DANAOS CORP, 6-K filed on 8/4/2026
Report of Foreign Issuer
v3.26.1
Document and Entity Information
 6 Months Ended
Jun. 30, 2026
Document and Entity Information  
Document Type 6-K
Document Period End Date Jun. 30, 2026
Entity Registrant Name Danaos Corp
Entity Central Index Key 0001369241
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2026
Document Fiscal Period Focus Q2
Amendment Flag false
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 1,008,268 $ 1,037,292
Accounts receivable, net 32,346 38,730
Inventories 22,572 23,417
Prepaid expenses 4,615 2,093
Due from related parties $ 59,031 $ 46,750
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Investments $ 223,176 $ 120,244
Other current assets 40,184 50,893
Total current assets 1,390,192 1,319,419
NON-CURRENT ASSETS    
Fixed assets at cost, net of accumulated depreciation of $1,704,983 (2025: $1,622,344) 3,214,185 3,269,703
Advances for vessels under construction and vessel acquisition 729,187 428,147
Deferred charges, net 54,469 54,356
Investments 12,388
Other non-current assets 47,213 42,305
Total non-current assets 4,057,442 3,794,511
Total assets 5,447,634 5,113,930
CURRENT LIABILITIES    
Accounts payable 25,134 17,274
Accrued liabilities 33,958 28,772
Current portion of long-term debt, net 26,629 283,015
Unearned revenue 30,351 36,625
Other current liabilities 33,414 35,990
Total current liabilities 149,486 401,676
LONG-TERM LIABILITIES    
Long-term debt, net 1,184,091 872,076
Unearned revenue, net of current portion 2,618
Other long-term liabilities 57,248 41,983
Total long-term liabilities 1,241,339 916,677
Total liabilities 1,390,825 1,318,353
Commitments and Contingencies
STOCKHOLDERS' EQUITY    
Preferred stock (par value $0.01, 100,000,000 preferred shares authorized and not issued as of June 30, 2026 and December 31, 2025)
Common stock par value $0.01, 750,000,000 common shares authorized as of June 30, 2026 and December 31, 2025. 25,790,282 and 25,790,190 shares issued; and 18,203,567 and 18,264,294 shares outstanding as of June 30, 2026 and December 31, 2025, respectively 182 183
Additional paid-in capital 590,457 591,584
Accumulated other comprehensive loss (68,522) (71,412)
Retained earnings 3,534,692 3,275,222
Total stockholders' equity 4,056,809 3,795,577
Total liabilities and stockholders' equity $ 5,447,634 $ 5,113,930
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CONDENSED CONSOLIDATED BALANCE SHEETS    
Accumulated depreciation $ 1,704,983 $ 1,622,344
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized 100,000,000 100,000,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized 750,000,000 750,000,000
Common stock, shares issued 25,790,282 25,790,190
Common stock, shares outstanding 18,203,567 18,264,294
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF INCOME        
OPERATING REVENUES $ 274,370 $ 262,154 $ 528,068 $ 515,461
OPERATING EXPENSES        
Voyage expenses (17,828) (16,810) (28,549) (34,945)
Vessel operating expenses (56,688) (56,385) (106,672) (108,087)
Depreciation (41,777) (40,698) (82,639) (80,726)
Amortization of deferred drydocking and special survey costs (10,485) (11,515) (22,782) (22,485)
General and administrative expenses (14,865) (11,206) (29,502) (23,428)
Operating income 132,727 125,540 257,924 245,790
OTHER INCOME/(EXPENSES):        
Interest income 7,401 3,661 14,958 7,266
Interest expense and finance costs (8,127) (9,711) (19,986) (19,714)
Gain on investments 20,897 14,734 44,357 17,217
Dividend income 3,128 313 5,443 679
Loss on debt extinguishment (1,405) 0 (6,027) 0
Loss on equity investments (534) (333) (811) (565)
Other finance expenses (947) (973) (1,815) (1,960)
Other (expenses)/income, net (422) (1,424) (11) (866)
Realized loss on derivatives (903) (903) (1,796) (1,796)
Total Other Income/(Expenses), net 19,088 5,364 34,312 261
Income before income taxes 151,815 130,904 292,236 246,051
Net Income $ 151,815 $ 130,904 $ 292,236 $ 246,051
EARNINGS PER SHARE        
Basic earnings per share of common stock (in $ per share) $ 8.34 $ 7.14 $ 16.05 $ 13.27
Diluted earnings per share of common stock (in $ per share) $ 8.32 $ 7.12 $ 16.02 $ 13.24
Basic weighted average number of common shares (in shares) 18,204 18,344 18,207 18,546
Diluted weighted average number of common shares (in shares) 18,256 18,396 18,245 18,588
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME        
Net Income for the period $ 151,815 $ 130,904 $ 292,236 $ 246,051
Other comprehensive income:        
Prior service cost of defined benefit plan 547 291 1,094 581
Amortization of deferred realized losses on cash flow hedges 903 903 1,796 1,796
Total Other Comprehensive Income 1,450 1,194 2,890 2,377
Comprehensive Income $ 153,265 $ 132,098 $ 295,126 $ 248,428
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings
Total
Balance at Dec. 31, 2024 $ 190 $ 650,864 $ (70,430) $ 2,844,176 $ 3,424,800
Balance (in shares) at Dec. 31, 2024 18,988        
Increase (Decrease) in Stockholders' Equity          
Net Income       115,147 115,147
Dividends       (15,894) (15,894)
Repurchase of common stock $ (4) (33,212)     (33,216)
Repurchase of common stock (in shares) (414)        
Stock based compensation   1,705     1,705
Issuance of common stock   4     4
Net movement in other comprehensive loss     1,183   1,183
Balance at Mar. 31, 2025 $ 186 619,361 (69,247) 2,943,429 3,493,729
Balance (in shares) at Mar. 31, 2025 18,574        
Balance at Dec. 31, 2024 $ 190 650,864 (70,430) 2,844,176 3,424,800
Balance (in shares) at Dec. 31, 2024 18,988        
Increase (Decrease) in Stockholders' Equity          
Net Income         246,051
Net movement in other comprehensive loss         2,377
Balance at Jun. 30, 2025 $ 183 601,653 (68,053) 3,058,770 3,592,553
Balance (in shares) at Jun. 30, 2025 18,310        
Balance at Mar. 31, 2025 $ 186 619,361 (69,247) 2,943,429 3,493,729
Balance (in shares) at Mar. 31, 2025 18,574        
Increase (Decrease) in Stockholders' Equity          
Net Income       130,904 130,904
Dividends       (15,563) (15,563)
Repurchase of common stock $ (3) (19,434)     (19,437)
Repurchase of common stock (in shares) (264)        
Stock based compensation   1,723     1,723
Issuance of common stock   3     3
Net movement in other comprehensive loss     1,194   1,194
Balance at Jun. 30, 2025 $ 183 601,653 (68,053) 3,058,770 3,592,553
Balance (in shares) at Jun. 30, 2025 18,310        
Balance at Dec. 31, 2025 $ 183 591,584 (71,412) 3,275,222 $ 3,795,577
Balance (in shares) at Dec. 31, 2025 18,264       18,264,294
Increase (Decrease) in Stockholders' Equity          
Net Income       140,421 $ 140,421
Dividends       (16,383) (16,383)
Repurchase of common stock $ (1) (5,944)     (5,945)
Repurchase of common stock (in shares) (61)        
Stock based compensation   2,390     2,390
Issuance of common stock   5     5
Net movement in other comprehensive loss     1,440   1,440
Balance at Mar. 31, 2026 $ 182 588,035 (69,972) 3,399,260 3,917,505
Balance (in shares) at Mar. 31, 2026 18,203        
Balance at Dec. 31, 2025 $ 183 591,584 (71,412) 3,275,222 $ 3,795,577
Balance (in shares) at Dec. 31, 2025 18,264       18,264,294
Increase (Decrease) in Stockholders' Equity          
Net Income         $ 292,236
Net movement in other comprehensive loss         2,890
Balance at Jun. 30, 2026 $ 182 590,457 (68,522) 3,534,692 $ 4,056,809
Balance (in shares) at Jun. 30, 2026 18,203       18,203,567
Balance at Mar. 31, 2026 $ 182 588,035 (69,972) 3,399,260 $ 3,917,505
Balance (in shares) at Mar. 31, 2026 18,203        
Increase (Decrease) in Stockholders' Equity          
Net Income       151,815 151,815
Dividends       (16,383) (16,383)
Stock based compensation   2,417     2,417
Issuance of common stock   5     5
Net movement in other comprehensive loss     1,450   1,450
Balance at Jun. 30, 2026 $ 182 $ 590,457 $ (68,522) $ 3,534,692 $ 4,056,809
Balance (in shares) at Jun. 30, 2026 18,203       18,203,567
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY        
Dividends (in US$ per share) $ 0.9 $ 0.9 $ 0.85 $ 0.85
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities          
Net income     $ 292,236 $ 246,051  
Adjustments to reconcile net income to net cash provided by operating activities          
Depreciation     82,639 80,726  
Amortization & write offs of deferred drydocking and special survey costs $ 10,485 $ 11,515 22,782 22,485  
Amortization of finance costs     1,527 1,545  
Debt discount amortization     238    
Prior service cost and periodic cost     1,346 2,807  
Gain on investments     (44,357) (17,217)  
Loss on equity investments 534 333 811 565  
Loss on debt extinguishment 1,405 0 6,027 0  
Payments for drydocking and special survey costs deferred     (22,895) (27,805)  
Stock based compensation     4,807 3,428  
Amortization of deferred realized losses on interest rate swaps     1,796 1,796  
(Increase)/Decrease in:          
Accounts receivable     4,506 (2,586)  
Inventories     845 2,260  
Prepaid expenses     (2,522) (3,037)  
Due from related parties     (12,281) 3,470  
Other assets, current and non-current     23,106 8,832  
Increase/(Decrease) in:          
Accounts payable     7,860 (5,444)  
Accrued liabilities     5,077 (259)  
Unearned revenue, current and long-term     (8,892) (19,890)  
Other liabilities, current and long-term     2,840 (1,088)  
Net cash provided by operating activities     367,496 296,639  
Cash flows from investing activities          
Vessels additions and advances for vessels under construction and vessel acquisition     (329,278) (107,021)  
Insurance proceeds from disposal of vessel       1,681  
Investments     (71,492) (30,270)  
Net cash used in investing activities     (400,770) (135,610)  
Cash flows from financing activities          
Proceeds from long-term debt, net     658,000 44,000  
Payments and prepayments of long-term debt     (603,057) (18,220)  
Dividends paid     (32,756) (31,449)  
Finance costs     (11,114) (9,368)  
Repurchase of common stock     (6,823) (53,212)  
Net cash provided by/(used in) financing activities     4,250 (68,249)  
Net (decrease)/increase in cash and cash equivalents     (29,024) 92,780  
Cash and cash equivalents, beginning of period     1,037,292 453,384 $ 453,384
Cash and cash equivalents, end of period $ 1,008,268 $ 546,164 1,008,268 546,164 $ 1,037,292
Supplemental cash flow information          
Cash paid for interest, net of amounts capitalized     $ 21,028 $ 18,921  
v3.26.1
Basis of Presentation and General Information
 6 Months Ended
Jun. 30, 2026
Basis of Presentation and General Information  
Basis of Presentation and General Information

1.

Basis of Presentation and General Information

​

The accompanying condensed consolidated financial statements (unaudited) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The reporting and functional currency of Danaos Corporation and its subsidiaries (“Danaos” or the “Company”) is the United States Dollar (“USD”).

​

Danaos Corporation, formerly Danaos Holdings Limited, was formed on December 7, 1998 under the laws of Liberia and is presently the sole owner of all outstanding shares of the companies listed below. Danaos Holdings Limited was redomiciled in the Marshall Islands on October 7, 2005. In connection with the re-domiciliation, the Company changed its name to Danaos Corporation. On October 14, 2005, the Company filed and the Marshall Islands accepted Amended and Restated Articles of Incorporation. The authorized capital stock of Danaos Corporation is 750,000,000 shares of common stock with a par value of $0.01 and 100,000,000 shares of preferred stock with a par value of $0.01. Refer to Note 12, “Stockholders’ Equity”. The Company’s principal business is the acquisition and operation of vessels. Danaos conducts its operations through the vessel owning companies whose principal activity is the ownership and operation of container vessels and drybulk vessels that are under the exclusive management of a related party of the Company.

​

In the opinion of management, the accompanying condensed consolidated financial statements (unaudited) of Danaos and subsidiaries contain all adjustments necessary to state fairly, in all material respects, the Company’s condensed consolidated financial position as of June 30, 2026, the condensed consolidated results of operations for the three and six months ended June 30, 2026 and 2025 and the condensed consolidated cash flows for the six months ended June 30, 2026 and 2025. All such adjustments are deemed to be of a normal, recurring nature. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in Danaos’ Annual Report on Form 20-F for the year ended December 31, 2025. The results of operations for the three and six months ended June 30, 2026, are not necessarily indicative of the results to be expected for the full year. The year-end condensed consolidated balance sheet data was derived from annual financial statements as of December 31, 2025. These condensed consolidated financial statements do not include all disclosures required by accounting principles generally accepted in the United States of America.

​

The condensed consolidated financial statements (unaudited) have been prepared to reflect the consolidation of the companies listed below. The historical balance sheets and results of operations of the companies listed below have been reflected in the condensed consolidated balance sheets and condensed consolidated statements of income, comprehensive income, cash flows and stockholders’ equity at and for each period since their respective incorporation dates.

Reclassification of Comparative Figures: Investments in equity securities, previously presented within “Other Current and non-current assets”, have been reclassified and presented as separate line items in the statement of financial position. Comparative figures have been reclassified accordingly to conform with the current year presentation. Reclassifications had no effect on current and non - current assets, total equity, profit or loss, or cash flows for any period presented.

​

1.

Basis of Presentation and General Information (Continued)

As of June 30, 2026, Danaos owned 75 container vessels on the water, 29 container vessels under construction, 11 Capesize drybulk carrier vessels and four Newcastlemax drybulk vessels under construction. These included the vessel-owning companies (the “Danaos Subsidiaries”) for both container and drybulk vessels, as listed below:

Operating container vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Vessel Name

  ​ ​ ​

Year Built

  ​ ​ ​

TEU (1)

Megacarrier (No. 1) Corp.

​

September 10, 2007

​

Kota Peony

​

2012

​

13,100

Megacarrier (No. 2) Corp.

​

September 10, 2007

​

Kota Primrose

​

2012

​

13,100

Megacarrier (No. 3) Corp.

​

September 10, 2007

​

Kota Plumbago

​

2012

​

13,100

Megacarrier (No. 4) Corp.

​

September 10, 2007

​

Speed

​

2012

​

13,100

Megacarrier (No. 5) Corp.

​

September 10, 2007

​

Ambition

​

2012

​

13,100

CellContainer (No. 6) Corp.

​

October 31, 2007

​

Express Berlin

​

2011

​

10,100

CellContainer (No. 7) Corp.

​

October 31, 2007

​

Express Rome

​

2011

​

10,100

CellContainer (No. 8) Corp.

​

October 31, 2007

​

Express Athens

​

2011

​

10,100

Karlita Shipping Co. Ltd.

​

February 27, 2003

​

Pusan C

​

2006

​

9,580

Ramona Marine Co. Ltd.

​

February 27, 2003

​

Le Havre

​

2006

​

9,580

Oceancarrier (No. 2) Corp.

​

October 15, 2020

​

Bremen

​

2009

​

9,012

Oceancarrier (No. 3) Corp.

​

October 15, 2020

​

C Hamburg

​

2009

​

9,012

Blackwell Seaways Inc.

​

January 9, 2020

​

Niledutch Lion

​

2008

​

8,626

Oceancarrier (No.1) Corp.

​

February 19, 2020

​

Kota Manzanillo

​

2005

​

8,533

Springer Shipping Co.

​

April 29, 2019

​

Belita

​

2006

​

8,533

Teucarrier (No. 1) Corp.

​

January 31, 2007

​

CMA CGM Attila

​

2011

​

8,530

Teucarrier (No. 2) Corp.

​

January 31, 2007

​

CMA CGM Tancredi

​

2011

​

8,530

Teucarrier (No. 3) Corp.

​

January 31, 2007

​

CMA CGM Bianca

​

2011

​

8,530

Teucarrier (No. 4) Corp.

​

January 31, 2007

​

CMA CGM Samson

​

2011

​

8,530

Teucarrier (No. 5) Corp.

​

September 17, 2007

​

CMA CGM Melisande

​

2012

​

8,530

Oceanew Shipping Ltd.

​

January 14, 2002

​

Europe

​

2004

​

8,468

Oceanprize Navigation Ltd.

​

January 21, 2003

​

America

​

2004

​

8,468

Rewarding International Shipping Inc.

​

October 1, 2019

​

Kota Santos

​

2005

​

8,463

Teushipper (No 1) Corp.

​

March 14, 2022

​

Catherine C

​

2024

​

8,010

Teushipper (No 2) Corp.

​

March 14, 2022

​

Greenland

​

2024

​

8,010

Teushipper (No 3) Corp.

​

March 14, 2022

​

Greenville

​

2024

​

8,010

Teushipper (No 4) Corp.

​

March 14, 2022

​

Greenfield

​

2024

​

8,010

Boxsail (No. 1) Corp

​

March 4, 2022

​

Interasia Accelerate

​

2024

​

7,165

Boxsail (No. 2) Corp

​

March 4, 2022

​

Interasia Amplify

​

2024

​

7,165

Boxcarrier (No. 1) Corp.

​

June 27, 2006

​

CMA CGM Moliere

​

2009

​

6,500

Boxcarrier (No. 2) Corp.

​

June 27, 2006

​

CMA CGM Musset

​

2010

​

6,500

Boxcarrier (No. 3) Corp.

​

June 27, 2006

​

CMA CGM Nerval

​

2010

​

6,500

Boxcarrier (No. 4) Corp.

​

June 27, 2006

​

CMA CGM Rabelais

​

2010

​

6,500

Boxcarrier (No. 5) Corp.

​

June 27, 2006

​

Racine

​

2010

​

6,500

Expresscarrier (No. 1) Corp.

​

March 5, 2007

​

YM Mandate

​

2010

​

6,500

Expresscarrier (No. 2) Corp.

​

March 5, 2007

​

YM Maturity

​

2010

​

6,500

Actaea Company Limited

​

October 14, 2014

​

Savannah

​

2002

​

6,402

Asteria Shipping Company Limited

​

October 14, 2014

​

Dimitra C

​

2002

​

6,402

Boxsail (No. 3) Corp.

​

March 4, 2022

​

Phoebe(2)

​

2025

​

6,014

Boxsail (No. 4) Corp.

​

March 4, 2022

​

Greenhouse(2)

​

2025

​

6,014

Averto Shipping S.A.

​

June 12, 2015

​

Suez Canal

​

2002

​

5,610

Sinoi Marine Ltd.

​

June 12, 2015

​

Kota Lima

​

2002

​

5,544

Oceancarrier (No. 4) Corp.

​

July 6, 2021

​

Wide Alpha

​

2014

​

5,466

Oceancarrier (No. 5) Corp.

​

July 6, 2021

​

Stephanie C

​

2014

​

5,466

Oceancarrier (No. 6) Corp.

​

July 6, 2021

​

Euphrates

​

2014

​

5,466

Oceancarrier (No. 7) Corp.

​

July 6, 2021

​

Wide Hotel

​

2015

​

5,466

Oceancarrier (No. 8) Corp.

​

July 6, 2021

​

Wide India

​

2015

​

5,466

Oceancarrier (No. 9) Corp.

​

July 6, 2021

​

Wide Juliet

​

2015

​

5,466

Continent Marine Inc.

​

March 22, 2006

​

Monaco

​

2009

​

4,253

Medsea Marine Inc.

​

May 8, 2006

​

Dalian

​

2009

​

4,253

Blacksea Marine Inc.

​

May 8, 2006

​

Jamaica (ex Luanda)

​

2009

​

4,253

Bayview Shipping Inc.

​

March 22, 2006

​

Rio Grande

​

2008

​

4,253

Channelview Marine Inc.

​

March 22, 2006

​

Merve A (tbr Paolo)

​

2008

​

4,253

Balticsea Marine Inc.

​

March 22, 2006

​

Kingston

​

2008

​

4,253

Seacarriers Services Inc.

​

June 28, 2005

​

Seattle C

​

2007

​

4,253

Seacarriers Lines Inc.

​

June 28, 2005

​

Vancouver

​

2007

​

4,253

Containers Services Inc.

​

May 30, 2002

​

Tongala

​

2004

​

4,253

Containers Lines Inc.

​

May 30, 2002

​

Derby D

​

2004

​

4,253

Boulevard Shiptrade S.A

​

September 12, 2013

​

Dimitris C

​

2001

​

3,430

Wellington Marine Inc.

​

January 27, 2005

​

Singapore

​

2004

​

3,314

Auckland Marine Inc.

​

January 27, 2005

​

Colombo

​

2004

​

3,314

CellContainer (No. 4) Corp.

​

March 23, 2007

​

Express Spain

​

2011

​

3,400

CellContainer (No. 5) Corp.

