0001104659-15-066615.txt : 20150923 0001104659-15-066615.hdr.sgml : 20150923 20150923092423 ACCESSION NUMBER: 0001104659-15-066615 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150923 FILED AS OF DATE: 20150923 DATE AS OF CHANGE: 20150923 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Danaos Corp CENTRAL INDEX KEY: 0001369241 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1T FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33060 FILM NUMBER: 151120461 BUSINESS ADDRESS: STREET 1: 14 AKTI KONDYLI STREET 2: 185 45 PIRAEUS CITY: ATHENS STATE: J3 ZIP: 00000 BUSINESS PHONE: 011302104496480 MAIL ADDRESS: STREET 1: 14 AKTI KONDYLI STREET 2: 185 45 PIRAEUS CITY: ATHENS STATE: J3 ZIP: 00000 6-K 1 a15-19932_16k.htm 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR

15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September 2015

 

Commission File Number 001-33060

 

DANAOS CORPORATION

(Translation of registrant’s name into English)

 

Danaos Corporation

c/o Danaos Shipping Co. Ltd.

14 Akti Kondyli

185 45 Piraeus

Greece

Attention: Secretary

011 030 210 419 6480

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F   x        Form 40-F  o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

This report on Form 6-K is hereby incorporated by reference into the Company’s (i) Registration Statement on Form F-3 (Reg. No. 333-174500) filed with the SEC on May 25, 2011, (ii) Registration Statement on Form F-3 (Reg. No. 333-174494) filed with the SEC on May 25, 2011, (iii) Registration Statement on Form F-3 (Reg. No. 333-147099), the related prospectus supplements filed with the SEC on December 17, 2007, January 16, 2009 and March 27, 2009, (iv) Registration Statement on Form S-8 (Reg. No. 333-138449) filed with the SEC on November 6, 2006 and the reoffer prospectus, dated November 6, 2006, contained therein and (v) Registration Statement on Form F-3 (Reg. No. 333-169101).

 

 

 



 

EXHIBIT INDEX

 

99.1

 

Danaos Corporation September 23, 2015 press release

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: September 23, 2015

 

 

 

 

DANAOS CORPORATION

 

 

 

 

 

 

By:

/s/ Evangelos Chatzis

 

Name:

Evangelos Chatzis

 

Title:

Chief Financial Officer

 

3


EX-99.1 2 a15-19932_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

Danaos Corporation Announces Formation of Joint Venture and Acquisition of 3 Containerships

 

Athens, Greece, September 23, 2015 — Danaos Corporation (NYSE: DAC), one of the world’s largest independent owners of containerships, announced today the acquisition of three vessels through a newly-formed joint venture, capitalizing on depressed asset prices in the resale market.

 

The vessels were acquired by Gemini Shipholdings Corporation, a newly-formed entity (“Gemini”) beneficially owned by Danaos and its largest stockholder.  Danaos’ initial 49% ownership interest in Gemini was acquired through an investment of $7.35 million.

 

The vessels acquired are:

 

·                  The 6,422 TEU NYK Lodestar, built in 2001 at Samsung Heavy Industries, which has already commenced a 2 year time charter with NYK.

·                  The 5,610 TEU Suez Canal, built in 2002 at Hyundai Heavy Industries, which is on a 7 year bareboat charter to Gemini with a purchase obligation at the end of the charter.

·                  The 5,544 TEU Genoa built in 2002 at Imabari Shipbuilding, which is on a 7 year bareboat charter to Gemini with a purchase obligation at the end of the charter.

 

In each case, the vessels have been acquired at attractive discounts to their market values. The NYK Lodestar has been chartered for a 2 year term at an above market rate.  The average length of Danaos’ current vessel charters is 7.4 years with contracted revenue of $3.3 billion.  Danaos anticipates charter agreements for the Suez Canal and the Genoa will be entered into in the near future.

 

Dr. John Coustas, Chairman and CEO of Danaos commented:

 

“These acquisitions were made at a discount to the vessels’ present market value and demonstrate our ability to source accretive acquisitions through our strong relationships in the shipping and lending communities.

 

We are pleased to announce this new venture, which will allow Danaos to resume its growth strategy as weakness in the containership market presents compelling value.  It is important to stress that we are doing this without diluting our shareholders” continued Dr. Coustas.

 

Under the Gemini Shareholders Agreement, Danaos has the right to purchase all of the beneficial interest in Gemini that it does not own for fair market value at any time after December 31, 2018, or earlier if permitted under its credit facilities.

 

About Danaos Corporation:

 

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 59 containerships aggregating 351,815 TEUs, including three vessels owned by the joint venture, is predominantly chartered to many of the world’s largest liner companies on fixed-rate, long-term charters. Our long track record of success is predicated on our efficient and rigorous operational standards and environmental controls. Danaos Corporation’s shares trade on the New York Stock Exchange under the symbol “DAC”.

 



 

Visit our website at www.danaos.com

 

For further information please contact:

 

Company Contact:

 

Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6480
E-Mail: cfo@danaos.com

Iraklis Prokopakis
Senior Vice President and Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6400
E-Mail: coo@danaos.com

 

 

Investor Relations and Financial Media

 

 

 

Rose & Company

 

New York

 

Tel. 212-359-2228

 

E-Mail: danaos@rosecoglobal.com

 

 


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