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As filed with the Securities and Exchange Commission on March 19, 2020
Registration No. 333-
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
Form F-3
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
 
DANAOS CORPORATION
(Exact Name of Registrant as Specified in its Charter)

 

Republic of The Marshall Islands	 	4412	 	Not Applicable	
(State or Other Jurisdiction of	 	(Primary Standard Industrial	 	(I.R.S. Employer	
Incorporation or Organization)	 	Classification Code Number)	 	Identification No.)	
 
c/o Danaos Shipping Co. Ltd, Athens Branch
14 Akti Kondyli
185 45 Piraeus
Greece
011 030 210 419 6480
(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)
 
Puglisi & Associates
850 Library Avenue, Suite 204
Newark, Delaware  19711
(302) 738-6680 (Phone)
(302) 738-7210 (Fax)
(Name, address, including zip code, and telephone number, including area code, of agent for service)

 
Copies of all communications, including communications sent to agent for service, should be sent to:

Evangelos Chatzis	Finn Murphy, Esq.	
Chief Financial Officer	Morgan, Lewis & Bockius LLP	
c/o Danaos Shipping Co. Ltd.,	101 Park Avenue	
Athens Branch	New York, New York 10178	
14 Akti Kondyli	United States of America	
185 45 Piraeus	Telephone: +1 (212) 309-6000	
Greece	Facsimile: +1 (212) 309-6001	
Telephone: +30 210 419 6480	 	
Facsimile: +30 210 419 6489	 	
 
Approximate date of commencement of proposed sale to the public:
From time to time after this registration statement becomes effective.
 
If only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. o
 
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box.  x
 
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  o
 
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  o
 
If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.  o
 
If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.  o
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405.  o
 
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.  o
 
CALCULATION OF REGISTRATION FEE

Title of each class of securities
to be registered	 	Amount to be
Registered(1)	 	Proposed Maximum
Offering Price Per
Unit(2)	 	Proposed Maximum
Aggregate Offering
Price(2)	 	Amount of
Registration Fee	
Common stock, $0.01 par value per share	 	4,849,916	 	$	3.68	 	$	17,847,690.88	 	$	2,316.64	

(1)         Pursuant to Rule 416 of the Securities Act of 1933, as amended (the “Securities Act”), the number of shares of common stock being registered on behalf of the selling shareholders shall be adjusted automatically to include any shares of common stock that may become issuable as a result of any share distribution, split, combination or similar transaction.
 
(2)         Estimated solely for the purposes of calculating the registration fee, computed pursuant to Rule 457(c) under the Securities Act on the basis of the average of the high and low sales prices of a share of Danaos Corporation common stock, as reported on the New York Stock Exchange on March 16, 2020.
 
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

 

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The information in this prospectus is not complete and may be changed.  These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective.  This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
 
SUBJECT TO COMPLETION, DATED MARCH 19, 2020
 
PROSPECTUS

Danaos Corporation
 
4,849,916 Shares of Common Stock
 
This prospectus relates to the resale, from time to time, of up to 4,849,916 shares of common stock of Danaos Corporation (referred to herein as “we”, “us”, “Danaos” or the “Company”), being offered by the selling stockholders identified herein.  The selling stockholders may sell their shares, from time to time, in one or more offerings, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices.  The selling stockholders may sell shares in a manner including, but not limited to, regular brokerage transactions, in transactions directly with market makers or investors, in privately negotiated transactions or through agents or underwriters they may select from time to time.  See “Plan of Distribution” for more information on the methods of sale that may be used by the selling stockholders.
 
We are not offering any common stock for sale under this prospectus, and we will not receive any proceeds from the sale of the common stock by the selling stockholders.
 
We may amend or supplement this prospectus from time to time by filing amendments or supplements as required.  You should read this entire prospectus, including the information incorporated by reference into this prospectus, and any amendments or supplements before you make your investment decision.
 
Our common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “DAC.” On March 16, 2020, the last reported sale price of our common stock was $3.27 per share, as reported by the NYSE.
 
Investing in our common stock involves risks that are described in the “Risk Factors” section beginning on page 3 of this prospectus and the “Risk Factors” section of our Annual Report on Form 20-F that is incorporated by reference into this prospectus.
 
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

 
The date of this prospectus is                    , 2020.