​

March 23, 2007

​

Express Black Sea

​

2011

​

3,400

CellContainer (No. 1) Corp.

​

March 23, 2007

​

Express Argentina

​

2010

​

3,400

CellContainer (No. 2) Corp.

​

March 23, 2007

​

Express Brazil

​

2010

​

3,400

CellContainer (No. 3) Corp.

​

March 23, 2007

​

Express France

​

2010

​

3,400

Vilos Navigation Company Ltd.

​

May 30, 2013

​

Zebra

​

2001

​

2,602

Sarond Shipping Inc.

​

January 18, 2013

​

Artotina

​

2001

​

2,524

Speedcarrier (No. 7) Corp.

​

December 6, 2007

​

Highway

​

1998

​

2,200

Speedcarrier (No. 6) Corp.

​

December 6, 2007

​

Progress C

​

1998

​

2,200

Speedcarrier (No. 8) Corp.

​

December 6, 2007

​

Bridge

​

1998

​

2,200

Speedcarrier (No. 1) Corp.

​

June 28, 2007

​

Phoenix D

​

1997

​

2,200

Speedcarrier (No. 2) Corp.

​

June 28, 2007

​

Advance

​

1997

​

2,200

Speedcarrier (No. 5) Corp.

​

June 28, 2007

​

Future

​

1997

​

2,200

Speedcarrier (No. 4) Corp.

​

June 28, 2007

​

Sprinter

​

1997

​

2,200

​

​

​

​

​

​

Total TEU

​

477,491

(1)Twenty-feet equivalent unit, the international standard measure for containers and container vessels capacity.
(2)The vessels Phoebe and Greenhouse were delivered to the Company in 2025.

1.

Basis of Presentation and General Information (Continued)

Under construction container vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expected

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Hull No.

  ​ ​ ​

Delivery (2)

  ​ ​ ​

TEU (1)

Boxline (No. 1) Corp.

​

June 7, 2023

​

YZJ2023-1556 (6)

​

Q3 2026

​

8,258

Boxline (No. 2) Corp.

​

June 7, 2023

​

YZJ2023-1557

​

Q3 2026

​

8,258

Boxline (No. 3) Corp.

​

February 2, 2024

​

YZJ2024-1612

​

Q3 2026

​

8,258

Boxsail (No. 5) Corp.

​

June 13, 2024

​

C9200-7

​

Q1 2027

​

9,200

Boxsail (No. 6) Corp.

​

June 13, 2024

​

C9200-8

​

Q2 2027

​

9,200

Boxline (No. 8) Corp

​

June 6, 2025

​

CV5900-09

​

Q2 2027

​

6,014

Boxline (No. 4) Corp.

​

February 2, 2024

​

YZJ2024-1613

​

Q2 2027

​

8,258

Boxline (No. 5) Corp.

​

March 8, 2024

​

YZJ2024-1625

​

Q2 2027

​

8,258

Conbulk Newb I Inc. (4)

​

January 14, 2026

​

NGY0041 (5)

​

Q2 2027

​

5,000

Conbulk Newb II Inc. (4)

​

January 14, 2026

​

NGY0042 (5)

​

Q3 2027

​

5,000

Boxline (No. 6) Corp.

​

March 8, 2024

​

YZJ2024-1626

​

Q3 2027

​

8,258

Boxline (No. 7) Corp.

​

May 30, 2024

​

YZJ2024-1668

​

Q3 2027

​

8,258

Boxsail (No. 10) Corp.

​

June 13, 2024

​

H2596

​

Q3 2027

​

9,200

Boxline (No. 9) Corp.

​

July 25, 2025

​

C7100-9

​

Q3 2027

​

7,165

Boxline (No. 10) Corp.

​

August 26, 2025

​

C7100-10

​

Q3 2027

​

7,165

Boxsail (No. 7) Corp.

​

June 13, 2024

​

C9200-9

​

Q4 2027

​

9,200

Boxsail (No. 11) Corp.

​

June 13, 2024

​

H2597

​

Q4 2027

​

9,200

Boxline (No. 11) Corp.

​

November 24, 2025

​

S1162

​

Q4 2027

​

1,800

Boxline (No. 12) Corp.

​

November 24, 2025

​

S1163

​

Q1 2028

​

1,800

Boxsail (No. 8) Corp.

​

June 13, 2024

​

C9200-10

​

Q2 2028

​

9,200

Boxline (No. 13) Corp.

​

November 24, 2025

​

S1164

​

Q2 2028

​

1,800

Boxsail (No. 9) Corp.

​

June 13, 2024

​

C9200-11

​

Q3 2028

​

9,200

Boxline (No. 14) Corp.

​

November 24, 2025

​

S1165

​

Q3 2028

​

1,800

Boxline (No. 15) Corp.

​

November 24, 2025

​

S1166

​

Q4 2028

​

1,800

Boxsail (No. 12) Corp.

​

December 3, 2025

​

H2638

​

Q4 2028

​

5,300

Boxline (No. 16) Corp.

​

November 24, 2025

​

S1167

​

Q1 2029

​

1,800

Boxsail (No. 13) Corp.

​

December 3, 2025

​

H2639

​

Q1 2029

​

5,300

Boxsail (No. 14) Corp.

​

December 3, 2025

​

H2640 (3)

​

Q1 2029

​

5,300

Boxsail (No. 15) Corp.

​

December 3, 2025

​

H2641 (3)

​

Q2 2029

​

5,300

​

​

​

​

​

​

Total TEU

​

184,550

(1)Twenty-feet equivalent unit, the international standard measure for containers and container vessels capacity.
(2)Under construction container vessels’ expected delivery dates were sorted based on the upcoming deliveries.
(3)Under construction containership vessels were added to our orderbook in the first quarter of 2026.
(4)The Company owns 95% of the equity interests.
(5)Under construction containership vessels were added to our orderbook in the second quarter of 2026.
(6)The vessel under construction was delivered to the Company in July 2026, and was named Santorini Express (Note 18).

​

Operating Capesize drybulk carrier vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Vessel Name

  ​ ​ ​

Year Built (2)

  ​ ​ ​

DWT (1)

Bulk No. 4 Corp.

​

July 14, 2023

​

Genius

​

2012

​

175,580

Bulk No. 2 Corp.

​

July 14, 2023

​

Achievement

​

2011

​

175,966

Bulk No. 3 Corp.

​

July 14, 2023

​

Ingenuity

​

2011

​

176,022

Bulk No. 8 Corp.

​

January 31, 2024

​

Danaos

​

2011

​

176,536

Bulk No. 10 Corp.

​

February 15, 2024

​

Valentine

​

2011

​

175,125

Bulk No. 1 Corp.

​

July 14, 2023

​

Integrity

​

2010

​

175,966

Bulk No. 5 Corp.

​

July 14, 2023

​

Peace

​

2010

​

175,858

Bulk No. 9 Corp.

​

February 2, 2024

​

Gouverneur

​

2010

​

178,043

Bulk No. 6 Corp.

​

September 15, 2023

​

W Trader

​

2009

​

175,879

Bulk No. 7 Corp.

​

September 25, 2023

​

E Trader

​

2009

​

175,886

Bulk No. 11 Corp.

​

October 6, 2025

​

John Junior (ex. Hebei No.1) (3)

​

2009

​

182,425

​

​

​

​

​

​

Total DWT

​

1,943,286

(1)DWT, dead weight tons, the international standard measure for drybulk vessels capacity.
(2)Capesize drybulk carrier vessels are sorted by their year built, from newest to oldest.
(3)The vessel was delivered to the Company in March 2026 (Note 3).

​

1.

Basis of Presentation and General Information (Continued)

Under construction Newcastlemax drybulk vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expected

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Hull No.

  ​ ​ ​

Delivery (2)

  ​ ​ ​

DWT (1)

Bulk No.12 Corp.

​

October 7, 2025

 

DJCFD010 (3)

 

Q2 2028

 

211,000

Bulk No.14 Corp.

​

February 16, 2026

 

DJCFD016 (3)

 

Q3 2028

 

211,000

Bulk No.13 Corp.

​

January 27, 2026

 

DJCFD011 (3)

 

Q4 2028

 

211,000

Bulk No.15 Corp.

​

February 16, 2026

​

DJCFD017 (3)

 

Q4 2028

 

211,000

​

​

​

​

​

​

Total DWT

​

844,000

(1)DWT, dead weight tons, the international standard measure for drybulk vessels capacity.
(2)Under construction drybulk vessels’ expected delivery dates were sorted based on the upcoming deliveries.
(3)Under construction drybulk vessels were added to our orderbook in the first quarter of 2026.
v3.26.1
Significant Accounting Policies
 6 Months Ended
Jun. 30, 2026
Significant Accounting Policies  
Significant Accounting Policies

2.

Significant Accounting Policies

​

For a detailed discussion about the Company’s significant accounting policies, see Note 2 “Significant Accounting Policies” in the Company’s consolidated financial statements included in the Annual Report on Form 20-F for the year ended December 31, 2025 filed with the Securities and Exchange Commission on February 27, 2026. During the six months ended June 30, 2026, there were no significant changes made to the Company’s significant accounting policies.
v3.26.1
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition
 6 Months Ended
Jun. 30, 2026
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition  
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition

3.

Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition

​

Fixed assets, net consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Vessel

  ​ ​ ​

Accumulated

  ​ ​ ​

Net Book

​

​

Costs

​

Depreciation

​

Value

As of January 1, 2026

​

$

4,892,047

​

$

(1,622,344)

​

$

3,269,703

Additions and vessel acquisition

​

 

25,466

​

 

—

​

 

25,466

Vessel upgrades and other vessel costs

​

​

1,655

​

​

—

​

​

1,655

Depreciation

​

 

—

​

 

(82,639)

​

 

(82,639)

As of June 30, 2026

​

$

4,919,168

​

$

(1,704,983)

​

$

3,214,185

​

Capesize drybulk carrier vessel acquisition & Deliveries of newbuilding container vessels:

​

During the six months ended June 30, 2026, the Company took delivery of the drybulk capesize vessel John Junior (ex. Hebei No.1) pursuant to a Memorandum of Agreement entered into in 2025, for a total purchase price of $25.0 million. In connection with this acquisition, the Company deposited $3.8 million into an escrow account in 2025, which, as of December 31, 2025, was recorded under “Advances for vessels under construction and vessel acquisition”. The remaining $21.2 million was paid during the six months ended June 30, 2026. The vessel was recognized under “Fixed assets at cost, net” at an aggregate cost of approximately $25.5 million, including capitalized acquisition and delivery-related expenses.

​

In 2025, the Company also took delivery of two 6,014 TEU newbuild container vessels, Phoebe and Greenhouse, both of which commenced long-term charters upon delivery. These vessels were transferred from “Advances for vessels under construction and vessel acquisition” to “Fixed assets at cost, net” at an aggregate cost of approximately $129.4 million.

​

​

3.

Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition (Continued)

​

Container vessels under construction:

​

During the six months ended June 30, 2026, the Company added two 5,000 TEU newbuilding containerships and two 5,300 TEU newbuilding containerships to its orderbook. In 2025, the Company added one 6,014 TEU, two 7,165 TEU, two 5,300 TEU and six 1,800 TEU newbuilding containerships to its orderbook. As of June 30, 2026, the Company has a total of 29 container vessels under construction, with scheduled deliveries between 2026 and 2029, as summarized below:

​

●Seven 9,200 TEU vessels, contracted between June 2024 and December 2024 of which five are expected to be delivered in 2027 and two in 2028.
●Seven 8,258 TEU vessels, contracted between June 2023 and July 2024 of which three are expected to be delivered in the third quarter of 2026 and the remaining four in 2027.
●Two 7,165 TEU vessels, contracted in September 2025 and both are expected to be delivered in the third quarter of 2027.
●One 6,014 TEU vessel, contracted in June 2025, which is expected to be delivered in 2027.
●Four 5,300 TEU vessels, contracted in December 2025 and March 2026, of which one is expected to be delivered in 2028 and three in 2029.
●Two 5,000 TEU vessels, contracted in May 2026, which are expected to be delivered in 2027.
●Six 1,800 TEU vessels, contracted in December 2025, of which one is expected to be delivered in 2027, four in 2028 and one in 2029.

​

Drybulk vessels under construction:

​

In January and February 2026, the Company reached agreements with Chinese shipyards for the construction of four Newcastlemax drybulk carriers of approximately 211,000 DWT each and expected delivery dates in 2028.

As of June 30, 2026, the aggregate contracted purchase price of the 29 container vessels and the four drybulk vessels under construction amounted to $2,484.3 million,out of which $284.3 million, $190.0 million, $174.5 million and $28.3 million was paid in the six months ended June 30, 2026 and in the years ended December 31, 2025, 2024 and 2023, respectively. As of June 30, 2026, the future remaining contractual commitments for the 29 container and the four drybulk vessels under construction were as follows (in thousands of US$):

​

​

​

​

​

Payments due by twelve month period ending:

  ​ ​ ​

in ‘000s of US$

June 30, 2027

​

$

805,115

June 30, 2028

​

 

646,865

June 30, 2029

​

 

355,171

Total contractual commitments

​

$

1,807,151

​

Additionally, a supervision fee of $850.0 thousand per newbuilding vessel is payable to Danaos Shipping Company Limited (the “Manager”) over the construction period. Supervision fees totaling $3.0 million and $1.9 million were charged by the Manager and capitalized to the vessels under construction in the six months ended June 30, 2026 and in the year ended December 31, 2025, respectively. Interest expense amounting to $16.3 million and $21.6 million was capitalized to the vessels under construction in the six months ended June 30, 2026 and in the year ended December 31, 2025, respectively.
v3.26.1
Deferred Charges, net
 6 Months Ended
Jun. 30, 2026
Deferred Charges, net  
Deferred Charges, net

4.

Deferred Charges, net

​

Deferred charges, net consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

Drydocking and

​

  ​ ​ ​

Special Survey Costs

As of January 1, 2025

​

$

58,759

Additions

​

​

39,671

Amortization

​

 

(44,074)

As of December 31, 2025

​

$

54,356

Additions

​

 

22,895

Write-off

​

 

(1,773)

Amortization

​

​

(21,009)

As of June 30, 2026

​

$

54,469

​

The Company follows the deferral method of accounting for drydocking and special survey costs in accordance with accounting for planned major maintenance activities, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period until the next scheduled survey, which is two and a half years. If special survey or drydocking is performed prior to the scheduled date, the remaining unamortized balances are immediately written off. Furthermore, when a vessel is drydocked in more than one reporting period, the respective costs are identified and recorded in the period in which they were incurred.
v3.26.1
Investments
 6 Months Ended
Jun. 30, 2026
Investments.  
Investments

5.

Investments

​

Investments under current assets and non-current assets consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

As of

  ​ ​ ​

As of

Current Assets

​

Balance Sheet Location

​

June 30, 2026

​

December 31, 2025

Marketable securities

 

Investments, Current

 

$

223,176

​

$

120,244

Total

 

  ​

​

$

223,176

​

$

120,244

​

​

​

​

​

​

​

​

​

​

​

​

​

As of

​

As of

Non-current Assets

​

​

​

June 30, 2026

​

December 31, 2025

Equity Investment in Alaska LNG project

 

Investments, Non-current

​

$

12,388

​

$

—

Total

 

  ​

​

$

12,388

​

$

—

​

​

5.

Investments (Continued)

​

Investments under Current Assets:

​

Marketable securities:

​

Star Bulk Carriers Corp. Shares: In 2023, the Company acquired marketable securities of Eagle Bulk Shipping Inc., an owner of bulk carriers, which was listed on the New York Stock Exchange (Ticker: EGLE). On December 11, 2023, Star Bulk Carriers Corp. (Ticker: SBLK), a NASDAQ-listed owner and operator of drybulk vessels, and EGLE, announced that both companies had entered into a definitive agreement to combine in an all-stock merger, which was completed on April 9, 2024. Under the terms of the agreement, EGLE shareholders received 2.6211 shares of SBLK common stock in exchange for each share of EGLE common stock owned. During the year ended December 31, 2025, the Company purchased an additional 2,185,967 shares of common stock of “SBLK” in the open market for $29.9 million. As of June 30, 2026 and December 31, 2025, the Company owned 6,256,181 shares of SBLK common stock.

​

As of June 30, 2026 and December 31, 2025, these marketable securities were fair valued at $156.2 million and $120.2 million, respectively. The Company recognized a $36.0 million gain and a $17.2 million gain on these marketable securities reflected under “Gain on investments” in the condensed consolidated statement of income for the six months ended June 30, 2026 and June 30, 2025, respectively. Additionally, the Company recognized dividend income on these shares amounting to $5.4 million in the six months ended June 30, 2026 and $0.7 million for the six months ended June 30, 2025 and reflected under “Dividend income” in the condensed consolidated statement of income.

​

Yoda PLC Shares: In April 2026, the Company entered into an irrevocable share subscription agreement to acquire 45,454,545 newly issued ordinary shares, in Yoda PLC (Ticker: YODA), a Cyprus-listed investment company. Yoda PLC’s portfolio is focused on shipping investments in the LNG and container sectors, real estate and other participations including healthcare. The shares were subscribed at €1.10 per share for total cash consideration of €50.0 million, approximately $58.6 million translated at the EUR/USD exchange rate prevailing at the date of subscription. The subscription was settled by cash payment. The Company does not hold a seat on Yoda’s Board of Directors and do not exercise significant influence over Yoda’s financial and operating policies.

​

As of June 30, 2026, the Company owned 45,454,545 shares of ordinary shares of YODA. As of June 30, 2026, these marketable securities were fair valued at $67.0 million and the Company recognized a $8.4 million net gain on these marketable securities reflected under “Gain on investments” in the condensed consolidated statement of income for the six months ended June 30, 2026, comprising a $9.9 million gain from the fair value remeasurement and a $1.5 million loss from EUR/USD exchange rate movement.

​

​

5.

Investments (Continued)

​

Investments under Non-current Assets:

​

Investments accounted for under the equity method:

​

Equity Investment in Alaska LNG Project: In January 2026, the Company entered into a non-controlling investment in Glenfarne Alaska Partners LLC (the “Investee”), an unconsolidated third-party limited liability company formed in connection with the Alaska LNG project, that is accounted for under the equity method of accounting in accordance with ASC 323. The Company does not control the Investee and does not participate in its management or policy-making activities. The Company’s investment in this Investee amounted to $12.4 million as of June 30, 2026 and is included in “Investments” under non-current assets in the consolidated balance sheet. The remaining commitment of $37.5 million is expected to be drawn over time in accordance with the terms of the partnership agreement. The Company’s share of losses in this investment amounted to $0.1 million for the six months ended June 30, 2026, and is presented in the consolidated statements of income under “Loss on equity investments” in the condensed consolidated statements of income.
v3.26.1
Other Current and Non-current Assets
 6 Months Ended
Jun. 30, 2026
Other Current and Non-current Assets  
Other Current and Non-current Assets

6.

Other Current and Non-current Assets

​

Other current and non-current assets consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

As of

​

As of

Other Current Assets

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Straight-lining of revenue

​

$

21,986

​

$

24,828

Claims receivable

​

​

9,023

​

​

9,978

Other current assets

​

​

9,175

​

​

16,087

Total other current assets

​

$

40,184

​

$

50,893

​

​

​

​

​

​

​

​

​

As of

​

As of

Other Non-current Assets

​

June 30, 2026

​

December 31, 2025

Straight-lining of revenue

​

$

17,464

​

$

30,144

EUAs & Fuel EUs

​

​

12,353

​

​

—

Other non-current assets

​

​

17,396

​

​

12,161

Total other non-current assets

​

$

47,213

​

$

42,305

​

Investments accounted for under the equity method under Other Current Assets:

​

Equity Investment in Carbon Termination Technologies Corporation: In March 2023, the Company invested $4.3 million in the common shares of a newly established company, Carbon Termination Technologies Corporation (“CTTC”), incorporated in the Republic of the Marshall Islands, which engages in research and development of decarbonization technologies for the shipping industry. This investment represents a 49% ownership interest and is accounted for under the equity method of accounting. In 2024 and 2025, the Company provided an additional funding of approximately $2.5 million to CTTC which bears interest at a rate of SOFR plus a margin of 2.0% and pursuant to an amendment executed on October 3, 2025, with a maturity date of December 31, 2026. On March 10, 2026, the Company provided an additional $0.4 million to CTTC under the existing facility which was recorded under “Other current assets” in the condensed consolidated balance sheet. The Company’s share of CTTC’s expenses amounted to $0.7 million and $0.6 million for the six months ended June 30, 2026 and 2025, respectively, and is presented in the consolidated statements of income under “Loss on equity investments”. As of June 30, 2026, the carrying value of the equity method investment has been reduced to nil. In accordance with ASC 323-10-35-28, the Company’s cumulative share of losses in excess of the investment carrying value has been applied against the outstanding loan receivable balance. The loan receivable balance is presented within “Other Current Assets” in the interim condensed balance sheets.
v3.26.1
Accrued Liabilities
 6 Months Ended
Jun. 30, 2026
Accrued Liabilities  
Accrued Liabilities

7.

