'Next point of focus': Danaos expands energy push amid geopolitical changes

In its Q1 financial report, the US-listed Greek owner revealed that it acquired an approximately 1.9% equity stake last month in Yoda PLC, a Cyprus-listed investment company whose portfolio focuses on shipping investments in the LNG and container sectors, real estate, and other participations.

Notably, Yoda PLC is also a significant shareholder in US-listed Greek shipping company Capital Clean Energy Carriers (CCEC), backed by Evangelos Marinakis.

The shares were acquired for a total cash consideration of approximately US$58.6M.

This marks Danaos’ second LNG-related investment in recent months. The company has also made a US$50M equity investment in Glenfarne Group in connection with the Alaska LNG project.

“The energy sector is our next point of focus,” Danaos chief executive Dr Coustas said during the company’s earnings call.

Amid geopolitical changes, we are closely monitoring the sector and exploring opportunities from every angle – not only in transportation, but also in LNG production itself, he added.

Danaos has also continued to expand its sizeable orderbook. The company recently added two 5,000-TEU container vessels, scheduled for delivery in 2027, and has already secured three-year charters for both ships. Prior to delivery, the charterers retain the option to extend the firm charter period to as much as 7.4 years.

The owner is now managing a newbuilding programme comprising 29 container vessels with a combined capacity of 184,550 TEU, scheduled for delivery through 2029, as well as four Newcastlemax bulk carriers due for delivery in 2028.

On a fully delivered basis, Danaos’ fleet will consist of 104 container vessels with a total capacity of 662,041 TEU and 15 bulk carriers totalling 2.8M dwt.

Increased profitability, fresh charters

Danaos posted operating revenues of US$253.7M in Q1 2026, compared with US$253.3M in the same period last year, while net income increased to US$140.4M from US$115.1M.

The company also expanded its backlog through new charter agreements worth US$120M. As a result, total contracted operating revenues now stand at US$4.1Bn, including vessels currently under construction.

The remaining average contracted charter duration for the container vessel fleet is 4.2 years, with coverage fully secured for 2026, nearly 88% fixed for 2027, and more than 65% fixed for 2028.

Commenting on disruptions in the Middle East, Dr Coustas said the impact has primarily benefited the tanker sector. In container shipping, he noted, certain freight rates had stabilised and even strengthened, although without any major overall effect.

Two of the company’s vessels remain in the Middle East Gulf, but this “does not affect our earnings, as both vessels continue to operate under charter,” he added.