Container shipping moves, in a unitized form, a wide range of goods from one part of the world to another, over long-haul, regional, and feeder routes. Growth has been relatively fast in comparison with other major shipping sectors, and container shipping represents an increasingly significant part of the overall seaborne transportation of goods in a global economy.
The main players in the industry are:
• Shippers who require the seaborne movement of containerized goods.
• Liner companies who operate container shipping services.
• Containership owners, often referred to as charter owners, who charter out containerships to liner companies and other operators.
The range of containership owners is varied, comprising liner companies that are often significant corporate entities and part of wider groups involved in other transportation activities, as well as charter owners who are specific players in the shipping business.
There are three main categories of containership, according to size:
• Post Panamax (over 4,250 TEU), used for long haul trips around the world and especially on East-West routes.
• Panamax (1,500 to 4,250 TEU) used on shorter routes for both East-West and North-South trades.
• Feeders (under 1,500 TEU) used to service smaller ports, mainly in the business of distributing boxes.
Danaos is a leading international owner of Panamax and Post Panamax containerships, chartering vessels to a geographically diverse group of liner companies, including the world's five largest.
With a current fleet of 54 containerships aggregating well in excess of 321,435 TEU, Danaos ranks among the largest containership charter owners in the world. The vessels are deployed under multi-year, fixed-rate time charters that range from less than one to 18 years for vessels in our current fleet, which provides us with stable cash flows and high utilization rates.