DANAOS CORP, 6-K filed on 8/5/2025
Report of Foreign Issuer
v3.25.2
Document and Entity Information
 6 Months Ended
Jun. 30, 2025
Document and Entity Information  
Entity Registrant Name Danaos Corp
Entity Central Index Key 0001369241
Document Type 6-K
Document Period End Date Jun. 30, 2025
Amendment Flag false
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2025
Document Fiscal Period Focus Q2
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 546,164 $ 453,384
Accounts receivable, net 27,454 25,578
Inventories 21,621 23,881
Prepaid expenses 4,939 1,902
Due from related parties $ 49,102 $ 52,572
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Other current assets $ 158,162 $ 113,650
Total current assets 807,442 670,967
NON-CURRENT ASSETS    
Fixed assets at cost, net of accumulated depreciation of $1,539,705 (2024: $1,458,978) 3,284,665 3,290,309
Advances for vessels acquisition and vessels under construction 304,686 265,838
Deferred charges, net 64,079 58,759
Other non-current assets 60,288 57,781
Total non-current assets 3,713,718 3,672,687
Total assets 4,521,160 4,343,654
CURRENT LIABILITIES    
Accounts payable 23,595 29,039
Accrued liabilities 23,385 23,644
Current portion of long-term debt, net 37,660 35,220
Unearned revenue 41,519 49,665
Other current liabilities 24,559 31,386
Total current liabilities 150,718 168,954
LONG-TERM LIABILITIES    
Long-term debt, net 723,534 699,563
Unearned revenue, net of current portion 11,157 22,901
Other long-term liabilities 43,198 27,436
Total long-term liabilities 777,889 749,900
Total liabilities 928,607 918,854
Commitments and Contingencies
STOCKHOLDERS' EQUITY    
Preferred stock (par value $0.01, 100,000,000 preferred shares authorized and not issued as of June 30, 2025 and December 31, 2024)
Common stock (par value $0.01, 750,000,000 common shares authorized as of June 30, 2025 and December 31, 2024. 25,586,083 and 25,585,985 shares issued as of June 30, 2025 and December 31, 2024; and 18,309,654 and 18,987,616 shares outstanding as of June 30, 2025 and December 31, 2024) 183 190
Additional paid-in capital 601,653 650,864
Accumulated other comprehensive loss (68,053) (70,430)
Retained earnings 3,058,770 2,844,176
Total stockholders' equity 3,592,553 3,424,800
Total liabilities and stockholders' equity $ 4,521,160 $ 4,343,654
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)    
Accumulated depreciation $ 1,539,705 $ 1,458,978
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 25,586,083 25,585,985
Common stock, shares outstanding 18,309,654 18,987,616
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited)        
OPERATING REVENUES $ 262,154 $ 246,306 $ 515,461 $ 499,755
OPERATING EXPENSES        
Voyage expenses (16,810) (12,678) (34,945) (33,020)
Vessel operating expenses (56,385) (47,090) (108,087) (90,204)
Depreciation (40,698) (35,380) (80,726) (69,243)
Amortization of deferred drydocking and special survey costs (11,515) (6,972) (22,485) (12,424)
General and administrative expenses (11,206) (11,297) (23,428) (21,541)
Net gain on disposal of vessel   7,094   7,094
Income From Operations 125,540 139,983 245,790 280,417
OTHER INCOME (EXPENSES):        
Interest income 3,661 2,923 7,266 5,859
Interest expense (9,711) (5,106) (19,714) (8,230)
Gain on investments 14,734 2,224 17,217 13,203
Dividend income 313 3,052 679 3,984
Equity loss on investments (333) (97) (565) (206)
Other finance expenses (973) (868) (1,960) (1,750)
Other income/(expenses), net (1,424) (56) (866) 179
Loss on derivatives (903) (903) (1,796) (1,806)
Total Other Income/(Expenses), net 5,364 1,169 261 11,233
Net Income $ 130,904 $ 141,152 $ 246,051 $ 291,650
EARNINGS PER SHARE        
Basic earnings per share (in dollars per share) $ 7.14 $ 7.3 $ 13.27 $ 15.05
Diluted earnings per share (in dollars per share) $ 7.12 $ 7.23 $ 13.24 $ 14.92
Basic weighted average number of common shares 18,344 19,348 18,546 19,380
Diluted weighted average number of common shares 18,396 19,520 18,588 19,552
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)        
Net income for the period $ 130,904 $ 141,152 $ 246,051 $ 291,650
Other comprehensive income:        
Prior service cost of defined benefit plan 291 263 581 526
Amortization of deferred realized losses on cash flow hedges 903 903 1,796 1,806
Total Other Comprehensive Income 1,194 1,166 2,377 2,332
Comprehensive Income $ 132,098 $ 142,318 $ 248,428 $ 293,982
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - USD ($)
$ in Thousands
Common Stock
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings
Total
Balance at Dec. 31, 2023 $ 194 $ 690,190 $ (75,979) $ 2,401,912 $ 3,016,317
Balance (in shares) at Dec. 31, 2023 19,419        
Increase (Decrease) in Stockholders' Equity          
Net Income       150,498 150,498
Dividends       (15,535) (15,535)
Repurchase of common stock   (4,132)     (4,132)
Repurchase of common stock (in shares) (58)        