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TABLE OF CONTENTS

 	Page	
 	 	
ABOUT THIS PROSPECTUS	ii	
 	 	
WHERE YOU CAN FIND ADDITIONAL INFORMATION	iii	
 	 	
INCORPORATION BY REFERENCE OF CERTAIN DOCUMENTS	iv	
 	 	
FORWARD-LOOKING STATEMENTS; CAUTIONARY INFORMATION	v	
 	 	
PROSPECTUS SUMMARY	1	
 	 	
THE OFFERING	2	
 	 	
RISK FACTORS	3	
 	 	
USE OF PROCEEDS	3	
 	 	
CAPITALIZATION	4	
 	 	
SELLING STOCKHOLDERS	4	
 	 	
PLAN OF DISTRIBUTION	6	
 	 	
TAXATION	8	
 	 	
EXPENSES	9	
 	 	
EXPERTS	9	
 	 	
LEGAL MATTERS	9	
 	 	
SERVICE OF PROCESS AND ENFORCEMENT OF CIVIL LIABILITIES	9	
 
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ABOUT THIS PROSPECTUS
 
This prospectus is part of a resale registration statement that we have filed with the SEC pursuant to which the selling stockholders named in this prospectus may, from time to time, offer and sell the common stock covered by this prospectus in one or more offerings. You should not assume that the information contained in this prospectus is accurate on any date subsequent to the date set forth on the front cover of this prospectus or that any information we have incorporated by reference is correct on any date subsequent to the date of the document incorporated by reference, even though this prospectus is delivered or shares of common stock are sold or otherwise disposed of on a later date. It is important for you to read and consider all information contained in this prospectus, including the documents incorporated by reference herein, in making your investment decision. You should also read and consider the information in the documents to which we have referred you under the captions “Where You Can Find Additional Information” and “Incorporation by Reference of Certain Documents” in this prospectus.
 
We have not authorized anyone to provide any information or to make any representations other than those contained or incorporated by reference in this prospectus. You must not rely upon any information or representation not contained or incorporated by reference in this prospectus. This prospectus does not constitute an offer to sell or the solicitation of an offer to buy any of our securities other than the common stock covered hereby, nor does this prospectus constitute an offer to sell or the solicitation of an offer to buy any common stock in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.
 
This prospectus contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. Please read “Risk Factors” and “Forward-looking Statements; Cautionary Information.”
 
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WHERE YOU CAN FIND ADDITIONAL INFORMATION
 
We have filed with the SEC a registration statement on Form F-3 under the Securities Act of 1933, as amended (the “Securities Act”), with respect to the offer and sale of securities pursuant to this prospectus. This prospectus, filed as a part of the registration statement, does not contain all of the information set forth in the registration statement. The registration statement includes and incorporates by reference additional information and exhibits. Statements made in this prospectus concerning the contents of any contract, agreement or other document filed as an exhibit to the registration statement are summaries of all of the material terms of such contracts, agreements or documents, but do not repeat all of their terms. Reference is made to each such exhibit for a more complete description of the matters involved and such statements shall be deemed qualified in their entirety by such reference. The registration statement and the exhibits and schedules thereto filed with the SEC are available without charge on the website maintained by the SEC at http://www.sec.gov that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC.
 
We are subject to the information and periodic reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and we file periodic reports and other information with the SEC. These periodic reports and other information are available on the website of the SEC referred to above. As a “foreign private issuer”, we are exempt from the rules under the Exchange Act prescribing the furnishing and content of proxy statements to stockholders, but we are required to furnish certain proxy statements to stockholders under NYSE rules. Those proxy statements are not expected to conform to Schedule 14A of the proxy rules promulgated under the Exchange Act. In addition, as a “foreign private issuer”, we are exempt from the rules under the Exchange Act relating to short swing profit reporting and liability.
 
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INCORPORATION BY REFERENCE OF CERTAIN DOCUMENTS
 
The SEC allows us to “incorporate by reference” the information we file with the SEC. This means that we can disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is considered to be part of this prospectus. Any information that we file later with the SEC and that is deemed incorporated by reference will also be considered to be part of this prospectus and will automatically update and supersede the information in this prospectus. In all cases, you should rely on the later information over different information included in this prospectus.
 
This prospectus incorporates by reference the following documents:
 
·                  our Annual Report on Form 20-F for the year ended December 31, 2019, filed with the SEC on February 27, 2020; and
 
·                  our Registration Statement on Form 8-A filed with the SEC on October 2, 2006, and any amendments or reports filed updating that description.
 
We are also incorporating by reference all subsequent Annual Reports on Form 20-F that we file with the SEC and certain reports on Form 6-K that we furnish to the SEC after the date of this prospectus (in each case, if such Form 6-K states that it is incorporated by reference into this prospectus) until we file a post-effective amendment indicating that the offering of the securities made by this prospectus has been terminated. In all cases, you should rely on the later information over different information included in this prospectus.
 
We will provide, free of charge upon written or oral request, to each person to whom this prospectus is delivered, including any beneficial owner of the securities, a copy of any or all of the information that has been incorporated by reference into this prospectus, but which has not been delivered with the prospectus. Copies of these documents also may be obtained on the “Investors” section of our website at www.danaos.com. The information contained on or linked to or from our website is not incorporated by reference into this prospectus and should not be considered part of this prospectus. Requests for such information should be made to us at the following address:
 
Danaos Corporation
c/o Danaos Shipping Co. Ltd.
14 Akti Kondyli
185 45 Piraeus, Greece
Telephone No.: + 30 210 419 6401
Fax No.: + 30 210 419 6489
Attention: Chief Financial Officer
 
You should assume that the information appearing in this prospectus and any accompanying prospectus supplement, as well as the information we previously filed with the SEC and incorporated by reference, is accurate as of the dates on the front cover of those documents only. Our business, financial condition and results of operations and prospects may have changed since those dates.
 
