longstanding relationship," said Dr. Coustas, Chief Executive Officer of Danaos. "The specific charter demonstrates that the charter market and the demand for containerships are still strong while with this re-chartering we have reached a charter cover for 2008 of almost 100%".