Accrued Liabilities

​

Accrued liabilities consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

  ​ ​ ​

As of

  ​ ​ ​

As of

​

​

June 30, 2026

​

December 31, 2025

Accrued interest

​

$

13,596

​

$

16,402

Accrued dry-docking expenses

​

​

4,794

​

​

2,594

Accrued expenses

​

​

15,568

​

 

9,776

Total

​

$

33,958

​

$

28,772

​

Accrued expenses mainly consisted of accruals related to the operation of the Company’s fleet as of June 30, 2026 and December 31, 2025.
v3.26.1
Other Current and Long-term Liabilities
 6 Months Ended
Jun. 30, 2026
Other Current and Long-term Liabilities  
Other Current and Long-term Liabilities

8.Other Current and Long-term Liabilities

​

Other current and long-term liabilities consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

  ​ ​ ​

As of

  ​ ​ ​

As of

Other Current Liabilities

​

June 30, 2026

​

December 31, 2025

Straight-lining of revenue

​

$

15,673

​

$

15,494

EUAs & Fuel EUs

​

 

17,741

​

 

20,496

Total other current liabilities

​

$

33,414

​

$

35,990

​

​

​

​

​

​

​

​

​

  ​ ​ ​

As of

  ​ ​ ​

As of

Other Long-term Liabilities

​

June 30, 2026

​

December 31, 2025

Straight-lining of revenue

​

$

23,099

​

$

20,496

EUAs & Fuel EUs

​

 

12,410

​

 

—

Other non-current liabilities

​

 

21,739

​

 

21,487

Total other long-term liabilities

​

$

57,248

​

$

41,983

​
v3.26.1
Long-Term Debt, net
 6 Months Ended
Jun. 30, 2026
Long-Term Debt, net  
Long-Term Debt, net

9.

Long-Term Debt, net

​

Long-term debt, net consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

As of

​

As of

Credit Facility

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Syndicated $450.0 mil. Facility

​

$

—

​

$

335,210

Citibank $382.5 mil. Revolving Credit Facility

​

​

—

​

​

—

Syndicated $850.0 mil. Facility

​

​

—

​

​

—

JOLCO Facilities

​

​

732,725

​

​

79,806

KfW $132.0 mil. Facility

​

​

—

​

​

—

Senior unsecured notes

​

​

500,000

​

​

762,766

Total long-term debt

​

$

1,232,725

​

$

1,177,782

Less: Deferred finance costs (long term portion)

​

​

(19,016)

​

​

(17,032)

Less: Unamortized debt discount

​

​

(2,989)

​

​

(3,226)

Less: Current portion, gross of deferred finance costs

​

​

(26,629)

​

​

(285,448)

Total long-term debt net of current portion and long term portion of deferred finance costs

​

$

1,184,091

​

$

872,076

​

9.

Long-Term Debt, net (Continued)

Secured Credit Facilities:

Citibank $382.5 mil. Revolving Credit Facility

In December 2022, the Company early extinguished the remaining $437.75 million outstanding under the then existing Citibank/NatWest $815.0 million facility and replaced it with a $382.5 mil. Revolving Credit Facility with Citibank (the “Citibank $382.5 mil. Revolving Credit Facility”) and with Alpha Bank $55.25 mil. Facility (as defined below). As of June 30, 2026, no amounts were drawn down under Citibank $382.5 mil. Revolving Credit Facility. The Citibank $382.5 million Revolving Credit Facility is a reducing facility and is repayable over five years through 20 quarterly commitment reductions of $11.25 million each, followed by a final reduction of $157.5 million at maturity in December 2027. Borrowings under this facility bear interest at SOFR plus a margin. The facility is secured by twelve of the Company’s vessels.

​

Syndicated $850.0 mil. Facility

​

In February 2025, the Company entered into a syndicated loan facility agreement for a maximum principal amount of up to $850.0 million (the “Syndicated $850.0 mil. Facility”), to finance a portion of the purchase price of 14 newbuilding container vessels. The facility is expected to be drawn upon delivery of each vessel in separate tranches. Each vessel tranche is repayable in 20 equal quarterly instalments of approximately $0.8 million per tranche followed by a final payment on the fifth anniversary of each vessel’s tranche of between $42.4 million and $46.7 million per tranche up to December 2033. The facility bears interest at SOFR plus a margin. As of June 30, 2026, no amounts were drawn down under Syndicated $850.0 mil. Facility.

JOLCO Facilities

In October 2025 and December 2025, the Company entered into Japanese Operating Lease with Call Option arrangements (the “JOLCO Facilities”) to finance the container vessels Phoebe and Greenhouse, respectively, and during the six months ended June 30, 2026, the Company entered into additional JOLCO Facilities to finance the operating container vessels Interasia Accelerate, Interasia Amplify, Catherine C, Greenland, Greenville and Greenfield. Although legal title to the operating vessels was transferred to the respective lessors as part of these arrangements, the transactions did not qualify as sales under the sale-leaseback guidance in ASC 842 (which incorporates the sale criteria in ASC 606) and are therefore accounted for as failed sale-leaseback transactions and financing arrangements in accordance with ASC 470. Accordingly, the vessels continue to be recognized within “Fixed assets, net” on the Company’s condensed consolidated balance sheets and are depreciated over their remaining useful lives, and the proceeds received are recognized as financing liabilities.

In addition, during the six months ended June 30, 2026, the Company entered into three additional JOLCO facilities to finance the vessels under construction on their delivery, with Hull Nos. CV5900-09, C7100-9 and C7100-10. Each facility provides funding ranging from $68.0 million to $103.5 million, has an approximate term of eight years and includes call options that allow the Company to repurchase the respective vessels at specified dates during the term of the arrangements.

As of June 30, 2026, the Company had drawn $738.0 million in aggregate proceeds under these arrangements, which were recognized as financing liabilities, while the remaining $236.0 million commitment relates to the Hull Nos. CV5900-09, C7100-9 and C7100-10, which are expected to be drawn in 2027. The undrawn commitments are subject to customary conditions precedent to drawdown under the respective agreements.

​

9.

Long-Term Debt, net (Continued)

Secured Credit Facilities (Continued):

Below is a summary of JOLCO facilities (amounts in millions of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

​

  ​ ​ ​

Facility

  ​ ​ ​

Balance as of

Vessel/Hull No.

​

Signing Date

​

Drawdown Date

​

Amount

​

June 30, 2026

Phoebe

 

October 2025

​

October 2025

​

$

80.0

​

$

78.6

Greenhouse

 

December 2025

​

January 2026

​

$

80.0

​

$

79.1

Interasia Accelerate

 

March 2026

​

March 2026

​

$

85.5

​

$

84.5

Interasia Amplify

 

March 2026

​

March 2026

​

$

85.5

​

$

84.5

Catherine C

 

March 2026

​

March 2026

​

$

100.0

​

$

99.4

Greenland

 

March 2026

​

April 2026

​

$

100.0

​

$

99.6

Greenville

 

March 2026

​

June 2026

​

$

103.5

​

$

103.5

Greenfield

 

March 2026

​

June 2026

​

$

103.5

​

$

103.5

CV5900-09

 

May 2026

​

May 2027(1)

​

$

68.0

​

$

—

C7100-9

 

May 2026

​

July 2027(1)

​

$

84.0

​

$

—

C7100-10

 

May 2026

​

August 2027(1)

​

$

84.0

​

$

—

​

​

​

​

​

​

​

​

​

$

732.7

(1)

The undrawn facility amount is subject to customary conditions precedent to drawdown under the respective agreement.

​

KfW $132.0 mil. Facility

In May 2026, the Company entered into a loan facility agreement with KfW IPEX-Bank GmbH for a maximum principal amount of up to $132.0 million (the “KfW $132.0 mil. Facility”), to finance a portion of the construction of six 1,800 TEU newbuilding container vessels. The facility is expected to be drawn upon delivery of each vessel in separate tranches of $22.0 million each with drawdowns expected between the fourth quarter of 2027 and the first quarter of 2029. Each vessel tranche is repayable in 40 quarterly instalments, comprising 39 equal quarterly instalments of $0.3 million and a final instalment of $10.3 million on approximately the tenth anniversary of each vessel’s tranche drawdown. The facility bears interest at SOFR plus a margin. As of June 30, 2026, no amounts were drawn down under the KfW $132.0 mil. Facility.

The Citibank $382.5 mil. Revolving Credit Facility contain a requirement to maintain minimum fair market value of collateral vessels to loan value coverage of 120%. Additionally, the Citibank $382.5 mil. Revolving Credit Facility and JOLCO Facilities require the Company to maintain the following financial covenants:

​

(i)minimum liquidity of $30.0 million;
(ii)maximum consolidated debt (less cash and cash equivalents) to consolidated EBITDA ratio of 6.5x; and
(iii)minimum consolidated EBITDA to net interest expense ratio of 2.5x.

​

Each of the secured credit facilities are collateralized by first preferred mortgages over the vessels financed, general assignment of charter hire, freights, income and earnings, the assignment of insurance policies, as well as any proceeds from the sale of mortgaged vessels, stock pledges and benefits from corporate guarantees (as noted below, the Company’s senior unsecured notes are not collateralized). The Company was in compliance with the financial covenants contained in the credit facilities agreements as of June 30, 2026 and December 31, 2025, respectively. Twenty of the Company’s vessels having a net carrying value of $1,393.6 million as of June 30, 2026, were subject to first preferred mortgages as collateral to the Company’s secured credit facilities.

As of June 30, 2026, there was a $225.0 million remaining borrowing availability under the Company’s Citibank $382.5 million Revolving Credit Facility, $850.0 million under the Syndicated $850.0 mil. Facility, $236.0 million under the JOLCO Facilities and $132.0 million under the KfW IPEX-Bank facility.

9.Long-Term Debt, net (Continued)

Credit Facilities early prepaid during the six months ended June 30, 2026:

​

Syndicated $450.0 mil. Facility

In March 2024, the Company entered into a syndicated secured loan facility agreement providing for a maximum principal amount of up to $450.0 million (the “Syndicated $450.0 mil. Facility”), was initially secured by eight of the Company’s container vessels and was structured in separate vessel tranches, each drawn upon delivery of the respective vessel. Each drawn vessel tranche was repayable in 20 equal quarterly instalments ranging from $0.6 million to $0.9 million per tranche, followed by a balloon payment due on the fifth anniversary of each tranche, ranging from $31.8 million to $45.5 million, with final maturities extending through September 2030. During 2025, the Company prepaid the outstanding principal amount of $42.78 million relating to the vessel Phoebe and cancelled the undrawn tranche relating to the vessel Greenhouse in connection with obtaining alternative financing arrangements. On March 2, 2026, the Company together with the quarterly instalments for the tranches relating to the vessels Catherine C, Greenland, Interasia Accelerate, and Interasia Amplify, also prepaid in full the outstanding principal amounts of these tranches. On June 2, 2026, the Company together with the quarterly instalments for the tranches relating to the vessels Greenfield and Greenville, also prepaid in full the outstanding principal amounts of these tranches. All vessels previously under the Syndicated $450.0 mil. Facility, were subsequently financed under JOLCO Facilities.

In connection with the prepayments, the Company wrote off approximately $3.8 million of unamortized deferred financing costs, which was recognized as “Loss on debt extinguishment” in the condensed consolidated statement of income for the six months ended June 30, 2026. As of June 30, 2026, there were no amounts outstanding under this facility.

Credit Facilities early prepaid during the year ended December 31, 2025:

BNP Paribas/Credit Agricole $130 mil. Facility

In June 2022, the Company put in place a $130.0 million senior secured term loan facility with BNP Paribas and Credit Agricole (the “BNP Paribas/Credit Agricole $130 mil. Facility”), which is secured by six 5,466 TEU sister vessels acquired in 2021. The facility is repayable in eight quarterly instalments of $5.0 million followed by twelve quarterly instalments of $1.9 million, together with a balloon payment of $67.2 million payable at maturity of the facility’s five year term in June 2027. The facility bore interest at SOFR plus a margin. On December 1, 2025, the Company early prepaid the outstanding principal amount of $78.6 million under the BNP Paribas/Credit Agricole $130.0 million Facility. Following this prepayment, no balance remained outstanding thereafter.

Alpha Bank $55.25 mil. Facility

In December 2022, the Company entered into a $55.25 million secured credit facility with Alpha Bank, which was fully utilized (the “Alpha Bank $55.25 mil. Facility”). The Alpha Bank $55.25 mil. Facility was repayable over five years in 20 consecutive quarterly instalments of $1.875 million each, with a balloon payment of $17.75 million due at maturity in December 2027. This facility bore interest at SOFR plus a margin and was secured by two of the Company’s vessels. On December 1, 2025, the Company early prepaid the outstanding principal amount of $32.8 million under the Alpha Bank $55.25 mil. Facility. Following this prepayment, no balance remained outstanding thereafter.

9.Long-Term Debt, net (Continued)

Unsecured Credit Facilities:

6.875% Senior Unsecured Notes Due 2032

On October 16, 2025, the Company issued in a private placement, $500.0 million aggregate principal amount of 6.875% senior unsecured notes due 2032 (the “6.875% Senior Notes”). The 6.875% Senior Notes were issued at a price of 99.335% of par, resulting in gross proceeds of $496.7 million. The 6.875% Senior Notes mature on October 15, 2032 and bear interest at a rate of 6.875% per annum, payable semiannually in arrears March 1 and September 1, beginning March 1, 2026. The Notes were recorded at their initial carrying amount, which consisted of the cash proceeds received, net of the original issue discount. The Company is amortizing the original issue discount over the term of the 6.875% Senior Notes using the effective interest method. The amount of $12.8 million of bond issuance costs were deferred over the life of the bond and recognized through the effective interest method.

The Company may redeem some or all of the 6.875% Senior Notes at any time or from time to time for cash: (i) prior to October 15, 2028, at 100.000% of the principal amount of such notes, plus an applicable make-whole premium and accrued and unpaid interest; (ii) on or after October 15, 2028 and prior to October 15, 2029, at 103.438% of the principal amount, plus accrued and unpaid interest; (iii) on or after October 15, 2029 and prior to October 15, 2030, at 101.719% of the principal amount, plus accrued and unpaid interest; and (iv) on or after October 15, 2030 and prior to maturity, at 100.000% of the principal amount, in each case plus accrued and unpaid interest to, but not including, the redemption date.

Subject to certain conditions, at any time and from time to time prior to October 15, 2028, the Company may redeem up to 40% of the original aggregate principal amount of the 6.875% Senior Notes with the net cash proceeds of public equity offerings of the Company and certain equity contributions at a redemption price of 106.875% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the redemption date; provided that at least 60% of the original aggregate principal amount of the 6.875% Senior Notes remains outstanding.

8.500% Senior Unsecured Notes Due 2028

On February 11, 2021, the Company issued in a private placement, $300.0 million aggregate principal amount of 8.500% senior unsecured notes due 2028 (the “8.500% Senior Notes”), which bore interest at a fixed rate of 8.500% per annum and were scheduled to mature on March 1, 2028. Interest was payable semi-annually. The Company had previously repurchased $37.2 million aggregate principal amount of the notes in December 2022 in a privately negotiated transaction. In connection with the scheduled redemption, the Company fully repaid the outstanding principal amount of $262.8 million on March 2, 2026. Upon repayment, the remaining unamortized deferred issuance costs of $2.2 million were written off and were recognized as “Loss on debt extinguishment” in the condensed consolidated statement of income for the six months ended June 30, 2026.

​

9.

Long-Term Debt, net (Continued)

Principal Payments of Secured and Unsecured Credit Facilities:

The scheduled debt maturities of long-term debt subsequent to June 30, 2026 are as follows (in thousands of US$):

​

​

​

​

​

​

​

Principal

Payments due by twelve month period ending:

  ​ ​ ​

repayments

June 30, 2027

​

$

26,629

June 30, 2028

​

​

31,249

June 30, 2029

​

​

33,134

June 30, 2030

​

​

35,041

June 30, 2031

​

​

37,058

June 30, 2032 and thereafter

​

​

1,069,614

Total long-term debt

​

$

1,232,725

​

Interest and Finance costs:

The amounts of “Interest and finance costs” included in the condensed consolidated income statements are analyzed as follows (in thousands of US$):

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended June 30,

​

​

2026

​

​

2025

Interest on secured and unsecured credit facilities

​

$

34,541

​

$

27,437

Less: Interest capitalized

​

 

(16,320)

​

 

(9,268)

Amortization of debt issuance costs & debt discount

​

 

1,765

​

 

1,545

Interest and finance costs

​

$

19,986

​

$

19,714

​

The weighted-average interest rate on long-term borrowings was 6.22% and 7.02% for the six months ended June 30, 2026 and 2025, respectively.

Loss on debt extinguishment:

The Company recognized $6.0 million and nil under “Loss on debt extinguishment” in the condensed consolidated statements of income for the six months ended June 30, 2026 and 2025, respectively. These amounts relate to the write-off of unamortized debt issuance costs, commitment fees and other expenses incurred in connection with the extinguishment of debt, including the repayment of 8.500% Senior Notes.
v3.26.1
Financial Instruments
 6 Months Ended
Jun. 30, 2026
Financial Instruments  
Financial Instruments

10.

Financial Instruments

The following is a summary of the Company’s risk management strategies and the effect of these strategies on the Company’s condensed consolidated financial statements.

​

Interest Rate Risk: Interest rate risk arises on bank borrowings. The Company monitors the interest rate on borrowings closely to ensure that the borrowings are maintained at favorable rates.

​

Foreign Currency Risk: In April 2026, the Company acquired an equity investment in Yoda PLC (Note 5), which is denominated in Euro (“EUR”). This investment is measured at fair value through net income and its USD carrying value is subject to EUR/USD exchange rate fluctuations. The Company has not entered into any hedging instruments with respect to this exposure.

​

Concentration of Credit Risk: Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents and trade accounts receivable. The Company places its temporary cash investments, consisting mostly of deposits, with established financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. The Company is exposed to credit risk in the event of non-performance by counterparties, however, the Company limits this exposure by diversifying among counterparties with high credit ratings. The Company depends upon a limited number of customers for a large part of its revenues. Credit risk with respect to trade accounts receivable is generally managed by the selection of customers among the major liner companies in the world and their dispersion across many geographic areas.

​

Fair Value: The carrying amounts reflected in the accompanying condensed consolidated balance sheets of financial assets and liabilities (excluding long-term bank loans and certain other non-current assets) approximate their respective fair values due to the short maturity of these instruments. The fair values of long-term floating rate bank loans approximate the recorded values, generally due to their variable interest rates. The fair value of senior unsecured notes is measured based on quoted market prices. The fair value of marketable securities is measured based on the closing price of the securities on a stock exchange.

​

a. Interest Rate Swap Hedges

The Company currently has no outstanding interest rate swaps agreements. However, in the past years, the Company entered into interest rate swap agreements with its lenders in order to manage its floating rate exposure. Certain variable-rate interests on specific borrowings were associated with vessels under construction and were capitalized as a cost of the specific vessels. In accordance with the accounting guidance on derivatives and hedging, the amounts related to realized gains or losses on cash flow hedges that have been entered into and qualified for hedge accounting, in order to hedge the variability of that interest, were recognized in accumulated other comprehensive loss and are reclassified into earnings over the depreciable life of the constructed asset, since that depreciable life coincides with the amortization period for the capitalized interest cost on the debt. An amount of $1.8 million was reclassified into earnings for the six months ended June 30, 2026 and 2025, representing its amortization over the depreciable life of the vessels. An amount of $3.6 million is expected to be reclassified into earnings within the next 12 months.

b. Fair Value of Financial Instruments

​

The Company determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy.

Level I: Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation of these items does not entail a significant amount of judgment.

Level II: Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.

Level III: Inputs that are unobservable. The Company did not use any Level 3 inputs as of June 30, 2026 and December 31, 2025.

​

10.

Financial Instruments (Continued)

​

b. Fair Value of Financial Instruments (Continued)

The estimated fair values of the Company’s financial instruments are as follows (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of June 30, 2026

​

As of December 31, 2025

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Book Value

  ​ ​ ​

Fair Value

  ​ ​ ​

Book Value

  ​ ​ ​

Fair Value

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

Cash and cash equivalents

​

$

1,008,268

​

$

1,008,268

​

$

1,037,292

​

$

1,037,292

Marketable securities

​

Investments, Current

​

$

223,176

​

$

223,176

​

$

120,244

​

$

120,244

LIABILITIES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Secured long-term debt, including current portion (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

732,725

​

$

732,725

​

$

415,016

​

$

415,016

Unsecured long-term debt (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

500,000

​

$

518,125

​

$

762,766

​

$

782,269

​

The estimated fair value of the financial instruments that are measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of June 30, 2026 (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Fair Value Measurements as of June 30, 2026

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

(Level II)

  ​ ​ ​

(Level III)

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Marketable securities

​

Investments, Current

​

$

223,176

​

$

223,176

​

$

—

​

$

—

​

The estimated fair value of the financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of June 30, 2026 (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of June 30, 2026

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

 (Level II)

  ​ ​ ​

(Level III)

​

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

Cash and cash equivalents

​

$

1,008,268

​

$

1,008,268

​

$

—

​

$

—

LIABILITIES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Secured long-term debt, including current portion (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

732,725

​

$

—

​

$

732,725

​

$

—

Unsecured long-term debt (1)

​

Long-term debt, net

​

$

518,125

​

$

518,125

​

$

—

​

$

—

​

The estimated fair value of the financial instruments that are measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2025 (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2025

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

(Level II)

  ​ ​ ​

(Level III)

​

​

​

 

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Marketable securities

​

Investments, Current

​

$

120,244

​

$

120,244

​

$

—

​

$

—

​

10.

