It is reported that Greek containership owning company Danaos has delayed the delivery of 15 new buildings from Chinese and Korean shipbuilders. In its quarterly results announcement, Danaos said that it had agreed with China Shipbuilding and Trading to delay the delivery of a quintet of 8,350 TEU vessels by 200 days each on average.

The company has also agreed with Hanjin Heavy Industries & Construction to delay the delivery of 10 containerships by about three months each, comprising five 6,500 TEU vessels and five 3,400 TEU vessels. The shipowner is now expecting to take delivery of 6 vessels this year, 12 in 2010, although three due in December 2010 may be delivered the following year and another 11 in 2011.

Mr John Coustas CEO of Danaos said that "We wish to reiterate that our vessels, both operating and those under construction, are under long time charters with some of the largest counterparties in the shipping industry. Although the current economic conditions are presenting everybody in our trade with new challenges, our chartering arrangements do not allow for unilateral modification of the prevailing terms."

Danaos reported a net profit of USD 20 million for the first quarter of 2009 as compared to USD 25.9 million in the same period a year earlier.

(Sourced from Lloyd's List)