NYSE: DAC 1.65 -0.15 -8.33% Volume: 34,871
Minimum 20 minute delay
March 24, 2017

Our operations are managed by Danaos Shipping. Danaos Shipping was founded by Dimitris Coustas in 1972 and has continuously provided seaborne transportation services to us.

Our manager is regarded as an innovator in operational and technological aspects in the international shipping community. Danaos Shipping's strong technological capabilities derive from employing highly educated professionals, its participation and assumption of a leading role in European Community research projects related to shipping, and its close affiliation to Danaos Management Consultants, a leading shipmanagement software and services company.

We believe our manager has built a strong reputation in the shipping community by providing customized, high-quality operational services in an efficient manner for both new and older vessels. We further believe that we have and will derive significant benefits from our relationship with Danaos Shipping.

Danaos Shipping achieved early ISM certification of its container fleet in 1995, well ahead of the deadline, and was the first Greek company to receive such certification from Det Norske Veritas, a leading classification society. In 2004, Danaos Shipping received the Lloyd's List Technical Innovation Award for advances in internet-based telecommunication methods for vessels. Danaos Shipping maintains the quality of its service by directly controlling the selection and employment of seafarers through its crewing offices in Piraeus, Greece, Russia, as well as in Odessa and Mariupol in Ukraine and in Zanzibar, Tanzania. Investments in new facilities in Greece by Danaos Shipping enable enhanced training of seafarers and highly reliable infrastructure and services to the vessels.

Danaos Shipping directly selects and employs seafarers to serve aboard Danaos Corporation’s fleet. As of December 31, 2015, 1,223 people served on board the vessels in our fleet and Danaos Shipping, our manager, employed 147 people, all of whom were shore-based.

We believe the streamlining of crewing arrangements through our manager ensures that all of our vessels will be crewed with experienced crews that have the qualifications and licenses required by international regulations and shipping conventions.

Danaos Management Consultants provides the ship management software deployed on the vessels in our fleet to our manager at no cost.