In its effort to capitalise on depressed asset prices, the Greek company has taken the 6,178-teu NYK Lodestar (built 2001), the 5,608-teu Suez Canal and the 5,000-teu Genoa (both built 2002).
The post-panamax trio will be owned by Gemini Shipholdings Corporation, a newly-formed entity with total equity of $15m, in which Danaos holds a 49% interest and the John Coustas family the rest.
John Coustas, chairman and chief executive of Danaos, said: “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.”
NYK Lodestar was acquired from NYK while the other two vessels were also controlled by Japanese interests.
Suez Canal and Genoa are on seven-year bareboat charters to Gemini with purchase obligations at the end of the charter while NYK Lodestar has already entered into a two-year deal with NYK.
TradeWinds understands the total value of the assets is around $60m.
Danaos said it has the right to purchase all the remaining interest in Gemini at any time after 31 December 2018, or earlier if permitted under its credit facilities.