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FORWARD-LOOKING STATEMENTS; CAUTIONARY INFORMATION
 
All statements in this prospectus (and in the documents incorporated by reference herein) that are not statements of historical fact are “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. The disclosure and analysis set forth in this prospectus includes assumptions, expectations, projections, intentions and beliefs about future events in a number of places, particularly in relation to our operations, cash flows, financial position, plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. These statements are intended as “forward-looking statements”. In some cases, predictive, future-tense or forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could” and “expect” and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. In addition, we and our representatives may from time to time make other oral or written statements which are forward-looking statements, including in our periodic reports that we file with the SEC, other information sent to our security holders, and other written materials. We caution that these and other forward- looking statements included in this prospectus (and in the documents incorporated by reference herein) represent our estimates and assumptions as of the date of this prospectus (and as of the date of the documents incorporated by reference herein) or the date on which such oral or written statements are made, as applicable, about factors that are beyond our ability to control or predict, and are not intended to give any assurance as to future results.
 
Factors that might cause future results to differ include, but are not limited to, the following:
 
·                  future operating or financial results;
 
·                  pending acquisitions and dispositions, business strategies and expected capital spending;
 
·                  operating expenses, availability of crew, number of off-hire days, drydocking requirements and insurance costs;
 
·                  general market conditions and shipping market trends, including charter rates, vessel values and factors affecting supply and demand, which may be impacted by the recent outbreak of coronavirus disease 2019, also known as COVID-19, and ongoing responses thereto;
 
·                  our ability to comply with the terms of the agreements entered into in connection with the 2018 Refinancing, as that term is defined in our Annual Report on Form 20-F for the year ended December 31, 2019;
 
·                  our financial condition and liquidity, including our ability to comply with covenants in our financing arrangements and to service or refinance our outstanding indebtedness;
 
·                  performance by our charterers of their obligations;
 
·                  the availability of ships to purchase, the time that it may take to construct new ships, or the useful lives of our ships;
 
·                  our ability to obtain financing in the future to fund acquisitions and other general corporate activities;
 
·                  our continued ability to enter into multi-year, fixed-rate period charters with our customers;
 
·                  our ability to leverage to our advantage our manager’s relationships and reputation in the containership shipping sector of the international shipping industry;
 
·                  changes in governmental rules and regulations or actions taken by regulatory authorities;
 
·                  potential liability from future litigation; and
 
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·                  other factors discussed in “Risk Factors” in this prospectus and the documents incorporated by reference herein.
 
We undertake no obligation to update or revise any forward-looking statements contained in this prospectus, whether as a result of new information, future events, a change in our views or expectations or otherwise. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.
 
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PROSPECTUS SUMMARY
 
This summary highlights information contained in other parts of and incorporated by reference into this prospectus. Because it is only a summary, it does not contain all of the information that you should consider before investing in our common stock and it is qualified in its entirety by, and should be read in conjunction with, the more detailed information appearing elsewhere in and incorporated by reference into this prospectus. You should read the entire prospectus carefully, and all documents incorporated by reference into this prospectus, including “Risk Factors” and our financial statements and the related notes, before deciding to buy our common stock.
 
Our Company
 
We are an international owner of containerships with more than 40 years’ experience owning, managing and chartering our vessels to many of the world’s largest liner companies. As of March 1, 2020, we had a fleet of 61 containerships aggregating 368,773 twenty foot equivalent units (“TEUs”, the international standard measure of containers), making us among the largest containership charter owners in the world, based on total TEU capacity. Our fleet of 61 containerships includes five containerships of 32,531 TEU aggregate capacity owned by Gemini Shipholdings Corporation, in which we have a 49% minority equity interest. As of March 1, 2020, we also had entered into agreements to acquire a 8,463 TEU containership built in 2005 and a 8,533 TEU containership built in 2005, each with expected delivery to us by the end of May 2020.
 
Our strategy is to charter our containerships principally under favorable, multi-year, fixed-rate period charters, to a diverse group of major liner companies that operate regularly scheduled routes between large commercial ports.
 
Our Corporate Information
 
Danaos Corporation, formerly Danaos Holdings Limited, was formed on December 7, 1998 under the laws of Liberia. We operate through a number of wholly-owned subsidiaries which own the vessels in our fleet. Danaos Holdings Limited was redomiciled in the Marshall Islands on October 7, 2005. In connection with the redomiciliation, the Company changed its name to Danaos Corporation.
 
Our principal executive offices are c/o Danaos Shipping Co. Ltd., Athens Branch, 14 Akti Kondyli, 185 45 Piraeus, Greece. Our telephone number at that address is +30 210 419 6480. Our website is http://www.danaos.com. Information contained on, or that can be accessed through, our website does not constitute a part of this prospectus and is not incorporated by reference herein. We have included our website address in this prospectus solely as an inactive textual reference.
 
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THE OFFERING

Issuer	 	Danaos Corporation, a Marshall Islands corporation.	
 	 	 	