Financial Instruments (Continued)

​

b. Fair Value of Financial Instruments (Continued)

​

The estimated fair value of the financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2025 (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2025

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

(Level II)

  ​ ​ ​

(Level III)

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

Cash and cash equivalents

​

$

1,037,292

​

$

1,037,292

​

$

—

​

$

—

LIABILITIES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Secured long-term debt, including current portion (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

415,016

​

$

—

​

$

415,016

​

$

—

Unsecured long-term debt (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

782,269

​

$

782,269

​

$

—

​

$

—

(1)Secured and unsecured long-term debt, including current portion is presented gross of deferred finance costs and debt discount of $22.0 million and $22.7 million (current and non current portions) as of June 30, 2026 and December 31, 2025, respectively. The fair value of the Company’s secured debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities.
v3.26.1
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies  
Commitments and Contingencies

11.

Commitments and Contingencies

​

There are no material legal proceedings to which the Company is a party or to which any of its properties are the subject, or other contingencies that the Company is aware of, other than routine litigation incidental to the Company’s business.

​

The Company has outstanding commitments under vessel construction contracts as of June 30, 2026, see Note 3 “Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition”.

​
v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity  
Stockholders' Equity

12.

Stockholders’ Equity

​

During the six-month period ended June 30, 2026, the Company declared a dividend of $0.90 per share of common stock paid in each of March and June amounting to $32.8 million. During the six month period ended June 30, 2025, the Company declared a dividend of $0.85 per share of common stock paid in each of February and June amounting to $31.5 million. The Company issued 92 and 98 shares of common stock pursuant to its dividends reinvestment plan in the six-month periods ended June 30, 2026 and June 30, 2025, respectively.

​

In June 2022, the Company announced a share repurchase program of up to $100.0 million of the Company’s common stock. This share repurchase program was upsized by $100.0 million on November 10, 2023 and by an additional $100.0 million on April 14, 2025 for a total aggregate amount of $300.0 million. The Company repurchased 60,819 shares of its common stock in the open market for $5.9 million in the six months ended June 30, 2026; 927,527 shares for $76.1 million in the year ended December 31, 2025; 661,103 shares for $53.9 million in the year ended December 31, 2024; 1,131,040 shares for $70.6 million in the year ended December 31, 2023 and 466,955 shares for $28.6 million in the year ended December 31, 2022. In total, as of June 30, 2026, the Company had repurchased a total of 3,247,444 shares of common stock for $235.1 million under this repurchase program. During the six months ended June 30, 2026, the Company settled $0.9 million of share repurchases that were executed in the fourth quarter of 2025, which are included in cash paid for repurchases of common stock in the condensed consolidated statement of cash flows.

​

12.

Stockholders’ Equity (Continued)

​

As of April 18, 2008, the Board of Directors and the Compensation Committee approved incentive compensation of the Manager’s employees with its shares from time to time, after specific for each such time, decision by the compensation committee and the Board of Directors in order to provide a means of compensation in the form of free shares to certain employees of the Manager of the Company’s common stock. The plan was effective as of December 31, 2008. Pursuant to the terms of the plan, employees of the Manager may receive (from time to time) shares of the Company’s common stock as additional compensation for their services offered during the preceding period. The total amount of stock to be granted to employees of the Manager will be at the Company’s Board of Directors’ discretion only and there will be no contractual obligation for any stock to be granted as part of the employees’ compensation package in future periods.

​

In August 2025, the Company granted 100,000 shares to the Manager for the year ending December 31, 2026 under the amended and restated management agreement with the Manager as described in Note 15 “Related Party Transactions”. The fair value of shares granted was calculated based on the closing trading price of the Company’s shares at the grant date.

​

In December 2024, the Company granted 30,000 shares of restricted stock to certain employees of the Manager, out of which 2,000 shares vested in December 2025, 4,000 shares will vest in December 2026, 8,000 shares in December 2027 and the remaining 16,000 shares in December 2028. As of June 30, 2026, 28,000 shares remained unvested and will remain restricted until they vest. The vesting of these shares is subject to satisfaction of the vesting terms, under the Company’s 2006 Equity Compensation Plan, as amended. The 30,000 restricted shares were issued and outstanding as of December 31, 2024, with aggregate compensation expense of $2.3 million related thereto expected to be recognized as the shares vest over a four-year period. In relation to the vesting of these 28,000 restricted shares to certain employees of the Manager and the 100,000 shares to vest to the Manager at the end of 2026 under the amended and restated management agreement (please refer to Note 15 “Related Party Transactions”), an amount of $4.8 million was recorded in the six months ended June 30, 2026 under “General and administrative expenses” in the condensed consolidated income statements. As of June 30, 2026, the weighted-average remaining term of the Manager’s compensation stock relating to non-vested restricted shares not yet recognized was $6.0 million. This cost is expected to be recognized over a weighted average period of 1.0 year.

The aggregate number of shares of common stock for which awards may be granted under the Plan shall not exceed 1,000,000 shares plus the number of unvested shares granted before August 2, 2019. The equity awards may be granted by the Company’s Compensation Committee or Board of Directors under its amended and restated 2006 equity compensation plan. Awards made under the Plan that have been forfeited, cancelled or have expired, will not be treated as having been granted for purposes of the preceding sentence.

The Company has also established the Directors Share Payment Plan under its 2006 equity compensation plan. The purpose of the plan is to provide a means of payment of all or a portion of compensation payable to directors of the Company in the form of Company’s Common Stock. The plan was effective as of April 18, 2008, and amended effective August 26, 2025. Each member of the Board of Directors of the Company may participate in the plan. Pursuant to the terms of the plan, directors may elect to receive in Common Stock all or a portion of their compensation. Following the last of each calendar quarter, the Company delivers to each Director the number of shares represented by the rights credited to their Share Payment Account during the preceding calendar quarter. During the six months ended June 30, 2026 and June 30, 2025, none of the directors elected to receive their compensation in Company shares.
v3.26.1
Lease Arrangements
 6 Months Ended
Jun. 30, 2026
Lease Arrangements  
Lease Arrangements

13.

Lease Arrangements

​

Charters-out

​

As of June 30, 2026, the Company generated operating revenues from its 75 container vessels on time charters or bareboat charter agreements, with remaining terms ranging from less than one year to 2032. Additionally, the Company contracted 3-year, 5-year, 7-year and 10-year time charter agreements for the 23 out of 29 container vessels under construction as of June 30, 2026. Under the terms of the charter party agreements, most charterers have options to extend the duration of contracts ranging from less than one year to four years after the expiration of the contract. The Company determines fair value of its vessels at the lease commencement date and at the end of lease term for lease classification with the assistance from valuations obtained by third party independent shipbrokers. The Company manages its risk associated with the residual value of its vessels after the expiration of the charter party agreements by seeking multi-year charter arrangements for its vessels.

​

In May 2022, the Company received $238.9 million of charter hire prepayment related to charter contracts for 15 of the Company’s vessels, representing partial prepayment of charter hire payable up to January 2027. This charter hire prepayment is recognized in revenue through the remaining period of each charter party agreement, in addition to the contracted future minimum payments reflected in the table below. As of June 30, 2026, the outstanding balances of the current and non - current portion of unearned revenue in relation to this prepayment amounted to $11.2 million and nil, respectively. As of December 31, 2025, the outstanding balances of the current and non - current portion of unearned revenue in relation to this prepayment amounted to $20.3 million and $2.6 million, respectively.

​

The future minimum payments, expected to be received on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of June 30, 2026 (in thousands of US$):

​

​

​

​

​

Period

​

​

in ‘000s of US$

2026 (remaining)

  ​ ​ ​

$

506,546

2027

 

​

967,838

2028

 

​

857,583

2029

 

​

681,556

2030

​

​

493,088

2031 and thereafter

 

​

801,033

Total future rentals

​

$

4,307,644

​

Rentals from time charters are not generally received when a vessel is off-hire, including time required for normal periodic maintenance of the vessel. In arriving at the future minimum rentals, an estimated time off-hire to perform periodic maintenance on each vessel has been deducted, although there is no assurance that such estimate will be reflective of the actual off-hire in the future.
v3.26.1
Earnings per Share
 6 Months Ended
Jun. 30, 2026
Earnings per Share  
Earnings per Share

14.

Earnings per Share

​

The following table sets forth the computation of basic and diluted earnings per share:

​

​

​

​

​

​

​

​

​

​

Three months ended June 30,

​

  ​ ​ ​

2026

  ​ ​ ​

2025

Numerator:

​

​

​

​

​

​

Net income (in thousands of US$)

​

$

151,815

​

$

130,904

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

​

​

​

​

​

Basic weighted average common shares outstanding

​

 

18,204

​

 

18,344

Effect of dilutive securities:

​

 

​

​

 

​

Dilutive effect of non-vested shares

​

 

52

​

 

52

Diluted weighted average common shares outstanding

​

 

18,256

​

 

18,396

Basic earnings per share (in US$ per share)

​

$

8.34

​

$

7.14

Diluted earnings per share (in US$ per share)

​

$

8.32

​

$

7.12

​

​

​

​

​

​

​

​

​

​

Six months ended June 30,

​

  ​ ​ ​

2026

  ​ ​ ​

2025

Numerator:

​

​

​

​

​

​

Net income (in thousands of US$)

​

$

292,236

​

$

246,051

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

 

​

​

 

​

Basic weighted average common shares outstanding

​

​

18,207

​

​

18,546

Effect of dilutive securities:

​

​

​

​

​

​

Dilutive effect of non-vested shares

​

​

38

​

​

42

Diluted weighted average common shares outstanding

​

​

18,245

​

​

18,588

Basic earnings per share (in US$ per share)

​

$

16.05

​

$

13.27

Diluted earnings per share (in US$ per share)

​

$

16.02

​

$

13.24

​
v3.26.1
Related Party Transactions
 6 Months Ended
Jun. 30, 2026
Related Party Transactions  
Related Party Transactions

15.

Related Party Transactions

​

On February 3, 2025, the Company entered into an amended and restated management agreement with Danaos Shipping Co. Ltd (the “Manager” or “Danaos Shipping”), effective as of January 1, 2025 until December 31, 2025, removing the provision of certain commercial services provided to the Company by Danaos Shipping and the related fees payable by the Company. Under this agreement the Company pays to the Manager the following fees:

(i)an annual management fee of $2.0 million and 100,000 shares of the Company’s common stock, payable annually,
(ii)a daily vessel management fee of $475 for vessels on bareboat charter, pro-rated for the number of calendar days the Company owns each vessel,
(iii)a daily vessel management fee of $950 for vessels on time charter and voyage charter, pro-rated for the number of calendar days the Company owns each vessel,
(iv)a flat fee of $850 thousand per newbuilding vessel, which is capitalized to the newbuilding cost, for the on premises supervision of any newbuilding contracts by selected engineers and others of its staff, and
(v)a fee of $1 per Emission Allowance required to be surrendered by the Responsible entity under the EU ETS or any other applicable emission scheme in any calendar year.

​

On August 1, 2025, the Company further amended the management agreement with the Manager to extend the termination date to December 31, 2026, and under which the Company will pay the following fees:

​

(i)an annual management fee of (a) $2.0 million for the remainder of 2025 and (b) $2.5 million effective as of January 1, 2026,
(ii)100,000 shares of the Company’s common stock, payable annually in the fourth quarter of each year,

15.

Related Party Transactions (Continued)

​

(iii)a daily vessel management fee of (a) $475 for vessels on bareboat charter for the remainder of 2025 and (b) $550 for vessels on bareboat charter for 2026, effective as of January 1, 2026, each pro-rated for the number of calendar days the Company owns each vessel,
(iv)a daily vessel management fee (a) of $950 for vessels on time charter or voyage charter for the remainder of 2025 and (b) of $1,100 for vessels on time charter or voyage charter for 2026, effective as of January 1, 2026, each pro-rated for the number of calendar days the Company owns each vessel,
(v)a flat fee of $850 thousand per newbuilding vessel, which is capitalized to the newbuilding cost, for on premises supervision of any newbuilding contracts by selected engineers and other staff, and
(vi)a fee of $1 per Emission Allowance required to be surrendered by the Responsible entity under the EU ETS or any other applicable emission scheme in any calendar year.

​

On February 3, 2025, the Company entered into a brokerage services agreement with Danaos Chartering Services Inc. (“Danaos Chartering”), effective as of January 1, 2025 until December 31, 2025, for the provision of commercial services at the same fees previously payable to Danaos Shipping Company Limited. Danaos Chartering, a newly-formed affiliate of Danaos Shipping, is ultimately owned by Danaos Investment Limited (“DIL”), the Company’s largest stockholder. On August 1, 2025, the Company amended the brokerage services agreement with Danaos Chartering to extend the termination date to December 31, 2026. Except for this change in the termination time, all other terms and fee structures of the agreement remain unchanged, under which the Company will pay:

​

(i)a management fee of 1.25%
(ii)on all freight, charter hire, ballast bonus and demurrage for each vessel, and
(iii)a fee of 1.0% based on the contract price of any vessel bought or sold by it on the Company’s behalf, including newbuilding contracts.

​

For the six month period ended June 30, 2026 and 2025, management fees to Danaos Shipping amounted to $18.2 million and $15.3 million, respectively, and are presented under “General and administrative expenses” in the condensed consolidated statements of income. For the six month periods ended June 30, 2026 and 2025, commissions for commercial services to Danaos Chartering and Danaos Shipping amounted to $6.8 million and $6.4 million, respectively, and are presented under “Voyage expenses” in the condensed consolidated statements of income. Commissions on the contract price of newly acquired vessels charged by Danaos Chartering and Danaos Shipping totaled $0.3 million and $1.2 million in the six months ended June 30, 2026 and the year ended December 31, 2025, respectively, and were capitalized to the cost of the newly acquired vessels. Additionally, supervision fees for vessels under construction charged by Danaos Shipping and capitalized to vessels under construction totaled $3.0 million and $1.9 million in the six months ended June 30, 2026 and the year ended December 31, 2025, respectively.

​

The balance “Due from related parties” in the condensed consolidated balance sheets totaling $59.0 million and $46.8 million as of June 30, 2026 and December 31, 2025, respectively, represents advances to the Manager on account of the vessels’ operating and other expenses.

​

The defined benefit obligation for executive officers of $21.7 million and $21.5 million is presented within “Other long-term liabilities” in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025, respectively. Prior service cost related to this obligation of $1.1 million and $0.6 million was reclassified from accumulated other comprehensive loss to “Other (expenses)/income, net” for the six months ended June 30, 2026 and 2025, respectively. Foreign exchange resulted in a gain of $0.6 million and a loss of $1.6 million, which were recognized in “Other (expenses)/income, net” for the six months ended June 30, 2026 and 2025, respectively. Interest cost of $0.3 million and $0.2 million was recognized in “Other finance expenses” for the six months ended June 30, 2026 and 2025, respectively. In addition, $2.3 million of amortization related to prior service cost and net loss is expected to be reclassified to “Other (expenses)/income, net” during the twelve-month period ending June 30, 2027.
v3.26.1
Operating Revenue
 6 Months Ended
Jun. 30, 2026
Operating Revenue  
Operating Revenue

16.Operating Revenue

​

Operating revenue from time charters and bareboat charters and voyage charters for the six months ended June 30, 2026 and 2025, were as follows:

​

​

​

​

​

​

​

​

​

​

Six months ended June 30,

​

  ​ ​ ​

2026

  ​ ​ ​

2025

Time charters and bareboat charters

​

$

501,286

​

$

488,717

Voyage charters

​

 

26,782

​

 

26,744

Total Operating Revenue

​

$

528,068

​

$

515,461

​

As of June 30, 2026 and December 31, 2025, the Company had accounts receivable from voyage charter agreements amounting to $0.8 million and $3.1 million, respectively, and are presented under “Accounts receivable, net” in the condensed consolidated balance sheets.

​

The operating revenues received in advance from voyage charter agreements amounting to $1.6 million and nil is presented under current “Unearned revenue” in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025, respectively. Unearned revenue as of December 31, 2025 was recognized in earnings in the six months ended June 30, 2026 as the performance obligations were satisfied in that period. Unearned revenue related to voyage charter agreements in progress as of June 30, 2026 will be recognized in earnings as performance obligations will be satisfied.

​

Further, as of June 30, 2026, capitalized contract fulfilment costs, which are recorded under “Other current assets” in the condensed consolidated balance sheets, decreased by $0.9 million compared to December 31, 2025, to $0.6 million from $1.5 million. The outstanding balance is mainly affected by the timing of commencement of revenue recognition.

​

During the six months ended June 30, 2026, the Company entered into early termination agreements for certain vessels operating under time charter arrangements. In connection with these time charter terminations, the Company recorded a $5.1 million net gain within “Voyage Expenses”, in the condensed consolidated statement of income. The net gain mainly reflects the retention of bunkers on redelivery at no consideration.
v3.26.1
Segments
 6 Months Ended
Jun. 30, 2026
Segments  
Segments

17.Segments

​

Since the acquisition of the drybulk vessels in 2023, for management purposes, the Company is organized based on operating revenues generated from container vessels and drybulk vessels and have two reporting segments: (1) a container vessels segment and (2) a drybulk vessels segment. The container vessels segment owns and operates container vessels which are primarily chartered on multi-year, fixed-rate time charter and bareboat charter agreements. The drybulk vessels segment owns and operates drybulk vessels to provide drybulk commodities transportation services.

​

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM monitors and assesses the performance of the container vessels segment and the drybulk vessels segment based on each segment’s net income. The CODM uses segment net income to evaluate the overall profitability of each segment on a consistent basis, identify trends in segment-level operating performance, and make decisions regarding the allocation of capital between the two segments. 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. Other segment items include components that are not allocated to any of the Company’s reportable segments and include equity investments accounted for using the equity method of accounting and investments in marketable securities. These items are reviewed by the CODM at the consolidated level and are not considered in the evaluation of individual segment performance.

​

17.Segments (Continued)

The following table summarizes the Company’s selected financial information for the six months ended June 30, 2026, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Drybulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2026 (1)

  ​ ​ ​

segment

  ​ ​ ​

segment

  ​ ​ ​

Total

​

​

(in ‘000s of US$)

Operating revenues

​

$

468,200

​

$

59,868

​

$

528,068

Voyage expenses

​

 

(13,773)

​

 

(14,776)

​

 

(28,549)

Vessel operating expenses

​

 

(91,959)

​

 

(14,713)

​

 

(106,672)

Depreciation

​

 

(75,419)

​

 

(7,220)

​

 

(82,639)

Amortization of deferred drydocking and special survey costs

​

 

(16,640)

​

 

(6,142)

​

 

(22,782)

Interest income (excluding interest income from equity investments)

​

 

14,875

​

 

—

​

 

14,875

Interest expense and finance costs

​

 

(19,986)

​

 

—

​

 

(19,986)

Loss on debt extinguishment

​

​

(6,027)

​

​

—

​

​

(6,027)

Other segment items (2)

​

​

(29,914)

​

​

(3,210)

​

​

(33,124)

Net Income per segment

​

$

229,357

​

$

13,807

​

$

243,164

Gain on investments, dividend income, interest income from equity investments and loss on equity investments

​

 

​

​

​

​

​

 

49,072

Net Income

​

​

​

​

​

​

​

$

292,236

(1)

In the table below, the significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2)

Other segment items for each reportable segment include general and administrative expenses, other finance expenses, other (expenses)/income, net, and loss on derivatives.

​

The following table summarizes the Company’s selected balance sheet metrics as of June 30, 2026, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Container

  ​ ​ ​

Drybulk

  ​ ​ ​

​

​

​

​

vessels

​

vessels

​

​

​

Balance Sheet Metrics as of June 30, 2026

​

segment

​

segment

​

Total

​

​

(in ‘000s of US$)

Total Assets per segment

​

$

4,865,518

​

$

358,883

​

$

5,224,401

Marketable Securities (1)

​

​

​

​

​

​

​

​

223,176

Receivable from equity investments (1)

​

​

​

​

​

​

​

​

57

Total Assets

​

​

​

​

​

​

​

$

5,447,634

(1)

Reflected under “Other current assets” in the condensed consolidated balance sheet.

​

17.Segments (Continued)

The following table summarizes the Company’s selected financial information for the six months ended June 30, 2025, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Drybulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2025 (1)

  ​ ​ ​

segment

  ​ ​ ​

segment

  ​ ​ ​

Total

​

​

(in ‘000s of US$)

Operating revenues

​

$

475,636

​

$

39,825

​

$

515,461

Voyage expenses

 

​

(17,734)

 

​

(17,211)

 

​

(34,945)

Vessel operating expenses

 

​

(92,571)

 

​

(15,516)

 

​

(108,087)

Depreciation

 

​

(74,154)

 

​

(6,572)

 

​

(80,726)

Amortization of deferred drydocking and special survey costs

 

​

(18,252)

 

​

(4,233)

 

​

(22,485)

Interest income (excluding interest income from equity investments)

 

​

7,208

 

​

—

 

​

7,208

Interest expense and finance costs

 

​

(19,714)

 

​

—

 

​

(19,714)

Other segment items (2)

​

​

(25,481)

​

​

(2,569)

​

​

(28,050)

Net Income per segment

​

$

234,938

​

$

(6,276)

​

$

228,662

Gain on investments, dividend income, interest income from equity investments and loss on equity investments

​

​

​

 

​

​

​

​

17,389

Net Income

​

​

​

 

​

​

​

$

246,051

​

(1)

In the table below, the significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2)

Other segment items for each reportable segment include general and administrative expenses, other finance expenses, other (expenses)/income, net, and loss on derivatives.