Stock based compensation   1,576     1,576
Net movement in other comprehensive income     1,166   1,166
Balance at Mar. 31, 2024 $ 194 687,634 (74,813) 2,536,875 3,149,890
Balance (in shares) at Mar. 31, 2024 19,361        
Balance at Dec. 31, 2023 $ 194 690,190 (75,979) 2,401,912 3,016,317
Balance (in shares) at Dec. 31, 2023 19,419        
Increase (Decrease) in Stockholders' Equity          
Net Income         291,650
Net movement in other comprehensive income         2,332
Balance at Jun. 30, 2024 $ 193 688,122 (73,647) 2,662,550 3,277,218
Balance (in shares) at Jun. 30, 2024 19,346        
Balance at Dec. 31, 2023 $ 194 690,190 (75,979) 2,401,912 3,016,317
Balance (in shares) at Dec. 31, 2023 19,419        
Increase (Decrease) in Stockholders' Equity          
Repurchase of common stock         $ (53,900)
Repurchase of common stock (in shares)         (661,103)
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       18,987,616
Balance at Mar. 31, 2024 $ 194 687,634 (74,813) 2,536,875 $ 3,149,890
Balance (in shares) at Mar. 31, 2024 19,361        
Increase (Decrease) in Stockholders' Equity          
Net Income       141,152 141,152
Dividends       (15,477) (15,477)
Repurchase of common stock $ (1) (1,090)     (1,091)
Repurchase of common stock (in shares) (15)        
Stock based compensation   1,577     1,577
Issuance of common stock   1     1
Net movement in other comprehensive income     1,166   1,166
Balance at Jun. 30, 2024 $ 193 688,122 (73,647) 2,662,550 3,277,218
Balance (in shares) at Jun. 30, 2024 19,346        
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       18,987,616
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 income     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       18,987,616
Increase (Decrease) in Stockholders' Equity          
Net Income         $ 246,051
Repurchase of common stock         $ (52,700)
Repurchase of common stock (in shares)         (678,060)
Net movement in other comprehensive income         $ 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       18,309,654
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 income     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       18,309,654
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited)        
Dividends (in US$ per share) $ 0.85 $ 0.85 $ 0.8 $ 0.8
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash Flows from Operating Activities          
Net income     $ 246,051 $ 291,650  
Adjustments to reconcile net income to net cash provided by operating activities          
Depreciation and amortization of right-of-use assets $ 40,698 $ 35,380 80,726 69,243  
Amortization of deferred drydocking and special survey costs 11,515 6,972 22,485 12,424  
Amortization of assumed time charters     0 (4,534)  
Amortization of finance costs     1,545 971  
Gain on investments     (17,217) (13,203)  
Payments for drydocking and special survey costs deferred     (27,805) (14,618)  
Net gain on disposal of vessel   (7,094)   (7,094)  
Equity loss on investments 333 97 565 206  
Prior service cost and periodic cost     2,807 715  
Stock based compensation     3,428 3,153  
Amortization of deferred realized losses on interest rate swaps     1,796 1,806  
(Increase)/Decrease in          
Accounts receivable     (2,586) (12,795)  
Inventories     2,260 2,602  
Prepaid expenses     (3,037) 47  
Due from related parties     3,470 4,636  
Other assets, current and non-current     8,832 13,922  
Increase/(Decrease) in          
Accounts payable     (5,444) 1,586  
Accrued liabilities     (259) 4,181  
Unearned revenue, current and long-term     (19,890) (29,142)  
Other liabilities, current and long-term     (1,088) (18,189)  
Net Cash provided by Operating Activities     296,639 307,567  
Cash Flows from Investing Activities          
Vessels additions and advances for vessels under construction     (107,021) (341,855)  
Net proceeds and insurance proceeds from disposal of vessel     1,681 10,639  
Investments in affiliates/marketable securities     (30,270)    
Net Cash used in Investing Activities     (135,610) (331,216)  
Cash Flows from Financing Activities          
Proceeds from long-term debt     44,000 181,000  
Payments of long-term debt     (18,220) (13,750)  
Dividends paid     (31,449) (31,011)  
Repurchase of common stock     (53,212) (5,223)  
Finance costs     (9,368) (6,730)  
Net Cash (used in)/ provided by Financing Activities     (68,249) 124,286  
Net Increase in cash and cash equivalents     92,780 100,637  
Cash and cash equivalents at beginning of period     453,384 271,809 $ 271,809
Cash and cash equivalents at end of period $ 546,164 $ 372,446 546,164 372,446 $ 453,384
Supplemental information:          
Cash paid for interest, net of amounts capitalized     $ 18,921 $ 5,322  
v3.25.2
Basis of Presentation and General Information
 6 Months Ended
Jun. 30, 2025
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.

