Danaos Corporation Sees Revenue Growth Amid Fleet Expansion

Danaos (DAC) has released an update.

Danaos Corporation reports a 2% increase in operating revenues to $246.3 million for Q2 2024, despite a slight drop in container vessel utilization and revenues, offset by the addition of drybulk vessels to its fleet. Vessel operating expenses rose to $47.1 million, attributed to fleet expansion, while interest expenses decreased due to lower finance costs. The company also experienced gains from insurance proceeds for a scrapped vessel and recognized dividend income from shares in Star Bulk Carriers Corp.

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