​

The following table summarizes the Company’s selected balance sheet metrics as of December 31, 2025, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

​

Drybulk

​

​

​

​

​

vessels

​

​

vessels

​

​

​

Balance Sheet Metrics as of December 31, 2025

  ​ ​ ​

segment

  ​ ​ ​

 

segment

  ​ ​ ​

​

Total

​

​

(in ‘000s of US$)

Total Assets per segment

​

$

4,717,465

​

$

275,965

​

$

4,993,430

Marketable Securities (1)

​

​

​

​

​

​

​

​

120,244

Receivable from equity investments (1)

 

​

​

​

 

​

​

 

256

Total Assets

​

​

​

​

 

​

​

$

5,113,930

(1)

Reflected under “Other current assets” in the condensed consolidated balance sheet.
v3.26.1
Subsequent Events
 6 Months Ended
Jun. 30, 2026
Subsequent Events  
Subsequent Events

18.Subsequent Events

In July 2026, the Company declared a dividend of $0.90 per share of common stock payable on July 30, 2026, to holders of record on July 21, 2026.

​

In July 2026, the Company took delivery of the 8,258 TEU under-construction container vessel with Hull No. YZJ2023-1556, named Santorini Express, which commenced a long-term charter upon delivery.

​

In July 2026, the Company drew down $57.75 million under the Syndicated $850.0 mil. Facility in connection with the delivery of the newbuilding vessel Santorini Express.

​

In July 2026, the Company entered into an Amended and Restated Management Agreement with the Manager and an Amended and Restated Commercial Agency Agreement with Danaos Chartering, in each case reflecting the extension of the term from December 31, 2026 to December 31, 2027, with no change in the services provided and fees payable thereunder, as well as an Amended and Restated Restrictive Covenant Agreement with the Company’s CEO and DIL, as Trustee of the 883 Trust, to reflect the entry into the related amended and restated management agreement and commercial agency agreement.
v3.26.1
Basis of Presentation and General Information (Tables)
 6 Months Ended
Jun. 30, 2026
Basis of Presentation and General Information  
Schedule of the vessel owning companies (the "Danaos Subsidiaries")

Operating container vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Vessel Name

  ​ ​ ​

Year Built

  ​ ​ ​

TEU (1)

Megacarrier (No. 1) Corp.

​

September 10, 2007

​

Kota Peony

​

2012

​

13,100

Megacarrier (No. 2) Corp.

​

September 10, 2007

​

Kota Primrose

​

2012

​

13,100

Megacarrier (No. 3) Corp.

​

September 10, 2007

​

Kota Plumbago

​

2012

​

13,100

Megacarrier (No. 4) Corp.

​

September 10, 2007

​

Speed

​

2012

​

13,100

Megacarrier (No. 5) Corp.

​

September 10, 2007

​

Ambition

​

2012

​

13,100

CellContainer (No. 6) Corp.

​

October 31, 2007

​

Express Berlin

​

2011

​

10,100

CellContainer (No. 7) Corp.

​

October 31, 2007

​

Express Rome

​

2011

​

10,100

CellContainer (No. 8) Corp.

​

October 31, 2007

​

Express Athens

​

2011

​

10,100

Karlita Shipping Co. Ltd.

​

February 27, 2003

​

Pusan C

​

2006

​

9,580

Ramona Marine Co. Ltd.

​

February 27, 2003

​

Le Havre

​

2006

​

9,580

Oceancarrier (No. 2) Corp.

​

October 15, 2020

​

Bremen

​

2009

​

9,012

Oceancarrier (No. 3) Corp.

​

October 15, 2020

​

C Hamburg

​

2009

​

9,012

Blackwell Seaways Inc.

​

January 9, 2020

​

Niledutch Lion

​

2008

​

8,626

Oceancarrier (No.1) Corp.

​

February 19, 2020

​

Kota Manzanillo

​

2005

​

8,533

Springer Shipping Co.

​

April 29, 2019

​

Belita

​

2006

​

8,533

Teucarrier (No. 1) Corp.

​

January 31, 2007

​

CMA CGM Attila

​

2011

​

8,530

Teucarrier (No. 2) Corp.

​

January 31, 2007

​

CMA CGM Tancredi

​

2011

​

8,530

Teucarrier (No. 3) Corp.

​

January 31, 2007

​

CMA CGM Bianca

​

2011

​

8,530

Teucarrier (No. 4) Corp.

​

January 31, 2007

​

CMA CGM Samson

​

2011

​

8,530

Teucarrier (No. 5) Corp.

​

September 17, 2007

​

CMA CGM Melisande

​

2012

​

8,530

Oceanew Shipping Ltd.

​

January 14, 2002

​

Europe

​

2004

​

8,468

Oceanprize Navigation Ltd.

​

January 21, 2003

​

America

​

2004

​

8,468

Rewarding International Shipping Inc.

​

October 1, 2019

​

Kota Santos

​

2005

​

8,463

Teushipper (No 1) Corp.

​

March 14, 2022

​

Catherine C

​

2024

​

8,010

Teushipper (No 2) Corp.

​

March 14, 2022

​

Greenland

​

2024

​

8,010

Teushipper (No 3) Corp.

​

March 14, 2022

​

Greenville

​

2024

​

8,010

Teushipper (No 4) Corp.

​

March 14, 2022

​

Greenfield

​

2024

​

8,010

Boxsail (No. 1) Corp

​

March 4, 2022

​

Interasia Accelerate

​

2024

​

7,165

Boxsail (No. 2) Corp

​

March 4, 2022

​

Interasia Amplify

​

2024

​

7,165

Boxcarrier (No. 1) Corp.

​

June 27, 2006

​

CMA CGM Moliere

​

2009

​

6,500

Boxcarrier (No. 2) Corp.

​

June 27, 2006

​

CMA CGM Musset

​

2010

​

6,500

Boxcarrier (No. 3) Corp.

​

June 27, 2006

​

CMA CGM Nerval

​

2010

​

6,500

Boxcarrier (No. 4) Corp.

​

June 27, 2006

​

CMA CGM Rabelais

​

2010

​

6,500

Boxcarrier (No. 5) Corp.

​

June 27, 2006

​

Racine

​

2010

​

6,500

Expresscarrier (No. 1) Corp.

​

March 5, 2007

​

YM Mandate

​

2010

​

6,500

Expresscarrier (No. 2) Corp.

​

March 5, 2007

​

YM Maturity

​

2010

​

6,500

Actaea Company Limited

​

October 14, 2014

​

Savannah

​

2002

​

6,402

Asteria Shipping Company Limited

​

October 14, 2014

​

Dimitra C

​

2002

​

6,402

Boxsail (No. 3) Corp.

​

March 4, 2022

​

Phoebe(2)

​

2025

​

6,014

Boxsail (No. 4) Corp.

​

March 4, 2022

​

Greenhouse(2)

​

2025

​

6,014

Averto Shipping S.A.

​

June 12, 2015

​

Suez Canal

​

2002

​

5,610

Sinoi Marine Ltd.

​

June 12, 2015

​

Kota Lima

​

2002

​

5,544

Oceancarrier (No. 4) Corp.

​

July 6, 2021

​

Wide Alpha

​

2014

​

5,466

Oceancarrier (No. 5) Corp.

​

July 6, 2021

​

Stephanie C

​

2014

​

5,466

Oceancarrier (No. 6) Corp.

​

July 6, 2021

​

Euphrates

​

2014

​

5,466

Oceancarrier (No. 7) Corp.

​

July 6, 2021

​

Wide Hotel

​

2015

​

5,466

Oceancarrier (No. 8) Corp.

​

July 6, 2021

​

Wide India

​

2015

​

5,466

Oceancarrier (No. 9) Corp.

​

July 6, 2021

​

Wide Juliet

​

2015

​

5,466

Continent Marine Inc.

​

March 22, 2006

​

Monaco

​

2009

​

4,253

Medsea Marine Inc.

​

May 8, 2006

​

Dalian

​

2009

​

4,253

Blacksea Marine Inc.

​

May 8, 2006

​

Jamaica (ex Luanda)

​

2009

​

4,253

Bayview Shipping Inc.

​

March 22, 2006

​

Rio Grande

​

2008

​

4,253

Channelview Marine Inc.

​

March 22, 2006

​

Merve A (tbr Paolo)

​

2008

​

4,253

Balticsea Marine Inc.

​

March 22, 2006

​

Kingston

​

2008

​

4,253

Seacarriers Services Inc.

​

June 28, 2005

​

Seattle C

​

2007

​

4,253

Seacarriers Lines Inc.

​

June 28, 2005

​

Vancouver

​

2007

​

4,253

Containers Services Inc.

​

May 30, 2002

​

Tongala

​

2004

​

4,253

Containers Lines Inc.

​

May 30, 2002

​

Derby D

​

2004

​

4,253

Boulevard Shiptrade S.A

​

September 12, 2013

​

Dimitris C

​

2001

​

3,430

Wellington Marine Inc.

​

January 27, 2005

​

Singapore

​

2004

​

3,314

Auckland Marine Inc.

​

January 27, 2005

​

Colombo

​

2004

​

3,314

CellContainer (No. 4) Corp.

​

March 23, 2007

​

Express Spain

​

2011

​

3,400

CellContainer (No. 5) Corp.

​

March 23, 2007

​

Express Black Sea

​

2011

​

3,400

CellContainer (No. 1) Corp.

​

March 23, 2007

​

Express Argentina

​

2010

​

3,400

CellContainer (No. 2) Corp.

​

March 23, 2007

​

Express Brazil

​

2010

​

3,400

CellContainer (No. 3) Corp.

​

March 23, 2007

​

Express France

​

2010

​

3,400

Vilos Navigation Company Ltd.

​

May 30, 2013

​

Zebra

​

2001

​

2,602

Sarond Shipping Inc.

​

January 18, 2013

​

Artotina

​

2001

​

2,524

Speedcarrier (No. 7) Corp.

​

December 6, 2007

​

Highway

​

1998

​

2,200

Speedcarrier (No. 6) Corp.

​

December 6, 2007

​

Progress C

​

1998

​

2,200

Speedcarrier (No. 8) Corp.

​

December 6, 2007

​

Bridge

​

1998

​

2,200

Speedcarrier (No. 1) Corp.

​

June 28, 2007

​

Phoenix D

​

1997

​

2,200

Speedcarrier (No. 2) Corp.

​

June 28, 2007

​

Advance

​

1997

​

2,200

Speedcarrier (No. 5) Corp.

​

June 28, 2007

​

Future

​

1997

​

2,200

Speedcarrier (No. 4) Corp.

​

June 28, 2007

​

Sprinter

​

1997

​

2,200

​

​

​

​

​

​

Total TEU

​

477,491

(1)Twenty-feet equivalent unit, the international standard measure for containers and container vessels capacity.
(2)The vessels Phoebe and Greenhouse were delivered to the Company in 2025.

Under construction container vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expected

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Hull No.

  ​ ​ ​

Delivery (2)

  ​ ​ ​

TEU (1)

Boxline (No. 1) Corp.

​

June 7, 2023

​

YZJ2023-1556 (6)

​

Q3 2026

​

8,258

Boxline (No. 2) Corp.

​

June 7, 2023

​

YZJ2023-1557

​

Q3 2026

​

8,258

Boxline (No. 3) Corp.

​

February 2, 2024

​

YZJ2024-1612

​

Q3 2026

​

8,258

Boxsail (No. 5) Corp.

​

June 13, 2024

​

C9200-7

​

Q1 2027

​

9,200

Boxsail (No. 6) Corp.

​

June 13, 2024

​

C9200-8

​

Q2 2027

​

9,200

Boxline (No. 8) Corp

​

June 6, 2025

​

CV5900-09

​

Q2 2027

​

6,014

Boxline (No. 4) Corp.

​

February 2, 2024

​

YZJ2024-1613

​

Q2 2027

​

8,258

Boxline (No. 5) Corp.

​

March 8, 2024

​

YZJ2024-1625

​

Q2 2027

​

8,258

Conbulk Newb I Inc. (4)

​

January 14, 2026

​

NGY0041 (5)

​

Q2 2027

​

5,000

Conbulk Newb II Inc. (4)

​

January 14, 2026

​

NGY0042 (5)

​

Q3 2027

​

5,000

Boxline (No. 6) Corp.

​

March 8, 2024

​

YZJ2024-1626

​

Q3 2027

​

8,258

Boxline (No. 7) Corp.

​

May 30, 2024

​

YZJ2024-1668

​

Q3 2027

​

8,258

Boxsail (No. 10) Corp.

​

June 13, 2024

​

H2596

​

Q3 2027

​

9,200

Boxline (No. 9) Corp.

​

July 25, 2025

​

C7100-9

​

Q3 2027

​

7,165

Boxline (No. 10) Corp.

​

August 26, 2025

​

C7100-10

​

Q3 2027

​

7,165

Boxsail (No. 7) Corp.

​

June 13, 2024

​

C9200-9

​

Q4 2027

​

9,200

Boxsail (No. 11) Corp.

​

June 13, 2024

​

H2597

​

Q4 2027

​

9,200

Boxline (No. 11) Corp.

​

November 24, 2025

​

S1162

​

Q4 2027

​

1,800

Boxline (No. 12) Corp.

​

November 24, 2025

​

S1163

​

Q1 2028

​

1,800

Boxsail (No. 8) Corp.

​

June 13, 2024

​

C9200-10

​

Q2 2028

​

9,200

Boxline (No. 13) Corp.

​

November 24, 2025

​

S1164

​

Q2 2028

​

1,800

Boxsail (No. 9) Corp.

​

June 13, 2024

​

C9200-11

​

Q3 2028

​

9,200

Boxline (No. 14) Corp.

​

November 24, 2025

​

S1165

​

Q3 2028

​

1,800

Boxline (No. 15) Corp.

​

November 24, 2025

​

S1166

​

Q4 2028

​

1,800

Boxsail (No. 12) Corp.

​

December 3, 2025

​

H2638

​

Q4 2028

​

5,300

Boxline (No. 16) Corp.

​

November 24, 2025

​

S1167

​

Q1 2029

​

1,800

Boxsail (No. 13) Corp.

​

December 3, 2025

​

H2639

​

Q1 2029

​

5,300

Boxsail (No. 14) Corp.

​

December 3, 2025

​

H2640 (3)

​

Q1 2029

​

5,300

Boxsail (No. 15) Corp.

​

December 3, 2025

​

H2641 (3)

​

Q2 2029

​

5,300

​

​

​

​

​

​

Total TEU

​

184,550

(1)Twenty-feet equivalent unit, the international standard measure for containers and container vessels capacity.
(2)Under construction container vessels’ expected delivery dates were sorted based on the upcoming deliveries.
(3)Under construction containership vessels were added to our orderbook in the first quarter of 2026.
(4)The Company owns 95% of the equity interests.
(5)Under construction containership vessels were added to our orderbook in the second quarter of 2026.
(6)The vessel under construction was delivered to the Company in July 2026, and was named Santorini Express (Note 18).
Schedule of Dry Bulk Vessels

Operating Capesize drybulk carrier vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Vessel Name

  ​ ​ ​

Year Built (2)

  ​ ​ ​

DWT (1)

Bulk No. 4 Corp.

​

July 14, 2023

​

Genius

​

2012

​

175,580

Bulk No. 2 Corp.

​

July 14, 2023

​

Achievement

​

2011

​

175,966

Bulk No. 3 Corp.

​

July 14, 2023

​

Ingenuity

​

2011

​

176,022

Bulk No. 8 Corp.

​

January 31, 2024

​

Danaos

​

2011

​

176,536

Bulk No. 10 Corp.

​

February 15, 2024

​

Valentine

​

2011

​

175,125

Bulk No. 1 Corp.

​

July 14, 2023

​

Integrity

​

2010

​

175,966

Bulk No. 5 Corp.

​

July 14, 2023

​

Peace

​

2010

​

175,858

Bulk No. 9 Corp.

​

February 2, 2024

​

Gouverneur

​

2010

​

178,043

Bulk No. 6 Corp.

​

September 15, 2023

​

W Trader

​

2009

​

175,879

Bulk No. 7 Corp.

​

September 25, 2023

​

E Trader

​

2009

​

175,886

Bulk No. 11 Corp.

​

October 6, 2025

​

John Junior (ex. Hebei No.1) (3)

​

2009

​

182,425

​

​

​

​

​

​

Total DWT

​

1,943,286

(1)DWT, dead weight tons, the international standard measure for drybulk vessels capacity.
(2)Capesize drybulk carrier vessels are sorted by their year built, from newest to oldest.
(3)The vessel was delivered to the Company in March 2026 (Note 3).

Under construction Newcastlemax drybulk vessels as of June 30, 2026:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expected

​

​

Company

  ​ ​ ​

Date of Incorporation

  ​ ​ ​

Hull No.

  ​ ​ ​

Delivery (2)

  ​ ​ ​

DWT (1)

Bulk No.12 Corp.

​

October 7, 2025

 

DJCFD010 (3)

 

Q2 2028

 

211,000

Bulk No.14 Corp.

​

February 16, 2026

 

DJCFD016 (3)

 

Q3 2028

 

211,000

Bulk No.13 Corp.

​

January 27, 2026

 

DJCFD011 (3)

 

Q4 2028

 

211,000

Bulk No.15 Corp.

​

February 16, 2026

​

DJCFD017 (3)

 

Q4 2028

 

211,000

​

​

​

​

​

​

Total DWT

​

844,000

(1)DWT, dead weight tons, the international standard measure for drybulk vessels capacity.
(2)Under construction drybulk vessels’ expected delivery dates were sorted based on the upcoming deliveries.
(3)Under construction drybulk vessels were added to our orderbook in the first quarter of 2026.
v3.26.1
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition (Tables)
 6 Months Ended
Jun. 30, 2026
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition  
Schedule of fixed assets, net

Fixed assets, net consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Vessel

  ​ ​ ​

Accumulated

  ​ ​ ​

Net Book

​

​

Costs

​

Depreciation

​

Value

As of January 1, 2026

​

$

4,892,047

​

$

(1,622,344)

​

$

3,269,703

Additions and vessel acquisition

​

 

25,466

​

 

—

​

 

25,466

Vessel upgrades and other vessel costs

​

​

1,655

​

​

—

​

​

1,655

Depreciation

​

 

—

​

 

(82,639)

​

 

(82,639)

As of June 30, 2026

​

$

4,919,168

​

$

(1,704,983)

​

$

3,214,185
Schedule of remaining contractual commitments of the remaining 16 vessel construction contracts

​

​

​

​

​

Payments due by twelve month period ending:

  ​ ​ ​

in ‘000s of US$

June 30, 2027

​

$

805,115

June 30, 2028

​

 

646,865

June 30, 2029

​

 

355,171

Total contractual commitments

​

$

1,807,151
v3.26.1
Deferred Charges, net (Tables)
 6 Months Ended
Jun. 30, 2026
Deferred Charges, net  
Schedule of deferred charges, net

Deferred charges, net consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

Drydocking and

​

  ​ ​ ​

Special Survey Costs

As of January 1, 2025

​

$

58,759

Additions

​

​

39,671

Amortization

​

 

(44,074)

As of December 31, 2025

​

$

54,356

Additions

​

 

22,895

Write-off

​

 

(1,773)

Amortization

​

​

(21,009)

As of June 30, 2026

​

$

54,469
v3.26.1
Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments.  
Schedule of investments under current assets and non-current assets

Investments under current assets and non-current assets consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

As of

  ​ ​ ​

As of

Current Assets

​

Balance Sheet Location

​

June 30, 2026

​

December 31, 2025

Marketable securities

 

Investments, Current

 

$

223,176

​

$

120,244

Total

 

  ​

​

$

223,176

​

$

120,244

​

​

​

​

​

​

​

​

​

​

​

​

​

As of

​

As of

Non-current Assets

​

​

​

June 30, 2026

​

December 31, 2025

Equity Investment in Alaska LNG project

 

Investments, Non-current

​

$

12,388

​

$

—

Total

 

  ​

​

$

12,388

​

$

—
v3.26.1
Other Current and Non-current Assets (Tables)
 6 Months Ended
Jun. 30, 2026
Other Current and Non-current Assets  
Schedule of other current and non current assets

Other current and non-current assets consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

As of

​

As of

Other Current Assets

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Straight-lining of revenue

​

$

21,986

​

$

24,828

Claims receivable

​

​

9,023

​

​

9,978

Other current assets

​

​

9,175

​

​

16,087

Total other current assets

​

$

40,184

​

$

50,893

​

​

​

​

​

​

​

​

​

As of

​

As of

Other Non-current Assets

​

June 30, 2026

​

December 31, 2025

Straight-lining of revenue

​

$

17,464

​

$

30,144

EUAs & Fuel EUs

​

​

12,353

​

​

—

Other non-current assets

​

​

17,396

​

​

12,161

Total other non-current assets

​

$

47,213

​

$

42,305
v3.26.1
Accrued Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Accrued Liabilities  
Schedule of accrued liabilities

Accrued liabilities consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

  ​ ​ ​

As of

  ​ ​ ​

As of

​

​

June 30, 2026

​

December 31, 2025

Accrued interest

​

$

13,596

​

$

16,402

Accrued dry-docking expenses

​

​

4,794

​

​

2,594

Accrued expenses

​

​

15,568

​

 

9,776

Total

​

$

33,958

​

$

28,772
v3.26.1
Other Current and Long-term Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Other Current and Long-term Liabilities  
Schedule of other current and long-term liabilities

Other current and long-term liabilities consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

  ​ ​ ​

As of

  ​ ​ ​

As of

Other Current Liabilities

​

June 30, 2026

​

December 31, 2025

Straight-lining of revenue

​

$

15,673

​

$

15,494

EUAs & Fuel EUs

​

 

17,741

​

 

20,496

Total other current liabilities

​

$

33,414

​

$

35,990

​

​

​

​

​

​

​

​

​

  ​ ​ ​

As of

  ​ ​ ​

As of

Other Long-term Liabilities

​

June 30, 2026

​

December 31, 2025

Straight-lining of revenue

​

$

23,099

​

$

20,496

EUAs & Fuel EUs

​

 

12,410

​

 

—

Other non-current liabilities

​

 

21,739

​

 

21,487

Total other long-term liabilities

​

$

57,248

​

$

41,983

​
v3.26.1
Long-Term Debt, net (Tables)
 6 Months Ended
Jun. 30, 2026
Long-Term Debt, net  
Schedule of long-term debt, net

Long-term debt, net consisted of the following (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

As of

​

As of

Credit Facility

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Syndicated $450.0 mil. Facility

​

$

—

​

$

335,210

Citibank $382.5 mil. Revolving Credit Facility

​

​

—

​

​

—

Syndicated $850.0 mil. Facility

​

​

—

​

​

—

JOLCO Facilities

​

​

732,725

​

​

79,806

KfW $132.0 mil. Facility

​

​

—

​

​

—

Senior unsecured notes

​

​

500,000

​

​

762,766

Total long-term debt

​

$

1,232,725

​

$

1,177,782

Less: Deferred finance costs (long term portion)

​

​

(19,016)

​

​

(17,032)

Less: Unamortized debt discount

​

​

(2,989)

​

​

(3,226)

Less: Current portion, gross of deferred finance costs

​

​

(26,629)

​

​

(285,448)

Total long-term debt net of current portion and long term portion of deferred finance costs

​

$

1,184,091

​

$

872,076
Schedule of JOLCO facilities

Below is a summary of JOLCO facilities (amounts in millions of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

​

  ​ ​ ​

Facility

  ​ ​ ​

Balance as of

Vessel/Hull No.

