Danaos has entered into an agreement with Hanjin Heavy Industries & Construction to cancel three new 6,500 TEU containerships, initially scheduled for delivery in the first half of 2012, eyefortransport reports.
The agreement was reached with the consent of Yang Ming Line, who was the charterer of these vessels.
At the same time, Danaos took delivery of one more newly built containership, the Hanjin Buenos Aires, expanding its operational fleet to a total of 45 containerships aggregating 193,629 TEU.
Built at Hanjin Heavy Industries, the 3,400 TEU Hanjin Buenos Aires began its ten-year time charter at a fixed charter rate immediately.
Earlier last month, Danaos took delivery of two newly built 6,500 TEU containerships: the CMA CGM NERVAL, built at Sungdong Shipbuilding & Marine Engineering, and the YM MANDATE, built at Hanjin Heavy Industries.
Immediately following delivery, the CMA CGM NERVAL began its twelve-year time charter and the YM MANDATE its eighteen-year bareboat charter.
These deliveries followed the March arrival of the 6,500 TEU CMA CGM MUSSET, built at Sungdong Shipbuilding & Marine Engineering. The vessel began its twelve-year time charter immediately.
Danaos is building another six large containerships with Hanjin Heavy Industries, all of which are fully funded by already-committed loan facilities from various commercial banks.