Common stock offered by the selling stockholders	 	4,849,916 shares of common stock	
 	 	 	
Common stock issued and outstanding	 	24,789,312 shares of common stock(1)	
 	 	 	
Selling stockholders	 	The selling stockholders are entities affiliated with directors and officers of the Company and officers the Company, which purchased shares of common stock from us in our underwritten public offering in November 2019 and in secondary market transactions. See “Selling Stockholders.”	
 	 	 	
Determination of offering price	 	The selling stockholders may sell all or some of the shares of our common stock offered hereby from time to time at those prices as they may determine at the time of sale, as more fully described under the heading “Plan of Distribution.”	
 	 	 	
Use of proceeds	 	The selling stockholders will receive all of the proceeds from the sale of any common stock sold by them pursuant to this prospectus. We will not receive any proceeds from the sale of any common stock by the selling stockholders. See “Use of Proceeds.”	
 	 	 	
Risk factors	 	See “Risk Factors” included elsewhere in this prospectus for a discussion of factors you should carefully consider before deciding to invest in our common stock.	

(1)                                 As of March 1, 2020.
 
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RISK FACTORS
 
You should consider carefully all of the information set forth in this prospectus and the documents incorporated by reference herein, unless expressly provided otherwise, and, in particular, the risk factors described in “Risk Factors” contained in our Annual Report on Form 20-F for the year ended December 31, 2019, incorporated herein by reference, or the corresponding section in any Annual Report on Form 20-F, and contained in any other reports or in a prospectus supplement to this prospectus, we subsequently file with the SEC, before investing in any securities that may be offered. The risks described in any prospectus supplement and any document incorporated by reference are not the only ones we face, but are those we currently consider to be material. There may be other unknown or unpredictable economic, business, competitive, regulatory or other factors that could have material adverse effects on our future results. If that occurs, the price of our common stock could decline materially and you could lose all or part of your investment. Past financial performance may not be a reliable indicator of future performance and historical trends should not be used to anticipate results or trends in future periods.
 
USE OF PROCEEDS
 
The selling stockholders will receive all of the proceeds from any sales of our common stock offered by this prospectus. We will not receive any of the proceeds from the sale of our common stock offered hereby.
 
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CAPITALIZATION
 
Our capitalization as of December 31, 2019 is set forth in our Annual Report on Form 20-F for the year ended December 31, 2019, filed with the SEC on February 27, 2020, which is incorporated by reference herein. Such capitalization will be updated and superseded by information set forth in a prospectus supplement to this prospectus or in a report on Form 6-K or an Annual Report on Form 20-F subsequently incorporated herein by reference.
 
SELLING STOCKHOLDERS
 
The following table sets forth certain information regarding the beneficial ownership of our common stock as of March 1, 2020, by the selling stockholders.
 
The term “selling stockholder” also includes any transferees, pledgees, donees, or other successors in interest to any of the selling stockholders named in the table below. The information concerning the selling stockholders may change from time to time, and any changes and the names of any transferees, pledgees, donees, and other successors in interest will be set forth in supplements to this prospectus to the extent required.
 
Information with respect to beneficial ownership has been furnished by each selling stockholder. Beneficial ownership is determined in accordance with Rule 13d-3 of the Exchange Act. Except as indicated by footnote, to our knowledge, the persons named in the table below have sole voting and investment power with respect to all common stock shown as beneficially owned by them.
 
The shares of common stock that may be resold under this prospectus by the selling stockholders were purchased by the selling stockholders, which are entities affiliated with directors and officers of the Company and officers the Company, from us in our underwritten public offering in November 2019 and in secondary market transactions.
 
The number of shares and percentage of ownership indicated in the following table is calculated using 24,789,312 shares of our common stock outstanding on March 1, 2020.
 
The following table sets forth information with respect to the selling stockholders and common stock beneficially owned by the selling stockholders that may be offered from time to time pursuant to this prospectus. The selling stockholders may offer all, some or none of their common stock. See “Plan of Distribution.”

 	 	 	 	Maximum	 	 	 	 	 	
 	 	 	 	Number of	 	Percentage of	 	
 	 	 	 	Shares of	 	Common Stock	 	
 	 	Number of	 	Common Stock	 	Beneficially Owned	 	
 	 	Shares of	 	That May	 	 	 	If Maximum	 	
 	 	Common Stock	 	Be Offered	 	 	 	Number of	 	
 	 	Beneficially	 	By This	 	Before	 	Shares Offered	 	
 	 	Owned	 	Prospectus	 	Offering	 	are Sold	 	
Selling Stockholders	 	 	 	 	 	 	 	 	 	
Danaos Investment Limited as Trustee of the 883 Trust(1)	 	7,736,535	 	2,891,666	 	31.2	%	19.5	%	
Sphinx Investment Corp.(2)	 	2,679,400	 	1,860,000	 	10.8	%	3.3	%	
Iraklis Prokopakis	 	247,637	 	98,250	 	1.0	%	*	 	
Total	 	10,663,572	 	4,849,916	 	43.0	%	23.5	%	

*        Less than 1% of our outstanding common stock.
 