​

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 11, “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 dry bulk 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, 2025, the condensed consolidated results of operations for the three and six months ended June 30, 2025 and 2024 and the condensed consolidated cash flows for the six months ended June 30, 2025 and 2024. 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, 2024. The results of operations for the three and six months ended June 30, 2025, 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. 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.

As of June 30, 2025, Danaos included the vessel owning companies (the “Danaos Subsidiaries”) of container vessels and drybulk vessels listed below:

​

1     Basis of Presentation and General Information (Continued)

Container vessels:

​

​

​

​

​

​

​

​

​

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

​

Zim 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

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

​

Maersk 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

​

Zim Luanda

​

2009

​

4,253

Bayview Shipping Inc.

​

March 22, 2006

​

Rio Grande

​

2008

​

4,253

Channelview Marine Inc.

​

March 22, 2006

​

Merve A

​

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

Vessels under construction

​

​

​

​

​

​

​

​

Boxsail (No. 4) Corp.

​

March 4, 2022

​

Hull No. CV5900-08 (3)

​

2025

​

6,014

Boxline (No. 8) Corp

​

June 6, 2025

​

Hull No. CV5900-09

​

2027

​

6,014

Boxline (No. 1) Corp.

​

June 7, 2023

​

Hull No. YZJ2023-1556

​

2026

​

8,258

Boxline (No. 2) Corp.

​

June 7, 2023

​

Hull No. YZJ2023-1557

​

2026

​

8,258

Boxline (No. 3) Corp.

​

February 2, 2024

​

Hull No. YZJ2024-1612

​

2026

​

8,258

Boxline (No. 4) Corp.

​

February 2, 2024

​

Hull No. YZJ2024-1613

​

2027

​

8,258

Boxline (No. 5) Corp.

​

March 8, 2024

​

Hull No. YZJ2024-1625

​

2027

​

8,258

Boxline (No. 6) Corp.

​

March 8, 2024

​

Hull No. YZJ2024-1626

​

2027

​

8,258

Boxline (No. 7) Corp.

​

May 30, 2024

​

Hull No. YZJ2024-1668

​

2027

​

8,258

Boxsail (No. 5) Corp.

​

June 13, 2024

​

Hull No. C9200-07

​

2027

​

9,200

Boxsail (No. 6) Corp.

​

June 13, 2024

​

Hull No. C9200-08

​

2027

​

9,200

Boxsail (No. 7) Corp.

​

June 13, 2024

​

Hull No. C9200-09

​

2027

​

9,200

Boxsail (No. 8) Corp.

​

June 13, 2024

​

Hull No. C9200-10

​

2027

​

9,200

Boxsail (No. 9) Corp.

​

June 13, 2024

​

Hull No. C9200-11

​

2027

​

9,200

Boxsail (No. 10) Corp.

​

June 13, 2024

​

Hull No. H2596

​

2027

​

9,200

Boxsail (No. 11) Corp.

​

June 13, 2024

​

Hull No. H2597

​

2027

​

9,200

(1)Twenty-feet equivalent unit, the international standard measure for containers and container vessels capacity.

1     Basis of Presentation and General Information (Continued)

(2)The vessel ‘Phoebe’ was delivered during the first quarter of 2025.
(3)The vessel is expected to be delivered during the fourth quarter of 2025.

​

Capesize drybulk vessels

​

​

​

​

​

​

​

​

​

​

Company

    

Date of Incorporation

    

Vessel Name

    

Year Built

    

DWT(1)

Bulk No. 1 Corp.

​

July 14, 2023

 

Integrity

 

2010

 

175,996

Bulk No. 2 Corp.

​

July 14, 2023

 

Achievement

 

2011

 

175,850

Bulk No. 3 Corp.

​

July 14, 2023

 

Ingenuity

 

2011

 

176,022

Bulk No. 4 Corp.

​

July 14, 2023

​

Genius

 

2012

 

175,580

Bulk No. 5 Corp.

​

July 14, 2023

 

Peace

 

2010

 

175,858

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. 8 Corp.

​

January 31, 2024

​

Danaos

​

2011

​

176,536

Bulk No. 9 Corp.

​

February 2, 2024

 

Gouverneur

 

2010

 

178,043

Bulk No. 10 Corp.

​

February 15, 2024

 

Valentine

 

2011

 

175,125

(1)DWT, dead weight tons, the international standard measure for drybulk vessels capacity.
v3.25.2
Significant Accounting Policies
 6 Months Ended
Jun. 30, 2025
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, 2024 filed with the Securities and Exchange Commission on March 5, 2025. During the three and six months ended June 30, 2025, there were no significant changes made to the Company’s significant accounting policies.

​
v3.25.2
Investments in Affiliates
 6 Months Ended
Jun. 30, 2025
Investments in Affiliates  
Investments in Affiliates

3     Investments in Affiliates

​

In March 2023, we 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, that engages in research and development of decarbonization technologies for the shipping industry. This investment represents a 49% ownership interest which is recorded in our books under equity method of accounting. In 2024 and 2025, the Company has provided CTTC with additional funding of $2.1 million in the form of a loan which bears interest at a rate of SOFR plus a margin of 2.0% and has a maturity date as of December 31, 2025. The Company’s share of CTTC’s initial expenses amounted to $0.6 million and $0.2 million for the six months ended June 30, 2025 and June 30, 2024, respectively, and is presented in the consolidated statements of income under “Equity loss on investments”.
v3.25.2
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction
 6 Months Ended
Jun. 30, 2025
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction  
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction

4     Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction

​

In June 2025, the Company entered into a contract with Qingdao Yangfan shipyard for the construction of a 6,014 TEU container vessel with expected delivery in the second quarter of 2027.

​

In January 2025, the Company took delivery of a 6,014 TEU newbuild container vessel, named Phoebe, which commenced a long-term charter upon delivery. In 2024, the Company took delivery of four 8,010 TEU newbuild container vessels and two 7,165 TEU newbuild container vessels. Each of these six newbuild vessels delivered to the Company commenced a long-term time charter upon delivery. Additionally, in 2024, the Company entered into agreements to acquire 3 Capesize bulk carriers built in 2010 through 2011 that aggregate 529,704 DWT for a total purchase price of $79.8 million. Two of these vessels were delivered to the Company in the second quarter of 2024 and one in the third quarter of 2024.

4     Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction (Continued)

In March 2024, the Company sold for scrap the vessel Stride, which had been off-hire since January 8, 2024 due to damage from a fire in the engine room that was subsequently contained. The Company recognized $11.9 million of net insurance proceeds for total loss of vessel and recorded a gain on the disposal of this vessel amounting to $8.3 million in the year ended December 31, 2024, separately presented under “Net gain on disposal/sale of vessels” in the Consolidated Statements of Income.

