Athens-based container and bulk cargo vessel owner Danaos Corporation recently reported its unaudited results for the period ended June 30, 2025.
The company's net income from its bulk and container vessel segments totalled US$130.904 million during the second quarter of 2025, compared to US$141.152 million for the same period last year. Adjusted gross operating profit meanwhile dropped only slightly year-on-year to US$176.041 million in Q2 2025 from US$176.788 million in Q2 2024.
H1 2025 operating revenues peaked at US$515.461 million compared to US$499.755 million in H1 2024. Time charter equivalent revenues also climbed year-on-year, totalling US$499.918 million in H1 2025 compared to US$484.723 million during the same period lass year.
However, H1 2025 net income decreased year-on-year to US$246.051 million (US$291.650 million in H1 2024).
Against the backdrop of uncertainties surrounding global trade and geopolitical developments such as the conflicts in Ukraine and Gaza, Danaos finds the absence of further escalation as "somewhat reassuring, though the potential for volatility remains elevated," according to company CEO Dr John Coustas.
"We continue to monitor developments closely, but we have not seen any new disruptions to global shipping routes in the past quarter," said Coustas.
"Our chartering strategy continues to deliver results. We added approximately US$113 million to our contracted revenue backlog since the previous earnings release, and our US$3.6 billion total contracted revenue base provides meaningful insulation from short-term market fluctuations.
"Our contracted charter coverage stands at 99 per cent for 2025 and 88 per cent for 2026, including newbuildings scheduled for delivery during this period."
On the dry bulk side, Danaos reported some seasonal firming in the market, but broader weakness persists, largely due to deflationary conditions in China.
"While we continue to evaluate opportunities in the sector, asset values for modern tonnage remain elevated, and we are in no rush to commit capital in an uncertain macroeconomic environment," added Coustas.
"As we move through the second half of the year, some uncertainties around global trade are beginning to subside. In particular, there is increasing clarity about tariffs, many of which have been or are being finalized at much lower rates than feared."
While tariffs on imports to the US will be much higher than historic averages, Coustas believes the US economy is stable, and American consumers will keep purchasing foreign goods.
"As inventories normalise, we anticipate a gradual improvement in trade flows."