​

Signing Date

​

Drawdown Date

​

Amount

​

June 30, 2026

Phoebe

 

October 2025

​

October 2025

​

$

80.0

​

$

78.6

Greenhouse

 

December 2025

​

January 2026

​

$

80.0

​

$

79.1

Interasia Accelerate

 

March 2026

​

March 2026

​

$

85.5

​

$

84.5

Interasia Amplify

 

March 2026

​

March 2026

​

$

85.5

​

$

84.5

Catherine C

 

March 2026

​

March 2026

​

$

100.0

​

$

99.4

Greenland

 

March 2026

​

April 2026

​

$

100.0

​

$

99.6

Greenville

 

March 2026

​

June 2026

​

$

103.5

​

$

103.5

Greenfield

 

March 2026

​

June 2026

​

$

103.5

​

$

103.5

CV5900-09

 

May 2026

​

May 2027(1)

​

$

68.0

​

$

—

C7100-9

 

May 2026

​

July 2027(1)

​

$

84.0

​

$

—

C7100-10

 

May 2026

​

August 2027(1)

​

$

84.0

​

$

—

​

​

​

​

​

​

​

​

​

$

732.7

(1)

The undrawn facility amount is subject to customary conditions precedent to drawdown under the respective agreement.
Schedule of debt maturities of long-term debt

The scheduled debt maturities of long-term debt subsequent to June 30, 2026 are as follows (in thousands of US$):

​

​

​

​

​

​

​

Principal

Payments due by twelve month period ending:

  ​ ​ ​

repayments

June 30, 2027

​

$

26,629

June 30, 2028

​

​

31,249

June 30, 2029

​

​

33,134

June 30, 2030

​

​

35,041

June 30, 2031

​

​

37,058

June 30, 2032 and thereafter

​

​

1,069,614

Total long-term debt

​

$

1,232,725
Schedule of Interest and finance costs

The amounts of “Interest and finance costs” included in the condensed consolidated income statements are analyzed as follows (in thousands of US$):

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended June 30,

​

​

2026

​

​

2025

Interest on secured and unsecured credit facilities

​

$

34,541

​

$

27,437

Less: Interest capitalized

​

 

(16,320)

​

 

(9,268)

Amortization of debt issuance costs & debt discount

​

 

1,765

​

 

1,545

Interest and finance costs

​

$

19,986

​

$

19,714
v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Financial Instruments  
Schedule of estimated fair values of the Company's financial instruments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of June 30, 2026

​

As of December 31, 2025

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Book Value

  ​ ​ ​

Fair Value

  ​ ​ ​

Book Value

  ​ ​ ​

Fair Value

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

Cash and cash equivalents

​

$

1,008,268

​

$

1,008,268

​

$

1,037,292

​

$

1,037,292

Marketable securities

​

Investments, Current

​

$

223,176

​

$

223,176

​

$

120,244

​

$

120,244

LIABILITIES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Secured long-term debt, including current portion (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

732,725

​

$

732,725

​

$

415,016

​

$

415,016

Unsecured long-term debt (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

500,000

​

$

518,125

​

$

762,766

​

$

782,269
Schedule of estimated fair value of the financial instruments that are measured at fair value on a recurring basis, categorized based upon the fair value hierarchy

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Fair Value Measurements as of June 30, 2026

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

(Level II)

  ​ ​ ​

(Level III)

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Marketable securities

​

Investments, Current

​

$

223,176

​

$

223,176

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2025

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

(Level II)

  ​ ​ ​

(Level III)

​

​

​

 

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Marketable securities

​

Investments, Current

​

$

120,244

​

$

120,244

​

$

—

​

$

—
Schedule of estimated fair value of the financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of June 30, 2026

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

 (Level II)

  ​ ​ ​

(Level III)

​

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

Cash and cash equivalents

​

$

1,008,268

​

$

1,008,268

​

$

—

​

$

—

LIABILITIES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Secured long-term debt, including current portion (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

732,725

​

$

—

​

$

732,725

​

$

—

Unsecured long-term debt (1)

​

Long-term debt, net

​

$

518,125

​

$

518,125

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2025

​

  ​ ​ ​

Balance Sheet Location

  ​ ​ ​

Total

  ​ ​ ​

(Level I)

  ​ ​ ​

(Level II)

  ​ ​ ​

(Level III)

​

​

​

​

(in ‘000s of US$)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

Cash and cash equivalents

​

$

1,037,292

​

$

1,037,292

​

$

—

​

$

—

LIABILITIES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Secured long-term debt, including current portion (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

415,016

​

$

—

​

$

415,016

​

$

—

Unsecured long-term debt (1)

​

Current portion of long-term debt, net & Long-term debt, net

​

$

782,269

​

$

782,269

​

$

—

​

$

—

(1)Secured and unsecured long-term debt, including current portion is presented gross of deferred finance costs and debt discount of $22.0 million and $22.7 million (current and non current portions) as of June 30, 2026 and December 31, 2025, respectively. The fair value of the Company’s secured debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities.
v3.26.1
Lease Arrangements (Tables)
 6 Months Ended
Jun. 30, 2026
Lease Arrangements  
Schedule of future minimum payments, expected to be received on non-cancellable time charters and bareboat charters

​

The future minimum payments, expected to be received on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of June 30, 2026 (in thousands of US$):

​

​

​

​

​

Period

​

​

in ‘000s of US$

2026 (remaining)

  ​ ​ ​

$

506,546

2027

 

​

967,838

2028

 

​

857,583

2029

 

​

681,556

2030

​

​

493,088

2031 and thereafter

 

​

801,033

Total future rentals

​

$

4,307,644
v3.26.1
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings per Share  
Schedule of computation of basic and diluted earnings per share

​

​

​

​

​

​

​

​

​

​

Three months ended June 30,

​

  ​ ​ ​

2026

  ​ ​ ​

2025

Numerator:

​

​

​

​

​

​

Net income (in thousands of US$)

​

$

151,815

​

$

130,904

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

​

​

​

​

​

Basic weighted average common shares outstanding

​

 

18,204

​

 

18,344

Effect of dilutive securities:

​

 

​

​

 

​

Dilutive effect of non-vested shares

​

 

52

​

 

52

Diluted weighted average common shares outstanding

​

 

18,256

​

 

18,396

Basic earnings per share (in US$ per share)

​

$

8.34

​

$

7.14

Diluted earnings per share (in US$ per share)

​

$

8.32

​

$

7.12

​

​

​

​

​

​

​

​

​

​

Six months ended June 30,

​

  ​ ​ ​

2026

  ​ ​ ​

2025

Numerator:

​

​

​

​

​

​

Net income (in thousands of US$)

​

$

292,236

​

$

246,051

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

 

​

​

 

​

Basic weighted average common shares outstanding

​

​

18,207

​

​

18,546

Effect of dilutive securities:

​

​

​

​

​

​

Dilutive effect of non-vested shares

​

​

38

​

​

42

Diluted weighted average common shares outstanding

​

​

18,245

​

​

18,588

Basic earnings per share (in US$ per share)

​

$

16.05

​

$

13.27

Diluted earnings per share (in US$ per share)

​

$

16.02

​

$

13.24

​
v3.26.1
Operating Revenue (Tables)
 6 Months Ended
Jun. 30, 2026
Operating Revenue  
Schedule of operating revenue from time charters and bareboat charters and voyage charters

​

​

​

​

​

​

​

​

​

​

Six months ended June 30,

​

  ​ ​ ​

2026

  ​ ​ ​

2025

Time charters and bareboat charters

​

$

501,286

​

$

488,717

Voyage charters

​

 

26,782

​

 

26,744

Total Operating Revenue

​

$

528,068

​

$

515,461
v3.26.1
Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segments  
Schedule of the company's selected financial information

The following table summarizes the Company’s selected financial information for the six months ended June 30, 2026, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Drybulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2026 (1)

  ​ ​ ​

segment

  ​ ​ ​

segment

  ​ ​ ​

Total

​

​

(in ‘000s of US$)

Operating revenues

​

$

468,200

​

$

59,868

​

$

528,068

Voyage expenses

​

 

(13,773)

​

 

(14,776)

​

 

(28,549)

Vessel operating expenses

​

 

(91,959)

​

 

(14,713)

​

 

(106,672)

Depreciation

​

 

(75,419)

​

 

(7,220)

​

 

(82,639)

Amortization of deferred drydocking and special survey costs

​

 

(16,640)

​

 

(6,142)

​

 

(22,782)

Interest income (excluding interest income from equity investments)

​

 

14,875

​

 

—

​

 

14,875

Interest expense and finance costs

​

 

(19,986)

​

 

—

​

 

(19,986)

Loss on debt extinguishment

​

​

(6,027)

​

​

—

​

​

(6,027)

Other segment items (2)

​

​

(29,914)

​

​

(3,210)

​

​

(33,124)

Net Income per segment

​

$

229,357

​

$

13,807

​

$

243,164

Gain on investments, dividend income, interest income from equity investments and loss on equity investments

​

 

​

​

​

​

​

 

49,072

Net Income

​

​

​

​

​

​

​

$

292,236

(1)

In the table below, the significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2)

Other segment items for each reportable segment include general and administrative expenses, other finance expenses, other (expenses)/income, net, and loss on derivatives.

​

The following table summarizes the Company’s selected balance sheet metrics as of June 30, 2026, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Container

  ​ ​ ​

Drybulk

  ​ ​ ​

​

​

​

​

vessels

​

vessels

​

​

​

Balance Sheet Metrics as of June 30, 2026

​

segment

​

segment

​

Total

​

​

(in ‘000s of US$)

Total Assets per segment

​

$

4,865,518

​

$

358,883

​

$

5,224,401

Marketable Securities (1)

​

​

​

​

​

​

​

​

223,176

Receivable from equity investments (1)

​

​

​

​

​

​

​

​

57

Total Assets

​

​

​

​

​

​

​

$

5,447,634

(1)

Reflected under “Other current assets” in the condensed consolidated balance sheet.

The following table summarizes the Company’s selected financial information for the six months ended June 30, 2025, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Drybulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2025 (1)

  ​ ​ ​

segment

  ​ ​ ​

segment

  ​ ​ ​

Total

​

​

(in ‘000s of US$)

Operating revenues

​

$

475,636

​

$

39,825

​

$

515,461

Voyage expenses

 

​

(17,734)

 

​

(17,211)

 

​

(34,945)

Vessel operating expenses

 

​

(92,571)

 

​

(15,516)

 

​

(108,087)

Depreciation

 

​

(74,154)

 

​

(6,572)

 

​

(80,726)

Amortization of deferred drydocking and special survey costs

 

​

(18,252)

 

​

(4,233)

 

​

(22,485)

Interest income (excluding interest income from equity investments)

 

​

7,208

 

​

—

 

​

7,208

Interest expense and finance costs

 

​

(19,714)

 

​

—

 

​

(19,714)

Other segment items (2)

​

​

(25,481)

​

​

(2,569)

​

​

(28,050)

Net Income per segment

​

$

234,938

​

$

(6,276)

​

$

228,662

Gain on investments, dividend income, interest income from equity investments and loss on equity investments

​

​

​

 

​

​

​

​

17,389

Net Income

​

​

​

 

​

​

​

$

246,051

​

(1)

In the table below, the significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2)

Other segment items for each reportable segment include general and administrative expenses, other finance expenses, other (expenses)/income, net, and loss on derivatives.

​

The following table summarizes the Company’s selected balance sheet metrics as of December 31, 2025, by segment (in thousands of US$):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

​

Drybulk

​

​

​

​

​

vessels

​

​

vessels

​

​

​

Balance Sheet Metrics as of December 31, 2025

  ​ ​ ​

segment

  ​ ​ ​

 

segment

  ​ ​ ​

​

Total

​

​

(in ‘000s of US$)

Total Assets per segment

​

$

4,717,465

​

$

275,965

​

$

4,993,430

Marketable Securities (1)

​

​

​

​

​

​

​

​

120,244

Receivable from equity investments (1)

 

​

​

​

 

​

​

 

256

Total Assets

​

​

​

​

 

​

​

$

5,113,930

(1)