In April 2023, the Company entered into contracts for the construction of two 6,014 TEU container vessels with expected vessel deliveries in 2025, one of which was delivered in the first quarter of 2025. In June 2023, the Company entered into contracts for the construction of two 8,258 TEU container vessels with expected vessel deliveries in 2026. In February and March 2024, the Company entered into contracts for the construction of four 8,258 TEU container vessels with one of these vessels expected to be delivered in 2026 and the remaining three vessels expected to be delivered in 2027. In June and July 2024 the Company entered into contracts for the construction of one 8,258 TEU and five 9,200 TEU container vessels with four of these vessels expected to be delivered in 2027 and the remaining two vessels expected to be delivered in 2028. In December 2024, the Company entered into contracts for the construction of two 9,200 TEU vessels with expected deliveries in 2027. In June 2025, the Company entered into a contract for the construction of one 6,014 TEU container vessel, expected to be delivered in 2027. The aggregate purchase price of the remaining sixteen vessel construction contracts amounts to $1,516.6 million, out of which $62.2 million, $180.4 million and $40.0 million was paid in the six months ended June 30, 2025 and in the years ended December 31, 2024 and 2023, respectively.

The remaining contractual commitments of the remaining 16 vessel construction contracts are analyzed as follows as of June 30, 2025 (in thousands):

​

​

​

​

Payments due by period ended

    

$ thousands

December 31, 2025

​

$

113,844

December 31, 2026

​

 

435,240

December 31, 2027

​

 

590,392

December 31, 2028

​

 

94,500

Total contractual commitments

​

$

1,233,976

​

Additionally, a supervision fee of $850 thousand per newbuilding vessel is payable to Danaos Shipping Company Limited (the “Manager”) over the construction period. Supervision fees totaling $0.6 million and $3.0 million were charged by the Manager and capitalized to the vessels under construction in the six months ended June 30, 2025 and in the year ended December 31, 2024, respectively. Interest expense amounting to $9.3 million and $21.5 million was capitalized to the vessels under construction in the six months ended June 30, 2025 and in the year ended December 31, 2024, respectively.

The Company assumed time charter liabilities related to its acquisition of vessels in the second half of 2021. The amortization of these assumed time charters amounted to nil and $4.5 million in the six months ended June 30, 2025 and June 30, 2024, respectively and is presented under “Operating revenues” in the condensed consolidated statement of income.
v3.25.2
Deferred Charges, net
 6 Months Ended
Jun. 30, 2025
Deferred Charges, net  
Deferred Charges, net

5     Deferred Charges, net

​

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

​

​

​

​

​

​

​

Drydocking and

​

    

Special Survey Costs

As of January 1, 2024

​

$

38,012

Additions

​

​

50,568

Write-off

​

​

(660)

Amortization

​

 

(29,161)

As of December 31, 2024

​

​

58,759

Additions

​

 

27,805

Write-off

​

 

—

Amortization

​

​

(22,485)

As of June 30, 2025

​

$

64,079

​

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 and not at the conclusion of the drydocking.
v3.25.2
Other Current and Non-current Assets
 6 Months Ended
Jun. 30, 2025
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):

​

​

​

​

​

​

​

​

​

​

As of

​

As of

​

    

June 30, 2025

    

December 31, 2024

Straight-lining of revenue

​

$

25,268

​

$

22,170

Marketable securities

​

​

107,919

​

​

60,850

Claims receivable

​

​

14,970

​

​

14,387

Other current assets

​

​

10,005

​

​

16,243

Total other current assets

​

$

158,162

​

$

113,650

​

​

​

​

​

​

​

Straight-lining of revenue

​

$

39,319

​

$

47,423

Other non-current assets

​

​

20,969

​

​

10,358

Total other non-current assets

​

$

60,288

​

$

57,781

​

In June 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) consisting of 1,552,865 shares of common stock for $68.2 million (out of which $24.4 million from Virage International Ltd., a related company). EGLE owned and operated a fleet of bulk carriers.

​

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 six months ended June 30, 2025, the Company purchased an additional 2,185,967 shares of common stock of “SBLK” in the open market for $29.9 million. As a result, as of June 30, 2025, the Company owned 6,256,181 shares of SBLK common stock and this has remained the same through the date of this report.

6     Other Current and Non-current Assets (Continued)

As of June 30, 2025 and December 31, 2024, these marketable securities were fair valued at $107.9 million and $60.9 million, respectively and the Company recognized a $17.2 million gain and a $13.2 million gain, respectively on these marketable securities reflected under “Gain on investments” in the condensed consolidated statements of income in the six months ended June 30, 2025 and June 30, 2024, respectively. Additionally, the Company recognized dividend income on these shares amounting to $0.7 million in the six months ended June 30, 2025 and $4.0 million for the six months ended June 30, 2024.
v3.25.2
Accrued Liabilities
 6 Months Ended
Jun. 30, 2025
Accrued Liabilities  
Accrued Liabilities

7     Accrued Liabilities

​

Accrued liabilities consisted of the following (in thousands):

​

​

​

​

​

​

​

​

​

    

As of

    

As of

​

​

June 30, 2025

​

December 31, 2024

Accrued interest

​

$

9,846

​

$

10,599

Accrued dry-docking expenses

​

​

3,146

​

​

5,334

Accrued expenses

​

​

10,393

​

 

7,711

Total

​

$

23,385

​

$

23,644

​

Accrued expenses mainly consisted of accruals related to the operation of the Company’s fleet as of June 30, 2025 and December 31, 2024.
v3.25.2
Long-Term Debt, net
 6 Months Ended
Jun. 30, 2025
Long-Term Debt, net  
Long-Term Debt, net

