Danaos Company Culture

Danaos Company Overview

Danaos Corporation is a corporation domesticated in the Republic of The Marshall Islands on October 7, 2005, under the Marshall Islands Business Corporations Act, after having been incorporated as a Liberian company in 1998 in connection with the consolidation of its assets under Danaos Holdings Limited. In connection with its domestication in the Marshall Islands it changed its name from Danaos Holdings Limited to Danaos Corporation. It is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. It deploys its containership fleet mainly under multi-year charters with major liner companies that operate regularly scheduled routes between large commercial ports. The Company's vessels operate worldwide, carrying containers for many established charterers. The Company's main business is the acquisition and operation of vessels. It conducts its operations through the vessel owning companies whose main activity is the ownership and operation of containerships. The Company faces substantial competition from a number of experienced companies, including state-sponsored entities and major shipping companies. The Company's business and the operation of its vessels are materially affected by environmental regulation in the form of international, national, state and local laws, regulations, conventions and standards in force in international waters and the jurisdictions in which its vessels operate, as well as in the country or countries of their registration, including those governing the management and disposal of hazardous substances and wastes, the cleanup of oil spills and other contamination, air emissions, water discharges and ballast water management.