Reflected under “Other current assets” in the condensed consolidated balance sheet.
v3.26.1
Basis of Presentation and General Information (Details)
 6 Months Ended
Jun. 30, 2026
item
$ / shares
shares
Dec. 31, 2025
$ / shares
shares
Property, Plant and Equipment    
Common stock, authorized capital stock (in shares) | shares 750,000,000 750,000,000
Common stock, par value (in dollars per share) | $ / shares $ 0.01 $ 0.01
Preferred stock, authorized capital stock (in shares) | shares 100,000,000 100,000,000
Preferred stock, par value (in dollars per share) | $ / shares $ 0.01 $ 0.01
Number of vessels owned 75  
Number of vessels under construction 29  
TEU 477,491  
TEU of vessels contracted for construction 184,550  
Number of vessels acquired 11  
Number of vessels contracted for construction 4  
Kota Peony    
Property, Plant and Equipment    
TEU 13,100  
Kota Primrose    
Property, Plant and Equipment    
TEU 13,100  
Kota Plumbago    
Property, Plant and Equipment    
TEU 13,100  
Speed    
Property, Plant and Equipment    
TEU 13,100  
Ambition    
Property, Plant and Equipment    
TEU 13,100  
Express Berlin    
Property, Plant and Equipment    
TEU 10,100  
Express Rome    
Property, Plant and Equipment    
TEU 10,100  
Express Athens    
Property, Plant and Equipment    
TEU 10,100  
Pusan C    
Property, Plant and Equipment    
TEU 9,580  
Le Havre    
Property, Plant and Equipment    
TEU 9,580  
Bremen    
Property, Plant and Equipment    
TEU 9,012  
C Hamburg    
Property, Plant and Equipment    
TEU 9,012  
Niledutch Lion    
Property, Plant and Equipment    
TEU 8,626  
Kota Manzanillo    
Property, Plant and Equipment    
TEU 8,533  
Belita    
Property, Plant and Equipment    
TEU 8,533  
CMA CGM Attila    
Property, Plant and Equipment    
TEU 8,530  
CMA CGM Tancredi    
Property, Plant and Equipment    
TEU 8,530  
CMA CGM Bianca    
Property, Plant and Equipment    
TEU 8,530  
CMA CGM Samson    
Property, Plant and Equipment    
TEU 8,530  
CMA CGM Melisande    
Property, Plant and Equipment    
TEU 8,530  
Europe    
Property, Plant and Equipment    
TEU 8,468  
America    
Property, Plant and Equipment    
TEU 8,468  
Kota Santos    
Property, Plant and Equipment    
TEU 8,463  
Catherine C    
Property, Plant and Equipment    
TEU 8,010  
Greenland    
Property, Plant and Equipment    
TEU 8,010  
Greenville    
Property, Plant and Equipment    
TEU 8,010  
Greenfield    
Property, Plant and Equipment    
TEU 8,010  
Interasia Accelerate    
Property, Plant and Equipment    
TEU 7,165  
Interasia Amplify    
Property, Plant and Equipment    
TEU 7,165  
CMA CGM Moliere    
Property, Plant and Equipment    
TEU 6,500  
CMA CGM Musset    
Property, Plant and Equipment    
TEU 6,500  
CMA CGM Nerval    
Property, Plant and Equipment    
TEU 6,500  
CMA CGM Rabelais    
Property, Plant and Equipment    
TEU 6,500  
Racine    
Property, Plant and Equipment    
TEU 6,500  
YM Mandate    
Property, Plant and Equipment    
TEU 6,500  
YM Maturity    
Property, Plant and Equipment    
TEU 6,500  
Savannah    
Property, Plant and Equipment    
TEU 6,402  
Dimitra C    
Property, Plant and Equipment    
TEU 6,402  
Phoebe    
Property, Plant and Equipment    
TEU 6,014  
Greenhouse    
Property, Plant and Equipment    
TEU 6,014  
Suez Canal    
Property, Plant and Equipment    
TEU 5,610  
Kota Lima    
Property, Plant and Equipment    
TEU 5,544  
Wide Alpha    
Property, Plant and Equipment    
TEU 5,466  
Stephanie C    
Property, Plant and Equipment    
TEU 5,466  
Euphrates    
Property, Plant and Equipment    
TEU 5,466  
Wide Hotel    
Property, Plant and Equipment    
TEU 5,466  
Wide India    
Property, Plant and Equipment    
TEU 5,466  
Wide Juliet    
Property, Plant and Equipment    
TEU 5,466  
Monaco    
Property, Plant and Equipment    
TEU 4,253  
Dalian    
Property, Plant and Equipment    
TEU 4,253  
Jamaica (ex Luanda)    
Property, Plant and Equipment    
TEU 4,253  
Rio Grande    
Property, Plant and Equipment    
TEU 4,253  
Merve A (tbr Paolo)    
Property, Plant and Equipment    
TEU 4,253  
Kingston.    
Property, Plant and Equipment    
TEU 4,253  
Seattle C    
Property, Plant and Equipment    
TEU 4,253  
Vancouver    
Property, Plant and Equipment    
TEU 4,253  
Tongala    
Property, Plant and Equipment    
TEU 4,253  
Derby D    
Property, Plant and Equipment    
TEU 4,253  
Dimitris C    
Property, Plant and Equipment    
TEU 3,430  
Singapore    
Property, Plant and Equipment    
TEU 3,314  
Colombo    
Property, Plant and Equipment    
TEU 3,314  
Express Spain    
Property, Plant and Equipment    
TEU 3,400  
Express Black Sea    
Property, Plant and Equipment    
TEU 3,400  
Express Argentina    
Property, Plant and Equipment    
TEU 3,400  
Express Brazil    
Property, Plant and Equipment    
TEU 3,400  
Express France    
Property, Plant and Equipment    
TEU 3,400  
Zebra    
Property, Plant and Equipment    
TEU 2,602  
Artotina    
Property, Plant and Equipment    
TEU 2,524  
Highway    
Property, Plant and Equipment    
TEU 2,200  
Progress C    
Property, Plant and Equipment    
TEU 2,200  
Bridge    
Property, Plant and Equipment    
TEU 2,200  
Phoenix D    
Property, Plant and Equipment    
TEU 2,200  
Advance    
Property, Plant and Equipment    
TEU 2,200  
Future    
Property, Plant and Equipment    
TEU 2,200  
Sprinter    
Property, Plant and Equipment    
TEU 2,200  
Hull No. YZJ2023-1556    
Property, Plant and Equipment    
TEU of vessels contracted for construction 8,258  
Hull No. YZJ2023-1557    
Property, Plant and Equipment    
TEU of vessels contracted for construction 8,258  
Hull No. Yzj 2024-1612    
Property, Plant and Equipment    
TEU of vessels contracted for construction 8,258  
Hull No. C9200-7    
Property, Plant and Equipment    
TEU of vessels contracted for construction 9,200  
Hull No. C9200-8    
Property, Plant and Equipment    
TEU of vessels contracted for construction 9,200  
Hull No. CV5900-09    
Property, Plant and Equipment    
TEU of vessels contracted for construction 6,014  
Hull No. Yzj 2024-1613    
Property, Plant and Equipment    
TEU of vessels contracted for construction 8,258  
Hull No. Yzj 2024-1625    
Property, Plant and Equipment    
TEU of vessels contracted for construction 8,258  
Hull No. NGY0041    
Property, Plant and Equipment    
TEU of vessels contracted for construction 5,000  
Hull No. NGY0042    
Property, Plant and Equipment    
TEU of vessels contracted for construction 5,000  
Hull No. Yzj 2024-1626    
Property, Plant and Equipment    
TEU of vessels contracted for construction 8,258  
Hull No. YZJ2024-1668    
Property, Plant and Equipment    
TEU of vessels contracted for construction 8,258  
Hull No. H2596    
Property, Plant and Equipment    
TEU of vessels contracted for construction 9,200  
Hull No. C7100-9    
Property, Plant and Equipment    
TEU of vessels contracted for construction 7,165  
Hull No.C7100-10    
Property, Plant and Equipment    
TEU of vessels contracted for construction 7,165  
Hull No. C9200-9    
Property, Plant and Equipment    
TEU of vessels contracted for construction 9,200  
Hull No. H2597    
Property, Plant and Equipment    
TEU of vessels contracted for construction 9,200  
Hull No. S1162    
Property, Plant and Equipment    
TEU of vessels contracted for construction 1,800  
Hull No. S 1163    
Property, Plant and Equipment    
TEU of vessels contracted for construction 1,800  
Hull No. C9200-10    
Property, Plant and Equipment    
TEU of vessels contracted for construction 9,200  
Hull No. S 1164    
Property, Plant and Equipment    
TEU of vessels contracted for construction 1,800  
Hull No. C9200-11    
Property, Plant and Equipment    
TEU of vessels contracted for construction 9,200  
Hull No. S 1165    
Property, Plant and Equipment    
TEU of vessels contracted for construction 1,800  
Hull No. S 1166    
Property, Plant and Equipment    
TEU of vessels contracted for construction 1,800  
Hull No. H 2638    
Property, Plant and Equipment    
TEU of vessels contracted for construction 5,300  
Hull No. S 1167    
Property, Plant and Equipment    
TEU of vessels contracted for construction 1,800  
Hull No. H 2639    
Property, Plant and Equipment    
TEU of vessels contracted for construction 5,300  
Hull No. H2640    
Property, Plant and Equipment    
TEU of vessels contracted for construction 5,300  
Hull No. H2641    
Property, Plant and Equipment    
TEU of vessels contracted for construction 5,300  
Hull No. NGY0041 And Hull No. NGY0042    
Property, Plant and Equipment    
Ownership percentage 95.00%  
v3.26.1
Basis of Presentation and General Information - Capesize drybulk vessels (Details)
 6 Months Ended
Jun. 30, 2026
USD ($)
t
Property, Plant and Equipment  
Capesize drybulk vessels 1,943,286
Newcastlemax drybulk vessels | $ 844,000
Genius  
Property, Plant and Equipment  
Capesize drybulk vessels 175,580
Achievement  
Property, Plant and Equipment  
Capesize drybulk vessels 175,966
Ingenuity  
Property, Plant and Equipment  
Capesize drybulk vessels 176,022
Danaos  
Property, Plant and Equipment  
Capesize drybulk vessels 176,536
Valentine  
Property, Plant and Equipment  
Capesize drybulk vessels 175,125
Integrity  
Property, Plant and Equipment  
Capesize drybulk vessels 175,966
Peace  
Property, Plant and Equipment  
Capesize drybulk vessels 175,858
Gouverneur  
Property, Plant and Equipment  
Capesize drybulk vessels 178,043
W Trader  
Property, Plant and Equipment  
Capesize drybulk vessels 175,879
E Trader  
Property, Plant and Equipment  
Capesize drybulk vessels 175,886
John Junior (Ex. Hebei No.1)  
Property, Plant and Equipment  
Capesize drybulk vessels 182,425
DJCFD010  
Property, Plant and Equipment  
Newcastlemax drybulk vessels | $ 211,000
DJCFD016  
Property, Plant and Equipment  
Newcastlemax drybulk vessels | $ 211,000
DJCFD011  
Property, Plant and Equipment  
Newcastlemax drybulk vessels | $ 211,000
DJCFD017  
Property, Plant and Equipment  
Newcastlemax drybulk vessels | $ 211,000
v3.26.1
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Vessel Costs    
Balance at the beginning of the period $ 4,892,047  
Additions and vessel acquisition 25,466  
Vessel upgrades and other vessel costs 1,655  
Depreciation 82,639 $ 80,726
Balance at the end of the period 4,919,168  
Accumulated Depreciation    
Balance at the beginning of the period (1,622,344)  
Depreciation (82,639) $ (80,726)
Balance at the end of the period (1,704,983)  
Net Book Value    
Balance at the beginning of the period 3,269,703  
Additions and vessel acquisition 25,466  
Vessel upgrades and other vessel costs 1,655  
Depreciation (82,639)  
Balance at the end of the period $ 3,214,185  
v3.26.1
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition - Capesize drybulk and Deliveries of newbuilding container vessels (Details)
$ in Thousands
 1 Months Ended 6 Months Ended 12 Months Ended
May 31, 2026
item
Jun. 30, 2026
USD ($)
item
Dec. 31, 2025
USD ($)
item
Fixed Assets, net      
Fixed assets, net | $   $ 4,919,168 $ 4,892,047
TEU of vessels contracted for construction   184,550  
Number of vessels acquired   11  
6,014 TEU      
Fixed Assets, net      
Number of Container Vessels     2
Two 6,014 TEU      
Fixed Assets, net      
Fixed assets, net | $     $ 129,400
TEU of vessels contracted for construction     6,014
Drybulk capesize vessel      
Fixed Assets, net      
Escrow Deposit | $   $ 3,800  
Remaining advances for vessels under construction | $   21,200  
Fixed assets, net | $   $ 25,500  
Two 5000 TEU vessels      
Fixed Assets, net      
TEU of vessels contracted for construction 5,000 5,000  
Two 5300 TEU vessels      
Fixed Assets, net      
TEU of vessels contracted for construction     5,300
Capesize Bulk Carriers      
Fixed Assets, net      
Aggregate amount of purchase price | $   $ 25,000  
Capesize Bulk Carriers | Two 5300 TEU vessels      
Fixed Assets, net      
TEU of vessels contracted for construction   5,300  
v3.26.1
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition - Additional Information (Details)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
May 31, 2026
item
Feb. 28, 2026
item
t
Jan. 31, 2026
item
t
Sep. 30, 2027
item
Sep. 30, 2026
item
Mar. 31, 2026
item
Jun. 30, 2026
USD ($)
item
t
Dec. 31, 2029
item
Dec. 31, 2028
item
Dec. 31, 2027
item
Dec. 31, 2025
USD ($)
item
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Aug. 01, 2025
USD ($)
Feb. 03, 2025
USD ($)
Advances for Vessels under Construction and Vessel Acquisition                              
Capesize drybulk vessels | t             1,943,286                
Number of vessels under construction             29                
Number of Vessels Contracted for Construction             4                
TEU of vessels contracted for construction             184,550                
Supervision fee per new building vessel payable | $                           $ 850  
Seven 9200 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction             7                
TEU of vessels contracted for construction             9,200                
Seven 8258 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction             7                
TEU of vessels contracted for construction             8,258                
Two 7165 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of vessels expected to be delivered       2                      
Number of Vessels Contracted for Construction             2       2        
TEU of vessels contracted for construction             7,165       7,165        
One 6014 TEU vessel                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction             1       1        
TEU of vessels contracted for construction             6,014       6,014        
Two 5300 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction             2       2        
TEU of vessels contracted for construction                     5,300        
Four 5300 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction           4         4        
TEU of vessels contracted for construction           5,300         5,300        
Two 5000 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction 2           2                
TEU of vessels contracted for construction 5,000           5,000                
Six 1800 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction                     6        
TEU of vessels contracted for construction                     1,800        
Vessel under construction                              
Advances for Vessels under Construction and Vessel Acquisition                              
Interest expense capitalized | $             $ 16,300       $ 21,600        
Manager                              
Advances for Vessels under Construction and Vessel Acquisition                              
Supervision fee per new building vessel payable | $             $ 850               $ 850
TEU container vessels | Vessel under construction                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction             29                
Drybulk capesize vessel | 211,000 DWT                              
Advances for Vessels under Construction and Vessel Acquisition                              
Capesize drybulk vessels | t   211,000 211,000                        
Number of Vessels Contracted for Construction   4 4                        
Drybulk capesize vessel | Vessel under construction                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of Vessels Contracted for Construction             4                
TEU Container Vessels And Drybulk Capesize Vessels | Vessel under construction                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of vessels under construction             4                
Number of Vessels Contracted for Construction             29                
Aggregate purchase price | $             $ 2,484,300                
Payments for purchase price of construction assets | $             $ 284,300       $ 190,000 $ 174,500 $ 28,300    
Forecast | Seven 9200 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of vessels expected to be delivered                 2 5          
Forecast | Seven 8258 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of vessels expected to be delivered         3         4          
Forecast | Four 5300 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of vessels expected to be delivered               3 1            
Forecast | Six 1800 TEU vessels                              
Advances for Vessels under Construction and Vessel Acquisition                              
Number of vessels expected to be delivered               1 4 1          
v3.26.1
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition - Remaining contractual commitments (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Fixed Assets, Net and Advances for Vessels Under Construction and Vessel Acquisition  
June 30, 2027 $ 805,115
June 30, 2028 646,865
June 30, 2029 355,171
Total contractual commitments $ 1,807,151
v3.26.1
Deferred Charges, net (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Changes in deferred charges, net          
Balance at the beginning of the period     $ 54,356    
Amortization $ (10,485) $ (11,515) (22,782) $ (22,485)  
Balance at the end of the period 54,469   54,469   $ 54,356
Drydocking and Special Survey Costs          
Changes in deferred charges, net          
Balance at the beginning of the period     54,356 $ 58,759 58,759
Additions     22,895   39,671
Write-off     (1,773)    
Amortization     (21,009)   (44,074)
Balance at the end of the period $ 54,469   $ 54,469   $ 54,356
Period of amortization for deferred costs     2 years 6 months    
v3.26.1
Investments - Investment Classification (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Total $ 223,176 $ 120,244
Non-current Assets    
Total 12,388
Location, Statement of Financial Position, Balance [Axis]: us-gaap:LongTermInvestments    
Non-current Assets    
Equity Investment in Alaska LNG project 12,388  
Location, Statement of Financial Position, Balance [Axis]: us-gaap:ShortTermInvestment    
Current Assets    
Marketable securities $ 223,176 $ 120,244
v3.26.1
Investments - Marketable securities (Details)
€ / shares in Units, $ in Thousands, € in Millions
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Apr. 09, 2024
shares
Apr. 30, 2026
USD ($)
shares
Apr. 30, 2026
EUR (€)
€ / shares
shares
Jun. 30, 2026
USD ($)
shares
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
shares
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
shares
Marketable Securities [Line Items]                
Gain/loss on investment       $ 20,897 $ 14,734 $ 44,357 $ 17,217  
Dividend income       $ 3,128 $ 313 $ 5,443 679  
SBLK Common Stock                
Marketable Securities [Line Items]                
Number of shares of marketable securities acquired | shares               2,185,967
Amount paid to acquire marketable securities               $ 29,900
Marketable securities owned | shares       6,256,181   6,256,181   6,256,181
Eagle Bulk Shipping Inc. | SBLK Common Stock                
Marketable Securities [Line Items]                
Common stock of SBLK received in exchange for each share of EGLE common stock owned | shares 2.6211              
Star Bulk Carriers Corp.                
Marketable Securities [Line Items]                
Marketable securities       $ 156,200   $ 156,200   $ 120,200
Gain/loss on investment           36,000 17,200  
Dividend income           $ 5,400 $ 700  
Yoda PLC                
Marketable Securities [Line Items]                
Number of shares of marketable securities acquired | shares   45,454,545 45,454,545          
Amount paid to acquire marketable securities   $ 58,600 € 50.0          
Marketable securities owned | shares       45,454,545   45,454,545    
Value per share | € / shares     € 1.1          
Marketable securities       $ 67,000   $ 67,000    
Gain/loss on investment           8,400    
Unrealized gain from fair value remeasurement           9,900    
Foreign currency exchange losses           $ 1,500    
v3.26.1
Investments - Investments under Non-current Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Schedule of Equity Method Investments [Line Items]        
Loss on equity investments $ 534 $ 333 $ 811 $ 565
Glenfarne Alaksa Partners LLC        
Schedule of Equity Method Investments [Line Items]        
Amount invested 12,400   12,400  
Remaining commitment expected to be drawn $ 37,500   37,500  
Loss on equity investments     $ 100  
v3.26.1
Other Current and Non-current Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Other Current and Non-current Assets    
Straight-lining of revenue $ 21,986 $ 24,828
Claims receivable 9,023 9,978
Other current assets 9,175 16,087
Total other current assets 40,184 50,893
Straight-lining of revenue 17,464 30,144
EUAs & Fuel EUs 12,353  
Other non-current assets 17,396 12,161
Total other non-current assets $ 47,213 $ 42,305
v3.26.1
Other Current and Non-current Assets - Narratives (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 10, 2026
Jun. 30, 2026
Jun. 30, 2025
Mar. 31, 2023
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Other Current and Non-current Assets                
Loss on equity investments   $ 534 $ 333   $ 811 $ 565    
CTTC                
Other Current and Non-current Assets                
Amount invested       $ 4,300        
Ownership interest percentage       49.00%        
Additional amount $ 400           $ 2,500 $ 2,500
Interest rate (as a percent)             2.00% 2.00%
Loss on equity investments         700 $ 600    
Carrying value of equity method investment   $ 0     $ 0      
v3.26.1
Accrued Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Accrued Liabilities    
Accrued interest $ 13,596 $ 16,402
Accrued dry-docking expenses 4,794 2,594
Accrued expenses 15,568 9,776
Total $ 33,958 $ 28,772
v3.26.1
Other Current and Long-term Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Other Current Liabilities    
Straight-lining of revenue $ 15,673 $ 15,494
EUAs & Fuel EUs 17,741 20,496
Total other current liabilities 33,414 35,990
Other long-term liabilities    
Straight-lining of revenue 23,099 20,496
EUAs & Fuel EUs 12,410  
Other long-term liabilities 21,739 21,487
Total other long-term liabilities $ 57,248 $ 41,983
v3.26.1
Long-Term Debt, net - Schedule of Debt (Details) - USD ($)
Jun. 30, 2026
Mar. 02, 2026
Dec. 31, 2025
Long-Term Debt, net      
Long-term debt   $ 262,800,000  
Total long-term debt $ 1,232,725,000   $ 1,177,782,000
Less: Deferred finance costs (long-term portion) (19,016,000)   (17,032,000)
Less: Unamortized debt discount (2,989,000)   (3,226,000)
Less: Current portion, gross of deferred finance costs (26,629,000)   (285,448,000)
Total long-term debt net of current portion and long term portion of deferred finance costs 1,184,091,000   872,076,000
Syndicated $450.0 mil. Facility      
Long-Term Debt, net      
Long-term debt 0   335,210,000
JOLCO Facilities      
Long-Term Debt, net      
Long-term debt 732,725,000   79,806,000
Senior unsecured notes      
Long-Term Debt, net      
Long-term debt $ 500,000,000   $ 762,766,000
v3.26.1
Long-Term Debt, net - JOLCO Facilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 02, 2026
Dec. 31, 2025
Credit Facilities Summary Table      
Long-term debt   $ 262,800  
JOLCO Facilities      
Credit Facilities Summary Table      
Long-term debt $ 732,725   $ 79,806
Phoebe      
Credit Facilities Summary Table      
Maximum facility amount 80,000    
Long-term debt 78,600    
Greenhouse      
Credit Facilities Summary Table      
Maximum facility amount 80,000    
Long-term debt 79,100    
Interasia Accelerate      
Credit Facilities Summary Table      
Maximum facility amount 85,500    
Long-term debt 84,500    
Interasia Amplify      
Credit Facilities Summary Table      
Maximum facility amount 85,500    
Long-term debt 84,500    
Catherine C      
Credit Facilities Summary Table      
Maximum facility amount 100,000    
Long-term debt 99,400    
Greenland      
Credit Facilities Summary Table      
Maximum facility amount 100,000    
Long-term debt 99,600    
Greenville      
Credit Facilities Summary Table      
Maximum facility amount 103,500    
Long-term debt 103,500    
Greenfield      
Credit Facilities Summary Table      
Maximum facility amount 103,500    
Long-term debt 103,500    
CV5900-09      
Credit Facilities Summary Table      
Maximum facility amount 68,000    
C7100-9      
Credit Facilities Summary Table      
Maximum facility amount 84,000    
Hull No.C7100-10      
Credit Facilities Summary Table      
Maximum facility amount $ 84,000    
v3.26.1
Long-Term Debt, net - Principal Payments (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Scheduled maturities of long-term debt  
June 30, 2027 $ 26,629
June 30, 2028 31,249
June 30, 2029 33,134
June 30, 2030 35,041
June 30, 2031 37,058
June 30, 2032 and thereafter 1,069,614
Total long-term debt $ 1,232,725
v3.26.1
Long-Term Debt, net - Interest and finance costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Long-Term Debt, net        
Interest on secured and unsecured credit facilities     $ 34,541 $ 27,437
Less: Interest capitalized     (16,320) (9,268)
Amortization of debt issuance costs & debt discount     1,765 1,545
Interest and finance costs $ 8,127 $ 9,711 $ 19,986 $ 19,714
v3.26.1
Long-Term Debt, net - Additional Information (Details)
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 01, 2025
USD ($)
Oct. 16, 2025
USD ($)
May 31, 2026
USD ($)
installment
tranche
item
Feb. 28, 2025
USD ($)
installment
item
Mar. 31, 2024
USD ($)
item
installment
Dec. 31, 2022
USD ($)
item
installment
Jun. 30, 2022
USD ($)
item
installment
Jun. 30, 2026
USD ($)
item
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
item
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
item
Jun. 02, 2026
USD ($)
Mar. 02, 2026
USD ($)
Feb. 11, 2021
USD ($)
Long-Term Debt, net                              
Number of vessels under construction | item               29   29          
Proceeds from long-term debt, net                   $ 658,000,000 $ 44,000,000        
Deferred finance costs, Long-term portion               $ 19,016,000   19,016,000   $ 17,032,000      
Long-term debt                           $ 262,800,000  
Payments of long-term debt                   603,057,000 18,220,000        
Deferred financing costs - Written off                   6,000,000 0        
Total long-term debt net of current portion and long term portion of deferred finance costs               $ 1,184,091,000   $ 1,184,091,000   872,076,000      
TEU | item               477,491   477,491          
Loss on debt extinguishment               $ (1,405,000) $ 0 $ (6,027,000) $ 0        
Prior to October 15, 2028, Subject Certain Condition                              
Long-Term Debt, net                              
Percentage of redemption price   106.875%                          