8     Long-Term Debt, net

​

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

​

​

​

​

​

​

​

​

​

​

Balance as of

​

Balance as of

Credit Facility

    

June 30, 2025

    

December 31, 2024

BNP Paribas/Credit Agricole $130 mil. Facility

​

$

82,400

​

$

86,200

Alpha Bank $55.25 mil. Facility

​

​

36,500

​

​

40,250

Syndicated $450.0 mil. Facility

​

​

388,660

​

​

355,330

Citibank $382.5 mil. Revolving Credit Facility

​

​

—

​

​

—

Syndicated $850.0 mil. Facility

​

​

—

​

​

—

Senior unsecured notes

​

​

262,766

​

​

262,766

Total long-term debt

​

$

770,326

​

$

744,546

Less: Deferred finance costs, net

​

​

(9,132)

​

​

(9,763)

Less: Current portion

​

​

(37,660)

​

​

(35,220)

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

​

$

723,534

​

$

699,563

​

In February 2025, the Company entered into a syndicated loan facility agreement for a maximum principal amount of up to $850 million (the “Syndicated $850.0 mil. Facility”), to finance a portion of the purchase price of fourteen 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 of 1.65% and commitment fee of 0.50%.

​

In March 2024, the Company entered into a syndicated loan facility agreement for a maximum principal amount of up to $450 million (the “Syndicated $450.0 mil. Facility”), which is secured by eight of the Company’s container vessels one of which is under construction and expected to be delivered in the fourth quarter of 2025.

8    Long-Term Debt, net (Continued)

The facility is being drawn in separate vessel tranches upon delivery of each vessel and as of June 30, 2025, a $44 million tranche is expected to be utilized during the fourth quarter of 2025 upon delivery of the final vessel. Each vessel tranche is repayable in 20 equal quarterly instalments ranging between $0.6 and $0.9 million per tranche followed by a final payment on the fifth anniversary of each vessel’s tranche of between $31.8 million and $45.5 million per tranche up to September 2030. The facility bears interest at SOFR plus a margin of 1.85% and commitment fee of 0.74%.

In June 2022, the Company put in place a $130.0 million senior secured term loan facility with BNP Paribas and Credit Agricole, which is secured by six 5,466 TEU sister vessels acquired in 2021.

This 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 bears interest at SOFR plus a margin of 2.16% as adjusted by the sustainability margin adjustment.

In December 2022, the Company early extinguished the remaining $437.75 million of the Citibank/Natwest $815 mil. Facility and replaced it with a $382.5 million Revolving Credit Facility with Citibank, out of which nil is drawn down as of June 30, 2025, and with a $55.25 million credit facility with Alpha Bank, which was utilized in full. The Citibank $382.5 mil. Revolving Credit Facility is reducing and repayable over 5 years in 20 quarterly reductions of $11.25 million each together with a final reduction of $157.5 million at maturity in December 2027. This facility bears interest at SOFR plus a margin of 2.0% and commitment fee of 0.8% on undrawn availability and is secured by sixteen of the Company’s vessels. The Alpha Bank $55.25 mil. facility is repayable over 5 years with 20 consecutive quarterly instalments of $1.875 million each, together with a balloon payment of $17.75 million at maturity in December 2027. This facility bears interest at SOFR plus a margin of 2.3% and is secured by two of the Company’s vessels.

The Company incurred interest expense amounting to $27.4 million, out of which $9.3 million was capitalized in the six months ended June 30, 2025 compared to $18.7 million of interest expense incurred, out of which $11.4 million was capitalized in the six months ended June 30, 2024.

As of June 30, 2025, there was a $270 million remaining borrowing availability under the Company’s Citibank $382.5 mil. Revolving Credit Facility, $44 million under the Syndicated $450 million Facility and $850 million under the Syndicated $850 million Facility. Thirty-one of the Company’s vessels having a net carrying value of $2,053.7 million as of June 30, 2025 and fifteen container vessels under construction, were subject to first preferred mortgages as collateral to the Company’s credit facilities other than its senior unsecured notes.

On February 11, 2021, the Company issued in a private placement, $300.0 million aggregate principal amount of senior unsecured notes, which bear interest at a fixed rate of 8.50% per annum and mature on March 1, 2028. At any time on or after March 1, 2024, March 1, 2025 and March 1, 2026 the Company may elect to redeem all or any portion of the notes, respectively, at a price equal to 104.25%, 102.125% and 100%, respectively, of the principal amount being redeemed. Prior to March 1, 2024 the Company may redeem up to 35% of the aggregate principal of the notes from equity offering proceeds at a price equal to 108.50% within 90 days after the equity offering closing. In December 2022, the Company repurchased $37.2 million aggregate principal amount of its unsecured senior notes in a privately negotiated transaction. Interest payments on the notes are payable semi-annually commencing on September 1, 2021. $9.0 million of bond issuance costs were deferred and are recognized over the life of the bond through the effective interest method.

