{"id":870443,"date":"2025-08-04T19:26:14","date_gmt":"2025-08-04T23:26:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/danaos-corporation-reports-second-quarter-and-half-year-results-for-the-period-ended-june-30-2025\/"},"modified":"2025-08-04T19:26:14","modified_gmt":"2025-08-04T23:26:14","slug":"danaos-corporation-reports-second-quarter-and-half-year-results-for-the-period-ended-june-30-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/danaos-corporation-reports-second-quarter-and-half-year-results-for-the-period-ended-june-30-2025\/","title":{"rendered":"Danaos Corporation Reports Second Quarter and Half Year Results for the Period Ended June 30, 2025"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n ATHENS, Greece<\/span>
\n <\/span>, Aug. 4, 2025<\/span><\/span> \/PRNewswire\/ — Danaos Corporation (“Danaos”) (NYSE: DAC), one of the world’s largest independent owners of container vessels and drybulk vessels, today reported unaudited results for the period ended June 30, 2025<\/span>.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n Financial Summary
<\/b>
\n Three Months Ended June 30, 2025 and Three Months Ended June 30, 2024
<\/b>
\n Unaudited
<\/b>
\n (<\/i>
\n Expressed in thousands of United States dollars, except as otherwise stated<\/i>
\n )<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June<\/b>
\n \u00a03<\/b>
\n 0<\/b>
\n , 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June<\/b>
\n \u00a03<\/b>
\n 0<\/b>
\n , 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n Financial &
Operating Metrics<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Container
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Dry bulk
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Other<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Total<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Container
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Dry bulk
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Other<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Total<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Operating Revenues<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $239,446<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $22,708<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $262,154<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $230,586<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $15,720<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $246,306<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Voyage Expenses,
excl. commissions<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(442)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(6,424)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(6,866)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(448)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(3,269)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(3,717)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Time Charter
Equivalent Revenues (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $239,004<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $16,284<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $255,288<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $230,138<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $12,451<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $242,589<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Net income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $115,893<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $266<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $14,745<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $130,904<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $133,683<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $2,290<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $5,179<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $141,152<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Adjusted net income(2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $116,680<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $266<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $11<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $116,957<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $127,063<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $2,290<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $2,955<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $132,308<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Earnings per share,
basic<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $7.14<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $7.30<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Earnings per share,
diluted<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $7.12<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $7.23<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Adjusted earnings per
share, diluted (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $6.36<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $6.78<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Operating Days<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,623<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 908<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 6,088<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 604<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Time Charter
Equivalent $\/day (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $36,087<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $17,934<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $37,802<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $20,614<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Ownership days<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,734<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 910<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 6,253<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 694<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Average number of
vessels<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 74.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 68.7<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7.6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Fleet Utilization<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 98.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 99.8\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 97.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 87.0\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Adjusted EBITDA (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $170,163<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $5,898<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(20)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $176,041<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $169,121<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $4,712<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $2,955<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $176,788<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n Consolidated Balance Sheet & Leverage Metrics<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n As of <\/b>
\n June<\/b>
\n \u00a03<\/b>
\n 0<\/b>
\n , 2025\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n As of December 31, 2024\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $546,164<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $453,384<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Availability under Revolving Credit Facility<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $270,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $292,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Marketable securities (3)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $107,919<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $60,850<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Total cash liquidity & marketable securities(4)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $924,083<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $806,734<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Debt, gross of deferred finance costs<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $770,326<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $744,546<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Net Debt (5)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $224,162<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $291,162<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n LTM Adjusted EBITDA (6)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $716,338<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $722,615<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Net Debt \/ LTM Adjusted EBITDA<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 0.31x\u00a0 \u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 0.40x\u00a0 \u00a0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n 1.<\/span>\n <\/p>\n<\/td>\n

\n

\n Time charter equivalent revenues and time charter equivalent US$\/day are non-GAAP measures. Refer to the reconciliation provided in
the appendix.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n 2.<\/span>\n <\/p>\n<\/td>\n