(1)               According to a Schedule 13D/A jointly filed with the SEC on December 2, 2019 by Danaos Investment Limited (“DIL”) as Trustee of the 883 Trust, which is our largest stockholder and John Coustas, DIL owns and has sole voting power and sole dispositive power with respect to all such shares. The beneficiaries of the 883 Trust are Dr. Coustas and members of his family. The board of directors of DIL consists of four members,
 
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none of whom are beneficiaries of the 883 Trust or members of the Coustas family, and has voting and dispositive control over the shares held by the 883 Trust. Dr. Coustas has certain powers to remove and replace DIL as trustee of the 883 Trust. This does not necessarily imply economic ownership of the securities.
 
(2)               According to a Schedule 13D/A filed with the SEC on November 26, 2019, Sphinx Investment Corp. (“Sphinx”) is a wholly-owned subsidiary of Maryport Navigation Corp., a Liberian company. Mr. George Economou, a member of our Board of Directors, may be deemed the beneficial owner of the shares held by Sphinx. The address of Sphinx is c/o Mare Services Limited, 5/1 Merchants Street, Valletta, Malta. Pursuant to a Security Agreement dated January 9, 2017 (the “Pledge Agreement”), between Sphinx and Samsung Heavy Industries Co. Ltd (the “Secured Party”), Sphinx pledged and granted a security interest in 857,142 of these shares in favor of the Secured Party. The Pledge Agreement contains default and similar provisions that are standard for such agreements. Sphinx has retained dividend and voting rights in the pledged shares during the term of the Pledge Agreement, absent a default.
 
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PLAN OF DISTRIBUTION
 
The selling stockholders may sell some or all of the securities covered by this prospectus from time to time on any stock exchange or automated interdealer quotation system on which our common stock are listed, in the over-the-counter market, in privately negotiated transactions or otherwise, at fixed prices that may be changed, at market prices prevailing at the time of sale, at prices related to prevailing market prices or at prices otherwise negotiated. Registration of the securities covered by this prospectus does not mean, however, that those securities necessarily will be offered or sold. The selling stockholders may sell the securities by one or more of the following methods, without limitation:
 
·                  block trades in which the broker or dealer so engaged will attempt to sell the securities as agent but may position and resell a portion of the block as principal to facilitate the transaction;
 
·                  purchases by a broker or dealer as principal and resale by the broker or dealer for its own account pursuant to this prospectus;
 
·                  an exchange distribution in accordance with the rules of any stock exchange on which our shares of common stock are listed;
 
·                  ordinary brokerage transactions and transactions in which the broker solicits purchases;
 
·                  privately negotiated transactions;
 
·                  short sales, either directly or with a broker-dealer or affiliate thereof;
 
·                  through the writing of options on the common stock, whether or not the options are listed on an options exchange;
 
·                  through loans or pledges of the common stock to a broker-dealer or an affiliate thereof;
 
·                  by entering into transactions with third parties who may (or may cause others to) issue securities convertible or exchangeable into, or the return of which is derived in whole or in part from the value of, our common stock;
 
·                  through the distribution by any selling stockholder to its partners, members or stockholders;
 
·                  one or more underwritten offerings on a firm commitment or best efforts basis; and
 
·                  any combination of any of these methods of sale.
 
For example, the selling stockholders may engage brokers and dealers, and any brokers or dealers may arrange for other brokers or dealers to participate in effecting sales of our common stock. These brokers, dealers or underwriters may act as principals, or as an agent of a selling stockholder. Broker-dealers may agree with a selling stockholder to sell a specified amount of our common stock at a stipulated price per share. If the broker-dealer is unable to sell the common stock acting as agent for a selling stockholder, it may purchase as principal any unsold securities at the stipulated price. Broker-dealers who acquire common stock as principals may thereafter resell the common stock from time to time in transactions on any stock exchange or automated interdealer quotation system on which the common stock are then listed, at prices and on terms then prevailing at the time of sale, at prices related to the then-current market price or in negotiated transactions. Broker-dealers may use block transactions and sales to and through broker-dealers, including transactions of the nature described above.
 
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In compliance with the guidelines of the Financial Industry Regulatory Authority, Inc., the maximum compensation to be paid to underwriters participating in any offering made pursuant to this prospectus will not exceed 8% of the gross proceeds from that offering.
 
In connection with the sale of the common stock or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions they assume. The selling stockholders may also short sell common stock and deliver these securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).
 
The selling stockholders may also sell common stock pursuant to Rule 144 under the Securities Act.
 
We do not know of any arrangements by the selling stockholders for the sale of our common stock.
 
To the extent required under the Securities Act, the aggregate amount of selling stockholders’ common stock being offered and the terms of the offering, the names of any agents, brokers, dealers or underwriters and any applicable commission with respect to a particular offer will be set forth in an accompanying prospectus supplement. Any underwriters, dealers, brokers or agents participating in the distribution of the common stock may receive compensation in the form of underwriting discounts, concessions, commissions or fees from a selling stockholder and/or purchasers of selling stockholders’ common stock for whom they may act (which compensation as to a particular broker-dealer might be in excess of customary commissions).
 