8     Long-Term Debt, net (Continued)

The scheduled debt maturities of long-term debt subsequent to June 30, 2025 are as follows (in thousands):

​

​

​

​

​

​

​

Principal

Payments due by period ending

    

repayments

June 30, 2026

​

$

37,660

June 30, 2027

​

​

104,860

June 30, 2028

​

​

306,826

June 30, 2029

​

​

153,260

June 30, 2030

​

​

167,720

Total long-term debt

​

$

770,326

​

Alpha Bank $55.25 mil. Facility, Citibank $382.5 mil. Revolving Credit Facility, Syndicated $450.0 mil. Facility and Syndicated $850.0 mil. Facility contain a requirement to maintain minimum fair market value of collateral vessels to loan value coverage of 120% and the BNP Paribas/Credit Agricole $130 mil. Facility of 125%. Additionally, these facilities require 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 credit facilities except for senior unsecured notes are collateralized by first preferred mortgages over the vessels financed, general assignment of all hire freights, income and earnings, the assignment of their insurance policies, as well as any proceeds from the sale of mortgaged vessels, stock pledges and benefits from corporate guarantees. The Company was in compliance with the financial covenants contained in the credit facilities agreements as of June 30, 2025 and December 31, 2024.
v3.25.2
Financial Instruments
 6 Months Ended
Jun. 30, 2025
Financial Instruments  
Financial Instruments

9     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.

​

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 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.

9     Financial Instruments (Continued)

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, 2025 and 2024, 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, 2025 and December 31, 2024.

​

The estimated fair values of the Company’s financial instruments are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of June 30, 2025

​

As of December 31, 2024

​

    

Book Value

    

Fair Value

    

Book Value

    

Fair Value

​

​

(in thousands of $)

Cash and cash equivalents

​

$

546,164

​

$

546,164

​

$

453,384

​

$

453,384

Marketable securities

​

$

107,919

​

$

107,919

​

$

60,850

​

$

60,850

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

​

$

507,560

​

$

507,560

​

$

481,780

​

$

481,780

Unsecured long-term debt(1)

​

$

262,766

​

$

226,291

​

$

262,766

​

$

259,834

​

​

9     Financial Instruments (Continued)

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, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Fair Value Measurements as of June 30, 2025

​

    

Total

    

(Level I)

    

(Level II)

    

(Level III)

​

​

(in thousands of $)

Marketable securities

​

$

107,919

​

$

107,919

​

$

—

​

$

—

​

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, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of June 30, 2025

​

    

Total

    

(Level I)

    

 (Level II)

    

(Level III)

​

​

​

(in thousands of $)

Cash and cash equivalents

​

$

546,164

​

$

546,164

​

$

—

​

$

—

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

​

$

507,560

​

$

—

​

$

507,560

​

$

—

Unsecured long-term debt(1)

​

$

226,291

​

$

226,291

​

$

—

​

$

—

​

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, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2024

​

    

Total

    

(Level I)

    

(Level II)

    

(Level III)

​

 

(in thousands of $)

Marketable securities

​

$

60,850

​

$

60,850

​

$

—

​

$

—

​

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, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2024

​

    

Total

    

(Level I)

    

(Level II)

    

(Level III)

​

​

(in thousands of $)

Cash and cash equivalents

​

$

453,384

​

$

453,384

​

$

—

​

$

—

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

​

$

481,780

​

$

—

​

$

481,780

​

$

—

Unsecured long-term debt(1)

​

$

259,834

​

$

259,834

​

$

—

​

$

—

(1)Secured and unsecured long-term debt, including current portion is presented gross of deferred finance costs of $9.1 million and $9.8 million as of June 30, 2025 and December 31, 2024, 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.
v3.25.2
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies  
Commitments and Contingencies

10    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, 2025, see Note 4 “Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction”.

​
v3.25.2
Stockholders' Equity
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity  
Stockholders' Equity

11    Stockholders’ Equity

​

In the 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. In the period ended June 30, 2024, the Company declared a dividend of $0.80 per share of common stock paid in each of March and June amounting to $31.0 million.The Company issued 98 and 11 shares of common stock pursuant to its dividends reinvestment plan in the periods ended June 30, 2025 and June 30, 2024, respectively.

​

In June 2022, the Company announced a share repurchase program of up to $100 million of the Company’s common stock. This share repurchase program was upsized by $100 million on November 10, 2023 and by an additional $100 million on April 14, 2025 for a total aggregate amount of $300 million. The Company repurchased 678,060 shares of the Company’s common stock in the open market for $52.7 million in the six months ended June 30, 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 period ended December 31, 2022. In total, as of June 30, 2025, the Company had repurchased a total of 2,937,158 shares of common stock for $205.7 million under this repurchase program.

​

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 December 2024, the Company granted 30,000 shares of restricted stock to certain employees of the Manager, out of which 2,000 shares are scheduled to vest in December 2025, 4,000 shares in December 2026, 8,000 shares in December 2027 and the remaining 16,000 shares in December 2028. 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 4 year period. In relation to the vesting of these 30,000 restricted shares to certain employees of the Manager and the 100,000 shares to vest to the Manager at the end of 2025 under the amended and restated management agreement (please refer to Note 14 “Related Party Transactions”), an amount of $3.4 million was expensed in the six months ended June 30, 2025 and an additional $3.5 million is expected to be recognized as stock based compensation to the Manager for the remainder of 2025.

​

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.

​

In November 2024, the Company granted 100,000 fully vested shares to executive officers.

