Danaos Corporation reported net income of $151.8 million for the second quarter ended June 30, up from $130.9 million recorded during the same period in 2025.
Operating revenue for the containership and dry bulk vessel owner increased to $274.37 million from $262.15 million a year earlier, supported by stronger conditions in the dry bulk market.
Adjusted net income rose to $133.1 million, or $7.29 per diluted share, compared with $117 million, or $6.36 per diluted share, in the second quarter of 2025. For the first six months of 2026, the company reported net income of $292.2 million on operating revenue of $528.07 million.
Chief Executive Officer John Coustas said geopolitical conflicts and US trade restrictions had contributed to tighter market conditions across most shipping sectors.
He added that Capesize rates reached multi-year highs during the quarter, with the dry bulk segment contributing $18.8 million in adjusted earnings before interest, taxes, depreciation, and amortisation.
During the quarter, Danaos expanded its contracted revenue backlog by approximately $683 million through charter extensions, increasing total contracted operating revenue to $4.6 billion. Charter coverage for its containership fleet stands at 100 per cent for 2026, 93 per cent for 2027, and 79 per cent for 2028.
In July, the company took delivery of the 8,258 TEU containership Santorini Express, which immediately commenced a long-term charter.
Danaos' orderbook comprises 28 containerships with a combined capacity of 176,292 TEU, alongside four 211,000 DWT Newcastlemax bulk carriers scheduled for delivery in 2028.
To support fleet expansion, Danaos completed $236 million in Japanese operating lease transactions in May to finance three vessels scheduled for delivery between the second and third quarters of 2027. The company also prepaid $116.4 million of outstanding principal under a syndicated loan facility in June, leaving 78 of its 87 vessels debt-free as of August 3.