The selling stockholders and any underwriters, brokers, dealers or agents that participate in the distribution of the common stock may be deemed to be “underwriters” within the meaning of the Securities Act, and any discounts, concessions, commissions or fees received by them and any profit on the resale of the common stock sold by them may be deemed to be underwriting discounts and commissions.
 
The selling stockholders and other persons participating in the sale or distribution of the common stock will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M. This regulation may limit the timing of purchases and sales of any of the common stock by the selling stockholders and any other person. The anti-manipulation rules under the Exchange Act may apply to sales of common stock in the market and to the activities of the selling stockholders and their affiliates. Furthermore, Regulation M may restrict the ability of any person engaged in the distribution of the common stock to engage in market-making activities with respect to the particular common stock being distributed for a period of up to five business days before the distribution. These restrictions may affect the marketability of the common stock and the ability of any person or entity to engage in market-making activities with respect to the common stock.
 
To the extent permitted by applicable law, this plan of distribution may be modified in a prospectus supplement or otherwise.
 
We agreed to register the common stock under the Securities Act and to keep the registration statement of which this prospectus is a part effective for a specified period of time. We have also agreed to indemnify the selling stockholders against certain liabilities, including liabilities under the Securities Act. The selling stockholders have agreed to indemnify us in certain circumstances against certain liabilities, including liabilities under the Securities Act.
 
We will not receive any proceeds from sales of any common stock by the selling stockholders.
 
We cannot assure you that the selling stockholders will sell all or any portion of the common stock offered hereby. All of the foregoing may affect the marketability of the securities offered hereby.
 
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TAXATION
 
You should carefully read the discussion of the principal United States federal income tax, Marshall Islands and Liberian tax considerations associated with our operations and the acquisition, ownership and disposition of our common stock set forth in the section of our Annual Report on Form 20-F entitled “Item 10. Additional Information—Tax Considerations.”
 
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EXPENSES
 
The following table sets forth the costs and expenses payable by us in connection with registering the common stock that may be sold by selling stockholders under this prospectus. All amounts listed below are estimates except the SEC registration fee.

Itemized expense	 	Amount	 	
SEC registration fee	 	$	2,316.64	 	
Legal fees and expenses	 	$	10,000	 	
Accounting fees and expenses	 	$	10,000	 	
Transfer agent and registrar fees	 	$	5,000	 	
Miscellaneous	 	$	2,683.36	 	
Total	 	$	30,000	 	
 
EXPERTS
 
The consolidated financial statements and management’s assessment of the effectiveness of internal control over financial reporting (which is included in Management’s Report on Internal Control over Financial Reporting) incorporated in this Prospectus by reference to the Annual Report on Form 20-F for the year ended December 31, 2019 have been so incorporated in reliance on the report of PricewaterhouseCoopers S.A., an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.
 
LEGAL MATTERS
 
The validity of the common stock offered hereby and certain other legal matters relating to Marshall Islands law will be passed upon for us by Reeder & Simpson P.C.
 
SERVICE OF PROCESS AND ENFORCEMENT OF CIVIL LIABILITIES
 
We are a Marshall Islands corporation and our executive offices are located outside of the United States. A majority of our directors and officers and some of the experts in this prospectus reside outside the United States. In addition, a substantial portion of our assets and the assets of our directors, officers and experts are located outside of the United States. As a result, you may have difficulty serving legal process within the United States upon us or any of these persons. You may also have difficulty enforcing, both in and outside of the United States, judgments you may obtain in United States courts against us or these persons in any action, including actions based upon the civil liability provisions of United States federal or state securities laws. Furthermore, there is substantial doubt that the courts of the Marshall Islands would enter judgments in original actions brought in those courts predicated on United States federal or state securities laws.
 
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Danaos Corporation
 
P R O S P E C T U S
 
   , 2020

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Part II
 
INFORMATION NOT REQUIRED IN PROSPECTUS
 
Item 8.                     Indemnification of Directors and Officers
 
The Registrant is a Marshall Islands corporation. Section 60 of the Business Corporations Act of the Republic of the Marshall Islands (the “BCA”) provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe his conduct was unlawful.
 
A Marshall Islands corporation also has the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys’ fees) actually and reasonably incurred by him or in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.
 
To the extent that a director or officer of a Marshall Islands corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in the preceding paragraph, or in the defense of a claim, issue or matter therein, he shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by him in connection therewith. Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation as authorized under Section 60 of the BCA.
 
Section 60 of the BCA also permits a Marshall Islands corporation to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is or was serving at the request of the corporation as a director or officer against any liability asserted against him and incurred by him in such capacity whether or not the corporation would have the power to indemnify him against such liability under the provisions of Section 60 of the BCA. In this regard, the Registrant has entered into employment agreements with its chief executive officer, chief operating officer and chief financial officer which provide that the Registrant will maintain directors’ and officers’ liability insurance policies during the term of such executive’s employment and for five years thereafter at a level, and on terms and conditions, no less favorable than the coverage the Registrant provides other similarly-situated executives so long as such coverage is available from the carrier and does not increase the cost of such policy by more than 10% per annum.
 