\n

\n Adjusted net income, adjusted earnings per share and adjusted EBITDA are non-GAAP measures. Refer to the reconciliation of net
income to adjusted net income and adjusted earnings per share; and net income to adjusted EBITDA provided below.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n 3.<\/span>\n <\/p>\n<\/td>\n

\n

\n Marketable securities refer to fair value of 6,256,181 and 4,070,214 shares of common stock of SBLK on June 30, 2025 and December
31, 2024 respectively.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n 4.<\/span>\n <\/p>\n<\/td>\n

\n

\n Total cash liquidity & marketable securities includes: (i) cash and cash equivalents, (ii) availability under our Revolving Credit Facility and
(iii) marketable securities.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n 5.<\/span>\n <\/p>\n<\/td>\n

\n

\n Net Debt is defined as total debt gross of deferred finance costs less cash and cash equivalents.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n 6.<\/span>\n <\/p>\n<\/td>\n

\n

\n Last twelve months Adjusted EBITDA. Refer to the reconciliation provided below.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

For management purposes, the Company is organized based on operating revenues generated from container vessels and dry-bulk vessels and has two reporting segments: (1) a container vessels segment and (2) a dry-bulk vessels segment. The Company measures segment performance based on net income. Items included in the applicable segment’s net income are directly allocated to the extent that the items are directly or indirectly attributable to the segments. With regards to the items that are allocated by indirect calculations, their allocation is commensurate to the utilization of key resources. The Other column includes components that are not allocated to any of the Company’s reportable segments and includes investments in an affiliate accounted for using the equity method of accounting and investments in marketable securities.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n Financial Summary
<\/b>
\n Six Months Ended June 30, 2025 and Six Months Ended June 30, 2024
<\/b>
\n Unaudited
<\/b>
\n (<\/i>
\n Expressed in thousands of United States dollars, except as otherwise stated<\/i>
\n )<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Six<\/b>
\n Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Six<\/b>
\n Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June 30<\/b>
\n , 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June 30<\/b>
\n , 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n Financial &
Operating Metrics<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Container
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Dry bulk
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Other<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Total<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Container
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Dry bulk
Vessels<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Other<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Total<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Operating Revenues<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $475,636<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $39,825<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $515,461<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $463,997<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $35,758<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $499,755<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Voyage Expenses,
excl. commissions<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(749)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(14,794)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(15,543)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(936)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(14,096)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(15,032)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Time Charter
Equivalent Revenues (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $474,887<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $25,031<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $499,918<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $463,061<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $21,662<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $484,723<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Net income\/(loss)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $234,938<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(6,276)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $17,389<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $246,051<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $272,042<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $2,627<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $16,981<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $291,650<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Adjusted net income \/
(loss) (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $236,483<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(6,276)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $172<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $230,379<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $265,919<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $2,627<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $3,778<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $272,324<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Earnings per share,
basic<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $13.27<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $15.05<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Earnings per share,
diluted<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $13.24<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $14.92<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Adjusted earnings per
share, diluted (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $12.39<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $13.93<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Operating Days<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13,074<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,740<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 12,107<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,200<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Time Charter
Equivalent $\/day (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $36,323<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $14,386<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $38,247<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $18,052<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Ownership days<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13,371<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,810<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 12,438<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,331<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Average number of
vessels<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 73.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 68.3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7.3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Fleet Utilization<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 97.8\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 96.1\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 97.3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 90.2\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Adjusted EBITDA (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $343,051<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $4,549<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $114<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $347,714<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $343,309<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $6,904<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $3,778<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $353,991<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n 1.<\/span>\n <\/p>\n<\/td>\n

\n

\n Time charter equivalent revenues and time charter equivalent US$\/day are non-GAAP measures. Refer to the reconciliation provided in the appendix.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n 2.<\/span>\n <\/p>\n<\/td>\n

\n

\n Adjusted net income\/(loss), adjusted earnings per share and adjusted EBITDA are non-GAAP measures. Refer to the reconciliation of
net income to adjusted net income and adjusted earnings per share; and net income to adjusted EBITDA provided below.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\n Highlights for the Second Quarter and Half Year Results Ended June 30, 2025<\/span>:<\/b>\n <\/p>\n