Citibank $382.5 mil. Revolving Credit Facility                              
Long-Term Debt, net                              
Credit facility           $ 382,500,000   382,500,000   382,500,000   382,500,000      
Amount drawn               $ 0   $ 0          
Term of debt           5 years                  
Number of quarterly instalments | installment           20                  
Amount of quarterly instalments           $ 11,250,000                  
Balloon payment at maturity           $ 157,500,000                  
Number of vessels pledged as collateral | item           12                  
Minimum percentage of fair market value of collateral vessels required to cover loan value               120.00%   120.00%          
Remaining borrowing availability               $ 225,000,000   $ 225,000,000          
Syndicated 850.0 million facility                              
Long-Term Debt, net                              
Credit facility       $ 850,000,000       850,000,000   850,000,000   850,000,000      
Amount drawn               0   0          
Number of quarterly instalments | installment       20                      
Amount of quarterly instalments       $ 800,000                      
Number of vessels under construction | item       14                      
Remaining borrowing availability               850,000,000   $ 850,000,000          
Syndicated 850.0 million facility | Minimum                              
Long-Term Debt, net                              
Balloon payment at maturity       $ 42,400,000                      
Syndicated 850.0 million facility | Maximum                              
Long-Term Debt, net                              
Balloon payment at maturity       $ 46,700,000                      
JOLCO Facilities                              
Long-Term Debt, net                              
Term of debt                   8 years          
Proceeds from long-term debt, net                   $ 738,000,000          
Amount of borrowing capacity               236,000,000   236,000,000          
Long-term debt               732,725,000   $ 732,725,000   79,806,000      
Number of additional financing facilities | item                   3          
Remaining borrowing availability               236,000,000   $ 236,000,000          
JOLCO Facilities | Minimum                              
Long-Term Debt, net                              
Maximum facility amount               68,000,000   68,000,000          
JOLCO Facilities | Maximum                              
Long-Term Debt, net                              
Maximum facility amount               103,500,000   103,500,000          
KfW $132.0 mil. Facility                              
Long-Term Debt, net                              
Credit facility     $ 132,000,000         132,000,000   132,000,000   132,000,000      
Number of quarterly instalments | tranche     40                        
Amount of quarterly instalments     $ 300,000                        
Balloon payment at maturity     $ 10,300,000                        
Number of vessels under construction | item     6                        
Proceeds from long-term debt, net                   0          
TEU | item     1,800                        
Tranches drawdown               22,000,000   22,000,000          
Quarterly instalments | installment     39                        
Remaining borrowing availability               132   132          
Syndicated $450.0 mil. Facility                              
Long-Term Debt, net                              
Credit facility         $ 450,000,000     450,000,000   450,000,000   450,000,000 $ 450,000,000    
Number of quarterly instalments | installment         20                    
Number of vessels pledged as collateral | item         8                    
Long-term debt               0   0   $ 335,210,000      
Payments of long-term debt         $ 42,780,000                    
Deferred financing costs - Written off                   3,800,000          
Syndicated $450.0 mil. Facility | Minimum                              
Long-Term Debt, net                              
Amount of quarterly instalments         600,000                    
Balloon payment at maturity         31,800,000                    
Syndicated $450.0 mil. Facility | Maximum                              
Long-Term Debt, net                              
Amount of quarterly instalments         900,000                    
Balloon payment at maturity         $ 45,500,000                    
BNP Paribas/Credit Agricole $130 mil. Facility                              
Long-Term Debt, net                              
Credit facility $ 130,000,000                            
Term of debt             5 years                
Balloon payment at maturity             $ 67,200,000                
Number of vessels pledged as collateral | item             6                
Face amount of debt             $ 130,000,000                
Payments of long-term debt 78,600,000                            
Total long-term debt net of current portion and long term portion of deferred finance costs 0                            
BNP Paribas/Credit Agricole $130 mil. Facility | Eight Quarterly Installment                              
Long-Term Debt, net                              
Number of quarterly instalments | installment             8                
Amount of quarterly instalments             $ 5,000,000                
BNP Paribas/Credit Agricole $130 mil. Facility | Twelve Quarterly Installments                              
Long-Term Debt, net                              
Number of quarterly instalments | installment             12                
Amount of quarterly instalments             $ 1,900,000                
BNP Paribas/Credit Agricole $130 mil. Facility | TEU sister vessels                              
Long-Term Debt, net                              
TEU | item             5,466                
Citibank/Natwest $815 mil. Facility                              
Long-Term Debt, net                              
Credit facility debt extinguished           $ 437,750,000                  
Credit facility           815,000,000                  
Alpha Bank $55.25 mil. Facility                              
Long-Term Debt, net                              
Credit facility 55,250,000         $ 55,250,000                  
Term of debt           5 years                  
Number of quarterly instalments | installment           20                  
Amount of quarterly instalments           $ 1,875,000                  
Balloon payment at maturity           $ 17,750,000                  
Number of vessels pledged as collateral | item           2                  
Prepayment of credit facility 32,800,000                            
Total long-term debt net of current portion and long term portion of deferred finance costs $ 0                            
Number of vessels excluding sale and lease back arrangement | item                       20      
Carrying value of vessels subject to first preferred mortgages as collateral to credit facilities               1,393,600,000   1,393,600,000          
Senior unsecured notes                              
Long-Term Debt, net                              
Long-term debt               $ 500,000,000   $ 500,000,000   $ 762,766,000      
Weighted-average interest rate on long-term borrowings                   6.22% 7.02%        
Senior Unsecured Notes Due 2028                              
Long-Term Debt, net                              
Face amount of debt                             $ 300,000,000
Deferred financing costs - Written off                   $ 2,200,000          
Fixed interest rate (as a percent)               8.50%   8.50%         8.50%
Amount repurchased                             $ 37,200,000
Senior unsecured notes, due 2032                              
Long-Term Debt, net                              
Proceeds from long-term debt, net   $ 496,700,000                          
Face amount of debt   $ 500,000,000                          
Percentage of par value issue price   99.335%                          
Fixed interest rate (as a percent)   6.875%                          
Bond issuance costs   $ 12,800,000                          
Senior unsecured notes, due 2032 | Prior To October 15, 2028                              
Long-Term Debt, net                              
Percentage of redemption senior note   100.00%                          
Senior unsecured notes, due 2032 | October 15, 2028, to Prior to October 15, 2029                              
Long-Term Debt, net                              
Percentage of redemption senior note   103.438%                          
Senior unsecured notes, due 2032 | October 15, 2029, to Prior to October 15, 2030                              
Long-Term Debt, net                              
Percentage of redemption senior note   101.719%                          
Senior unsecured notes, due 2032 | October 15, 2030, to maturity                              
Long-Term Debt, net                              
Percentage of redemption senior note   100.00%                          
Senior unsecured notes, due 2032 | Minimum | Prior to October 15, 2028, Subject Certain Condition                              
Long-Term Debt, net                              
Percentage of redemption senior note   60.00%                          
Senior unsecured notes, due 2032 | Maximum | Prior to October 15, 2028, Subject Certain Condition                              
Long-Term Debt, net                              
Percentage of redemption senior note   40.00%                          
Citibank $382.5 Mil. Revolving Credit Facility, Syndicated $450.0 Mil Facility And JOLCO Phoebe Facility                              
Long-Term Debt, net                              
Minimum liquidity               $ 30,000,000   $ 30,000,000          
Maximum leverage ratio               6.5   6.5          
Minimum interest coverage ratio               2.5   2.5          
v3.26.1
Financial Instruments - Interest Rate Swap Hedges (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
agreement
Jun. 30, 2025
USD ($)
Financial Instruments    
Number of agreements held | agreement 0  
Interest rate swap contracts    
Financial Instruments    
Unrealized losses reclassified from accumulated other comprehensive loss to earnings $ 1.8 $ 1.8
Unrealized losses expected to be reclassified from accumulated other comprehensive loss to earnings within the next twelve months $ 3.6  
v3.26.1
Financial Instruments - Fair Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Book Value    
ASSETS    
Cash and cash equivalents $ 1,008,268 $ 1,037,292
Marketable securities 223,176 120,244
Fair Value    
ASSETS    
Cash and cash equivalents 1,008,268 1,037,292
Marketable securities 223,176 120,244
Secured long-term debt, including current portion | Book Value    
LIABILITIES    
Long-term debt 732,725 415,016
Secured long-term debt, including current portion | Fair Value    
LIABILITIES    
Long-term debt 732,725 415,016
Unsecured long-term debt | Book Value    
LIABILITIES    
Long-term debt 500,000 762,766
Unsecured long-term debt | Fair Value    
LIABILITIES    
Long-term debt $ 518,125 $ 782,269
v3.26.1
Financial Instruments - Measured On Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Fair Value    
ASSETS    
Marketable securities $ 223,176 $ 120,244
Recurring basis | (Level I)    
ASSETS    
Marketable securities 223,176 120,244
Recurring basis | Fair Value    
ASSETS    
Marketable securities $ 223,176 $ 120,244
v3.26.1
Financial Instruments - Not Measured On Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
LIABILITIES    
Gross of deferred finance costs and debt discount $ 22,000 $ 22,700
Fair Value    
ASSETS    
Cash and cash equivalents 1,008,268 1,037,292
Fair Value | Secured long-term debt, including current portion    
LIABILITIES    
Long-term debt 732,725 415,016
Fair Value | Unsecured long-term debt    
LIABILITIES    
Long-term debt 518,125 782,269
Non-recurring basis | (Level I)    
ASSETS    
Cash and cash equivalents 1,008,268 1,037,292
Non-recurring basis | (Level I) | Unsecured long-term debt    
LIABILITIES    
Long-term debt 518,125 782,269
Non-recurring basis | (Level II) | Secured long-term debt, including current portion    
LIABILITIES    
Long-term debt 732,725 415,016
Non-recurring basis | Fair Value    
ASSETS    
Cash and cash equivalents 1,008,268 1,037,292
Non-recurring basis | Fair Value | Secured long-term debt, including current portion    
LIABILITIES    
Long-term debt 732,725 415,016
Non-recurring basis | Fair Value | Unsecured long-term debt    
LIABILITIES    
Long-term debt $ 518,125 $ 782,269
v3.26.1
Stockholders' Equity (Details)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Apr. 14, 2025
USD ($)
Nov. 10, 2023
USD ($)
Aug. 31, 2025
shares
Dec. 31, 2024
USD ($)
shares
Jun. 30, 2026
USD ($)
$ / shares
shares
Mar. 31, 2026
$ / shares
Jun. 30, 2025
$ / shares
Mar. 31, 2025
$ / shares
Jun. 30, 2026
USD ($)
director
$ / shares
shares
Jun. 30, 2025
USD ($)
director
$ / shares
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2025
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
shares
Jun. 30, 2022
USD ($)
Stockholders' Equity                              
Dividend declared (in US$ per share) | $ / shares         $ 0.9 $ 0.9 $ 0.85 $ 0.85              
Dividends, common stock in cash | $                 $ 32.8 $ 31.5          
Common shares issued                 92 98          
Shares repurchase program authorized amount | $         $ 300.0       $ 300.0           $ 100.0
Stock repurchase program authorized repurchase additional amount | $ $ 100.0 $ 100.0                          
Repurchased shares       661,103 60,819       60,819   661,103 927,527 1,131,040 466,955  
Value of repurchased shares | $       $ 53.9 $ 5.9       $ 5.9   $ 53.9 $ 76.1 $ 70.6 $ 28.6  
Total shares repurchased         3,247,444       3,247,444            
Amount of total shares repurchased | $         $ 235.1       $ 235.1            
Repurchase of common stock | $                 $ 0.9            
Maximum number of shares that may be granted         1,000,000       1,000,000            
Number of directors who elected to receive their compensation in shares | director                 0 0          
Employees of the Manager | Restricted shares                              
Stockholders' Equity                              
Shares granted       30,000                      
Shares issued and outstanding       30,000 28,000       28,000   30,000        
Aggregate compensation expense | $       $ 2.3             $ 2.3        
Vesting period                     4 years        
Employees of the Manager | Vesting in December 2025 | Restricted shares                              
Stockholders' Equity                              
Shares granted       2,000                      
Employees of the Manager | Vesting in December 2026 | Restricted shares                              
Stockholders' Equity                              
Shares granted       4,000                      
Employees of the Manager | Vesting in December 2027 | Restricted shares                              
Stockholders' Equity                              
Shares granted       8,000                      
Employees of the Manager | Vesting in December 2028 | Restricted shares                              
Stockholders' Equity                              
Shares granted       16,000                      
Manager                              
Stockholders' Equity                              
Shares issued and outstanding         100,000       100,000            
Manager | Common Stock                              
Stockholders' Equity                              
Shares granted     100,000                        
Manager | Restricted shares                              
Stockholders' Equity                              
Vesting period                 1 year            
Stock based compensation expenses | $                 $ 6.0            
Related party | Restricted shares                              
Stockholders' Equity                              
Stock based compensation expenses | $                 $ 4.8            
O 2026 M3 Dividends                              
Stockholders' Equity                              
Dividend declared (in US$ per share) | $ / shares                 $ 0.9            
O 2026 M6 Dividends                              
Stockholders' Equity                              
Dividend declared (in US$ per share) | $ / shares                 $ 0.90            
O 2025 M2 Dividends                              
Stockholders' Equity                              
Dividend declared (in US$ per share) | $ / shares                   $ 0.85          
O 2025 M6 Dividends                              
Stockholders' Equity                              
Dividend declared (in US$ per share) | $ / shares                   $ 0.85          
v3.26.1
Lease Arrangements (Details)
$ in Thousands
 1 Months Ended 6 Months Ended
May 31, 2022
USD ($)
item
Jun. 30, 2026
USD ($)
item
Dec. 31, 2025
USD ($)
Lease Arrangements      
Number of vessels , generated revenue results | item   75  
Number of charter vessels | item 15    
Amount of charter hire prepayment received $ 238,900    
Current portion of unearned revenue   $ 30,351 $ 36,625
Non-current portion of unearned revenue   2,618
Future minimum payments, expected to be received      
2026 (remaining)   506,546  
2027   967,838  
2028   857,583  
2029   681,556  
2030   493,088  
2031 and thereafter   801,033  
Total future rentals   $ 4,307,644  
Time Charter Agreements      
Lease Arrangements      
Operating lease term of contract one   3 years  
Operating lease term of contract two   5 years  
Operating lease term of contract three   7 years  
Operating lease term of contract four   10 years  
Number of vessels under construction contracted with charter agreements | item   23  
Number of container vessels under construction | item   29  
Lessor, Operating Lease, Existence of Option to Extend [true false]   true  
Minimum term of the option to extend timer charter agreement   1 year  
Maximum term of the option to extend timer charter agreement   4 years  
Current portion of unearned revenue   $ 11,200 20,300
Non-current portion of unearned revenue   $ 0 $ 2,600
v3.26.1
Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Numerator:            
Net Income for the period $ 151,815 $ 140,421 $ 130,904 $ 115,147 $ 292,236 $ 246,051
Denominator (number of shares in thousands):            
Basic weighted average common shares outstanding 18,204   18,344   18,207 18,546
Effect of dilutive securities:            
Dilutive effect of non-vested shares 52   52   38 42
Diluted weighted average common shares outstanding 18,256   18,396   18,245 18,588
Basic earnings per share of common stock (in $ per share) $ 8.34   $ 7.14   $ 16.05 $ 13.27
Diluted earnings per share of common stock (in $ per share) $ 8.32   $ 7.12   $ 16.02 $ 13.24
v3.26.1
Related Party Transactions (Details) - USD ($)
 6 Months Ended 12 Months Ended
Aug. 01, 2025
Feb. 03, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Related Party Transactions          
Related Party Transaction, Annual Management Fee, Shares 100,000        
Supervision fee per new building vessel payable $ 850,000        
Fee per emission allowance, surrendered by responsible entity 1        
Due from related parties     $ 59,031,000   $ 46,750,000
Prior service cost and periodic cost     1,346,000 $ 2,807,000  
Daily vessel management fee for the vessel bareboat charter for the remainder of 2025 475        
Annual management fee payable for the remainder of 2025 2,000,000        
Daily vessel management fee for the vessel bareboat charter next fiscal year 550        
Daily vessel management fee for vessels on time charter or voyage charter for the remainder of 2025 950        
Daily vessel management fee for vessels on time charter or voyage charter for the next fiscal year 1,100        
Annual management fee payable to related party in next fiscal year $ 2,500,000        
Manager          
Related Party Transactions          
Related Party Transaction, Annual Management Fee   $ 2,000,000      
Related Party Transaction, Annual Management Fee, Shares   100,000      
Daily vessel management fees for vessels on bareboat charter   $ 475      
Daily vessel management fees for vessels on time charter   950      
Supervision fee per new building vessel payable   850,000 850,000    
Fee per emission allowance, surrendered by responsible entity   $ 1      
Management fees     18,200,000 15,300,000  
Supervision fees for vessels capitalized     3,000,000   1,900,000
Due from related parties     59,000,000   46,800,000
Commissions     6,800,000 6,400,000  
Amount capitalized     300,000   1,200,000
Related party | Danaos Chartering          
Related Party Transactions          
Management fee on gross freight, charter hire, ballast bonus and demurrage (as a percent)   1.25%      
Management fee based on the contract price of any vessel bought or sold (as a percent)   1.00%      
Executive officers          
Related Party Transactions          
Remaining defined benefit obligation     21,700,000   $ 21,500,000
Prior service cost exercised     1,100,000 600,000  
Foreign exchange loss / (gain)     600,000 1,600,000  
Interest cost     300,000 $ 200,000  
Prior service cost expected to be reclassified     $ 2,300,000    
v3.26.1
Operating Revenue - Charters (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Operating Revenue          
Operating revenues $ 274,370 $ 262,154 $ 528,068 $ 515,461  
Current portion of unearned revenue 30,351   30,351   $ 36,625
Capitalized contract fulfillment costs     900    
Capitalized contract 600   600   1,500
Net gain     5,100    
Time charters and bareboat charters          
Operating Revenue          
Operating revenues     501,286 488,717  
Voyage charters          
Operating Revenue          
Operating revenues     26,782 $ 26,744  
Accounts receivable 800   800   3,100
Current portion of unearned revenue $ 1,600   $ 1,600   $ 0
v3.26.1
Segments (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Mar. 31, 2026
USD ($)
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Jun. 30, 2026
USD ($)
segment
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Summary of the Company's selected financial information              
Number of reportable segments | segment         2    
Income Statement              
Operating revenues $ 274,370   $ 262,154   $ 528,068 $ 515,461  
Voyage expenses (17,828)   (16,810)   (28,549) (34,945)  
Vessel operating expenses (56,688)   (56,385)   (106,672) (108,087)  
Depreciation (41,777)   (40,698)   (82,639) (80,726)  
Amortization of deferred drydocking and special survey costs (10,485)   (11,515)   (22,782) (22,485)  
Interest expense and finance costs (8,127)   (9,711)   (19,986) (19,714)  
Loss on debt extinguishment (1,405)   0   (6,027) 0  
Net Income 151,815 $ 140,421 130,904 $ 115,147 292,236 246,051  
Statement of Financial Position              
Total Assets 5,447,634       5,447,634   $ 5,113,930
Operating Segments              
Income Statement              
Operating revenues         528,068 515,461  
Voyage expenses         (28,549) (34,945)  
Vessel operating expenses         (106,672) (108,087)  
Depreciation         (82,639) (80,726)  
Amortization of deferred drydocking and special survey costs         (22,782) (22,485)  
Interest income (excluding interest income from investments in affiliates)         14,875 7,208  
Interest expense and finance costs         (19,986) (19,714)  
Loss on debt extinguishment         (6,027)    
Other segment items         (33,124) (28,050)  
Net Income per segment         243,164 228,662  
Gain on investments, dividend income, interest income from investments in affiliates and loss on equity investments         49,072 17,389  
Net Income         292,236 246,051  
Statement of Financial Position              
Total assets per segment 5,224,401   4,993,430   5,224,401 4,993,430  
Marketable securities 223,176   120,244   223,176 120,244  
Receivable from equity investments 57   256   57 256  
Total Assets 5,447,634   5,113,930   5,447,634 5,113,930  
Container vessels segment | Operating Segments              
Income Statement              
Operating revenues         468,200 475,636  
Voyage expenses         (13,773) (17,734)  
Vessel operating expenses         (91,959) (92,571)  
Depreciation         (75,419) (74,154)  
Amortization of deferred drydocking and special survey costs         (16,640) (18,252)  
Interest income (excluding interest income from investments in affiliates)         14,875 7,208  
Interest expense and finance costs         (19,986) (19,714)  
Loss on debt extinguishment         (6,027)    
Other segment items         (29,914) (25,481)  
Net Income per segment         229,357 234,938  
Statement of Financial Position              
Total assets per segment 4,865,518   4,717,465   4,865,518 4,717,465  
Drybulk vessels segment | Operating Segments              
Income Statement              
Operating revenues         59,868 39,825  
Voyage expenses         (14,776) (17,211)  
Vessel operating expenses         (14,713) (15,516)  
Depreciation         (7,220) (6,572)  
Amortization of deferred drydocking and special survey costs         (6,142) (4,233)  
Other segment items         (3,210) (2,569)  
Net Income per segment         13,807 (6,276)  
Statement of Financial Position              
Total assets per segment $ 358,883   $ 275,965   $ 358,883 $ 275,965  
v3.26.1
Subsequent Events (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Jul. 31, 2026
USD ($)
item
$ / shares
Jun. 30, 2026
USD ($)
$ / shares
Mar. 31, 2026
$ / shares
Jun. 30, 2025
$ / shares
Mar. 31, 2025
$ / shares
Jun. 30, 2026
USD ($)
item
Dec. 31, 2025
USD ($)
Feb. 28, 2025
USD ($)
Subsequent Events                
Dividends (in US$ per share) | $ / shares   $ 0.9 $ 0.9 $ 0.85 $ 0.85      
TEU of vessels contracted for construction | item           184,550    
Syndicated 850.0 million facility                
Subsequent Events                
Credit facility | $   $ 850,000       $ 850,000 $ 850,000 $ 850,000
Hull No. YZJ2023-1556                
Subsequent Events                
TEU of vessels contracted for construction | item           8,258    
Subsequent events | Syndicated 850.0 million facility                
Subsequent Events                
Amount drawn from facility | $ $ 57,750              
Credit facility | $ $ 850,000              
Subsequent events | Hull No. YZJ2023-1556                
Subsequent Events                
TEU of vessels contracted for construction | item 8,258              
Subsequent events | O 2026 H2 Dividends                
Subsequent Events                
Dividends (in US$ per share) | $ / shares $ 0.9