The indemnification and advancement of expenses provided by, or granted pursuant to, Section 60 of the BCA are not exclusive of any other rights to which those seeking indemnification and advancement of expenses may

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be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity while holding such office. In this regard, the Registrant’s Amended and Restated Bylaws (“Bylaws”) provide that such expenses (including attorneys’ fees) incurred by former directors and officers may be so paid upon such terms and conditions, if any, as the Registrant deems appropriate, and the board of directors may authorize the Registrant’s legal counsel to represent a present or former director or officer in any action, suit or proceeding, whether or not the Registrant is a party to such action, suit or proceeding. The Registrant’s Bylaws further provide for indemnification of directors and officers on the basis described above as being permitted by Section 60 of the BCA and provide, to the extent authorized from time to time by the board of directors of the Registrant, rights to indemnification and to the advancement of expenses to employees and agents of the corporation similar to those conferred to directors and officers of Registrant.
 
The Restated Articles of Incorporation of the Registrant, as amended, provide that no director shall have personal liability to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, but the liability of a director is not limited or eliminated (i) for any breach of the director’s duty of loyalty to the Registrant or its stockholders; (ii) for acts or omissions not undertaken in good faith or which involve intentional misconduct or a knowing violation of law; or (iii) for any transaction from which the director derived an improper personal benefit.
 
Item 9.                     Exhibits
 
The following exhibits are filed as part of this Registration Statement:

Exhibit
Number	 	Description	
4.1	 	Restated Articles of Incorporation of Danaos Corporation, as amended by Articles of Amendment dated August 10, 2018 and Articles of Amendment dated May 1, 2019 (incorporated by reference to Exhibit 1.1 to the Company’s Annual Report on Form 20-F filed with the SEC on February 27, 2020)	
 	 	 	
4.2	 	Amended and Restated Bylaws of Danaos Corporation (incorporated by reference to Exhibit 99.3 to the Company’s Report on Form 6-K filed with the SEC on September 23, 2009)	
 	 	 	
4.3	 	Stock Certificate (incorporated by reference to Exhibit 4.2 to the Company’s Form 6-K filed on May 3, 2019)	
 	 	 	
5.1	 	Opinion of Reeder & Simpson P.C. regarding the validity of the common stock	
 	 	 	
23.1	 	Consent of PricewaterhouseCoopers S.A., an independent registered public accounting firm	
 	 	 	
23.2	 	Consent of Reeder & Simpson P.C. (included in Exhibit 5.1)	
 	 	 	
24.1	 	Powers of Attorney (included in the signature pages to this Registration Statement)	
 
Item 10.              Undertakings
 
The undersigned registrant hereby undertakes:
 
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
 
i.                  to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933, as amended;
 
ii.               to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total

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dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) of the Securities Act of 1933, as amended, if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and
 
iii.            to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
 
provided, however, that paragraphs (i), (ii) and (iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of this registration statement.
 
That, for the purpose of determining any liability under the Securities Act of 1933, as amended, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
 
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
 
To file a post-effective amendment to the registration statement to include any financial statements required by Item 8. A of Form 20-F at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required by Section 10(a)(3) of the Securities Act of 1933, as amended, need not be furnished, provided that the registrant includes in the prospectus, by means of a post-effective amendment, financial statements required pursuant to this paragraph and other information necessary to ensure that all other information in the prospectus is at least as current as the date of those financial statements. Notwithstanding the foregoing, with respect to registration statements on Form F-3, a post-effective amendment need not be filed to include financial statements and information required by Section 10(a)(3) of the Securities Act of 1933, as amended, or Item 8.A of Form 20-F if such financial statements and information are contained in periodic reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, that are incorporated by reference in the Form F-3.
 
That, for the purpose of determining liability under the Securities Act of 1933, as amended, to any purchaser:
 
A.            Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and
 
B.            Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430 B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933, as amended, shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430 B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such

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effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.
 
That, for purposes of determining any liability under the Securities Act of 1933, as amended, each filing of the registrant’s annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934, as amended), that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
 
Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933, as amended, and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933, as amended, and will be governed by the final adjudication of such issue.

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SIGNATURES
 
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Athens, Greece on this 19th day of March, 2020.