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. 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 December 31 of each year, the Company delivers to each Director the number of shares represented by the rights credited to their Share Payment Account during the preceding calendar year. During the six months ended June 30, 2025 and June 30, 2024, none of the directors elected to receive their compensation in Company shares.
v3.25.2
Lease Arrangements
 6 Months Ended
Jun. 30, 2025
Lease Arrangements  
Lease Arrangements

12    Lease Arrangements

​

Charters-out

​

As of June 30, 2025, the Company generated leasing operating revenues from its 74 container vessels on time charter or bareboat charter agreements, with remaining terms ranging from less than one year to October 2031. Additionally, the Company contracted 5- year and 7-year time charter agreements for fifteen out of the sixteen container vessels under construction as of June 30, 2025. 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 three 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, 2025, the outstanding balances of the current and non-current portion of unearned revenue in relation to this prepayment amounted to $27.6 million and $11.2 million, respectively. As of December 31, 2024, the outstanding balances of the current and non-current portion of unearned revenue in relation to this prepayment amounted to $37.2 million and $22.9 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, 2025 (in thousands):

​

​

​

​

​

Period

​

$ thousands

Remainder of 2025

    

$

469,228

2026

 

​

864,217

2027

 

​

669,928

2028

 

​

463,747

2029

​

​

347,631

2030 and thereafter

 

​

673,797

Total future rentals

​

$

3,488,548

​

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.
v3.25.2
Earnings per Share
 6 Months Ended
Jun. 30, 2025
Earnings per Share  
Earnings per Share

13    Earnings per Share

​

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

​

​

​

​

​

​

​

​

​

​

Three months ended

​

    

June 30, 2025

    

June 30, 2024

​

​

(in thousands)

Numerator:

​

​

​

​

​

​

Net income

​

$

130,904

​

$

141,152

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

​

​

​

​

​

Basic weighted average common shares outstanding

​

 

18,344

​

 

19,348

Effect of dilutive securities:

​

 

​

​

 

​

Dilutive effect of non-vested shares

​

 

52

​

 

172

Diluted weighted average common shares outstanding

​

 

18,396

​

 

19,520

Basic earnings per share (in $ per share)

​

$

7.14

​

$

7.30

Diluted earnings per share (in $ per share)

​

$

7.12

​

$

7.23

​

​

​

​

​

​

​

​

​

​

Six months ended

​

    

June 30, 2025

    

June 30, 2024

​

​

(in thousands)

Numerator:

​

​

​

​

​

​

Net income

​

$

246,051

​

$

291,650

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

 

​

​

 

​

Basic weighted average common shares outstanding

​

​

18,546

​

​

19,380

Effect of dilutive securities:

​

​

​

​

​

​

Dilutive effect of non-vested shares

​

​

42

​

​

172

Diluted weighted average common shares outstanding

​

​

18,588

​

​

19,552

Basic earnings per share (in $ per share)

​

$

13.27

​

$

15.05

Diluted earnings per share (in $ per share)

​

$

13.24

​

$

14.92

​
v3.25.2
Related Party Transactions
 6 Months Ended
Jun. 30, 2025
Related Party Transactions  
Related Party Transactions

14    Related Party Transactions

​

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

14    Related Party Transactions (Continued)

​

Management fees to the Manager amounted to $15.3 million and $13.9 million in the six months ended June 30, 2025 and 2024, respectively, and are presented under “General and administrative expenses” in the condensed consolidated statements of income. Additionally, supervision fees for vessels under construction totaling $0.6 million and $3.0 million were charged by the Manager and capitalized to vessels under construction costs in the six months ended June 30, 2025 and the year ended December 31, 2024, respectively.

​

We also entered into a brokerage services agreement with Danaos Chartering Services Inc. (“Danaos Chartering”) for the provision of such commercial services for the same fees previously payable to Danaos Shipping being: (i) a fee of 1.25% on all freight, charter hire, ballast bonus and demurrage for each vessel, (ii) 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, effective as of January 1, 2025. Danaos Chartering is a newly-formed affiliate of Danaos Shipping, and is also ultimately owned by DIL, the Company’s largest stockholder.

​

Commercial services commissions amounted to $6.4 million and $5.9 million in the six months ended June 30, 2025 and 2024, respectively and are presented under “Voyage expenses” in the condensed consolidated statements of income. Commissions on acquisition of vessels totaling $0.6 million and $6.0 million in the six months ended June 30, 2025 and year ended December 31, 2024, respectively, were capitalized to the cost of the acquired vessels.

​

The balance “Due from related parties” in the condensed consolidated balance sheets totaling $49.1 million and $52.6 million as of June 30, 2025 and December 31, 2024, respectively, represents advances to the Manager on account of the vessels’ operating and other expenses. Defined benefit obligation for the executive officers of $15.1 million and $12.9 million is presented under “Other long-term liabilities” in the condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024. The Company recognized prior service cost and periodic cost of this defined benefit executive retirement plan amounting to $2.8 million and $0.7 million in the six months ended June 30, 2025 and June 30, 2024, respectively.

v3.25.2
Operating Revenue
 6 Months Ended
Jun. 30, 2025
Operating Revenue  
Operating Revenue

15    Operating Revenue

​

Operating revenue from time charters and bareboat charters and voyage charters for the six months ended June 30, 2025 and 2024, were as follows:

​

​

​

​

​

​

​

​

​

​

Six months ended

​

    

June 30, 2025

    

June 30, 2024

Time charters and bareboat charters

​

$

488,717

​

$

476,853

Voyage charters

​

 

26,744

​

 

22,902

Total Revenue

​

$

515,461

​

$

499,755

​

As of June 30, 2025 and December 31, 2024, the Company had accounts receivable from voyage charter agreements amounting to $1.4 million and $0.4 million, respectively. The charter hire received in advance from voyage charter agreements amounting to $2.2 million and $1.7 million is presented under current “Unearned revenue” as of June 30, 2025 and December 31, 2024, respectively. Unearned revenue as of December 31, 2024 was recognized in earnings in the six months ended June 30, 2025 as the performance obligations were satisfied in that period. Unearned revenue related to voyage charter agreements in progress as of June 30, 2025 will be recognized in earnings as performance obligations will be satisfied.
v3.25.2
Segments
 6 Months Ended
Jun. 30, 2025
Segments  
Segments

16    Segments

​

Until the acquisition of the drybulk vessels in 2023, the Company reported financial information and evaluated its operations by total charter revenues. Since 2023, for management purposes, the Company is organized based on operating revenues generated from container vessels and drybulk vessels and has 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, chief executive officer monitors and assesses the performance of the container vessels segment and the drybulk vessels segment based on net income. Items included in the applicable segment’s net income are directly allocated to the extent that the items are directly or indirectly attributable to the segments. With regards to the items that are allocated by indirect calculations, their allocation is commensurate to the utilization of key resources. Investments in marketable securities and investments in affiliates accounted for using the equity method accounting are not allocated to any of the Company’s reportable segments.

