Danaos Reports Higher Q2 Net Income as Shipping Rates Surge

Danaos Corporation posted a net income of $151.8 million for the quarter ended 30 June 2026, up from $130.9 million a year earlier. Adjusted net income rose to $133.1 million, or $7.29 per diluted share, compared with $117 million, or $6.36 per share, in Q2 2025. Operating revenue increased to $274.37 million from $262.15 million, driven primarily by a strong dry‑bulk market where Capesize day rates reached multi‑year highs.

The dry‑bulk segment contributed $18.8 million in adjusted EBITDA, while container‑ship revenue was broadly flat. Danaos expanded its contracted revenue backlog by about $683 million, taking total contracted operating revenue to $4.6 billion. Charter coverage for the containership fleet is 100 % for 2026, 93 % for 2027 and 79 % for 2028. In July the company took delivery of the 8,258‑TEU containership Santorini Express, which entered a long‑term charter immediately. The orderbook now includes 28 containerships (176,292 TEU) and four 211,000‑DWT Newcastlemax bulk carriers slated for 2028. Financing activities included $236 million of Japanese operating‑lease transactions and a $116.4 million prepayment on a syndicated loan, leaving 78 of its 87 vessels debt‑free as of early August.