 	DANAOS CORPORATION	

 	By:	/s/ Evangelos Chatzis	
 	 	Evangelos Chatzis	
 	 	Chief Financial Officer	
 
POWERS OF ATTORNEY
 
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby appoints John Coustas, Iraklis Prokopakis and Evangelos Chatzis, and each of them severally, acting alone and without the other, his true and lawful attorney-in-fact with full power of substitution or re-substitution, for such person and in such person’s name, place and stead, in any and all capacities, to sign on such person’s behalf, individually and in each capacity stated below, any and all amendments, including post-effective amendments to this Registration Statement, and to sign any and all additional registration statements relating to the same offering of securities of the Registration Statement that are filed pursuant to Rule 462 of the Securities Act of 1933, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
 
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

Signature and Name	 	Title	 	Date	
 	 	 	 	 	
/s/ John Coustas	 	Chairman, President and Chief Executive Officer (principal executive officer)	 	March 19, 2020	
John Coustas	 		 	 	
 	 	 	 	 	
/s/ Iraklis Prokopakis	 	Chief Operating Officer and Director	 	March 19, 2020	
Iraklis Prokopakis	 	 	 	 	
 	 	 	 	 	
/s/ Evangelos Chatzis	 	Chief Financial Officer (principal financial officer and principal accounting officer)	 	March 19, 2020	
Evangelos Chatzis	 		 	 	
 	 	 	 	 	
/s/ Petros Christodoulou	 	Director	 	March 19, 2020	
Petros Christodoulou	 	 	 	 	
 	 	 	 	 	
/s/ George Economou	 	Director	 	March 19, 2020	
George Economou	 	 	 	 	
 	 	 	 	 	
/s/ Myles R. Itkin	 	Director	 	March 19, 2020	
Myles R. Itkin	 	 	 	 	
 	 	 	 	 	
/s/ Miklós Konkoly-Thege	 	Director	 	March 19, 2020	
Miklós Konkoly-Thege	 	 	 	 	
 	 	 	 	 	
/s/ William Repko	 	Director	 	March 19, 2020	
William Repko	 	 	 	 	

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Authorized Representative in the United States
 
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant’s duly authorized representative has signed this registration statement on Form F-3 in Newark, Delaware on this 19th day of March, 2020.

 	PUGLISI & ASSOCIATES	
 	 	
 	By:	/s/ Donald J. Puglisi	
 	Name:	Donald J. Puglisi	
 	Title:	Managing Director	

Exhibit 5.1
 
REEDER & SIMPSON, P.C.
ATTORNEYS AT LAW

P.O. Box 601	 	RMI Tel.: +692-625-3602	
RRE Commercial Center	 	Honolulu Tel.: +808-352-0749	
Majuro, MH 96960 - Marshall Islands	 	Email: dreeder.rmi@gmail.com	
 
Danaos Corporation
14 Akti Kondyli
185 45 Piraeus
Greece
 
March 19, 2020
 
Re: Danaos Corporation (the “Corporation”)
 
Ladies and Gentlemen:
 
We have acted as Republic of the Marshall Islands (the “RMI”), counsel to Danaos Corporation, a RMI non-resident domestic corporation (the “Corporation”), in connection with the offer and sale of up to 4,849,916 common shares, par value US$0.01 (the “Securities”) that may be sold by or on behalf of certain selling stockholders of the Corporation or their donees, pledgees, transferees or other successors in interest, pursuant to a Registration Statement filed by the Corporation on Form F-3 with the Securities and Exchange Commission, pursuant to the Securities Act of 1933, as amended, through the date hereof (the “Registration Statement”), and the prospectus (the “Prospectus”), of the Corporation included in the Registration Statement.
 
In connection with this opinion, we have examined such documents as may be required to issue this opinion, including the Corporation’s constitutional documents, and the Registration Statement and the exhibits thereto.
 
In our examination, we have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified, photostatic or facsimile copies and the authenticity of the originals of such copies.
 
Based upon the foregoing, we are of the opinion that the Securities are validly issued, fully paid and non-assessable.
 
Our opinion is limited to the Business Corporations Act of the Republic of the Marshall Islands, and we express no opinion with respect to the laws of any other jurisdiction.
 
We have relied as to certain matters on information obtained from public officials, officers of the Corporation, and other sources believed by us to be responsible.
 
Please note that we are opining only as to the matters expressly set forth herein, and no opinion should be inferred as to any other matters. This opinion is based upon currently existing statutes, rules, regulations and judicial decisions, and we disclaim any obligation to advise you of any change in any of these sources of law or subsequent legal or factual developments which might affect any matters or opinions set forth herein.

 
We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement, and to the reference to this firm under the caption “Legal Matters” in the Prospectus. In giving this consent, we do not admit that we are acting within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.
 
Sincerely,

/s/ Dennis J. Reeder	 	
Dennis J. Reeder	 	
Reeder & Simpson, P.C.	 	

Exhibit 23.1
 
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
We hereby consent to the incorporation by reference in this Registration Statement on Form F-3 of Danaos Corporation of our report dated February 27, 2020 relating to the financial statements and the effectiveness of internal control over financial reporting, which appears in Danaos Corporation’s Annual Report on Form 20-F for the year ended December 31, 2019.  We also consent to the reference to us under the heading “Experts” in such Registration Statement and to the reference to us under the heading “Selected Consolidated Financial Data” in Danaos Corporation’s Annual Report on Form 20-F for the year ended December 31, 2019 which is incorporated by reference in such Registration Statement.
 
/s/ PricewaterhouseCoopers S.A.
 
Athens, Greece
March 19, 2020