​

The following table summarizes our selected financial information for the six months ended and as of June 30, 2025, by segment (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Dry bulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2025 (thousands US$)

    

segment

    

segment

    

Total

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

​

 

7,208

​

 

—

​

 

7,208

Interest expense

​

 

(19,714)

​

 

—

​

 

(19,714)

Other segment items (1)

​

​

(25,481)

​

​

(2,569)

​

​

(28,050)

Net Income per segment

​

$

234,938

​

$

(6,276)

​

$

228,662

Gain on investments, dividend income and equity loss on investments, net of interest income

​

 

​

​

 

​

​

 

17,389

Net Income

​

​

​

​

​

​

​

$

246,051

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

​

​

​

​

​

​

​

​

​

​

​

​

    

Container

    

Dry bulk

    

​

​

Balance Sheet Metrics as of June 30, 2025

​

vessels

​

vessels

​

​

​

(thousands US$)

​

segment

​

segment

​

Total

Total Assets per segment

​

$

4,147,326

​

$

265,676

​

$

4,413,002

Marketable Securities

​

​

​

​

​

​

​

​

107,919

Receivable from affiliates

​

​

​

​

​

​

​

​

239

Total Assets

​

​

​

​

​

​

​

$

4,521,160

​

​

16    Segments (Continued)

The following table summarizes our selected financial information for the six months ended and as of June 30, 2024, by segment (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Dry bulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2024 (thousands US$)

    

segment

    

segment

    

Total

Operating revenues

​

$

463,997

​

$

35,758

​

$

499,755

Voyage expenses

 

​

(16,741)

 

​

(16,279)

 

​

(33,020)

Vessel operating expenses

 

​

(79,430)

 

​

(10,774)

 

​

(90,204)

Depreciation

 

​

(65,255)

 

​

(3,988)

 

​

(69,243)

Amortization of deferred drydocking and special survey costs

 

​

(12,135)

 

​

(289)

 

​

(12,424)

Interest income

 

​

5,859

 

​

—

 

​

5,859

Interest expense

 

​

(8,230)

 

​

—

 

​

(8,230)

Net gain on disposal of vessel

​

​

7,094

​

​

—

​

​

7,094

Other segment items (1)

​

​

(23,117)

​

​

(1,801)

​

​

(24,918)

Net Income per segment

​

$

272,042

 

$

2,627

​

$

274,669

Gain on investments, dividend income and equity loss on investments

​

​

​

 

​

  

​

 

16,981

Net Income

​

​

​

 

​

  

​

$

291,650

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

​

Dry bulk

​

​

​

​

​

vessels

​

​

vessels

​

​

​

Balance Sheet Metrics as of June 30, 2024 (thousands US$)

    

segment

    

 

segment

    

​

Total

Total Assets per segment

​

$

3,710,004

​

$

237,057

​

$

3,947,061

Marketable Securities

​

​

​

​

​

  

​

​

99,232

Investment in affiliates

 

​

​

​

 

  

​

 

64

Total Assets

​

​

​

​

 

  

​

$

4,046,357

​
v3.25.2
Subsequent Events
 6 Months Ended
Jun. 30, 2025
Subsequent Events  
Subsequent Events

17    Subsequent Events

The Company has declared a dividend of $0.85 per share of common stock payable on August 28, 2025, to holders of record on August 19, 2025.
v3.25.2
Basis of Presentation and General Information (Tables)
 6 Months Ended
Jun. 30, 2025
Basis of Presentation and General Information  
Schedule of the vessel owning companies (the "Danaos Subsidiaries")

Container vessels:

​

​

​

​

​

​

​

​

​

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

​

Zim 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

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

​

Maersk 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

​

Zim Luanda

​

2009

​

4,253

Bayview Shipping Inc.

​

March 22, 2006

​

Rio Grande

​

2008

​

4,253

Channelview Marine Inc.

​

March 22, 2006

​

Merve A

​

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

Vessels under construction

​

​

​

​

​

​

​

​

Boxsail (No. 4) Corp.

​

March 4, 2022

​

Hull No. CV5900-08 (3)

​

2025

​

6,014

Boxline (No. 8) Corp

​

June 6, 2025

​

Hull No. CV5900-09

​

2027

​

6,014

Boxline (No. 1) Corp.

​

June 7, 2023

​

Hull No. YZJ2023-1556

​

2026

​

8,258

Boxline (No. 2) Corp.

​

June 7, 2023

​

Hull No. YZJ2023-1557

​

2026

​

8,258

Boxline (No. 3) Corp.

​

February 2, 2024

​

Hull No. YZJ2024-1612

​

2026

​

8,258

Boxline (No. 4) Corp.

​

February 2, 2024

​

Hull No. YZJ2024-1613

​

2027

​

8,258

Boxline (No. 5) Corp.

​

March 8, 2024

​

Hull No. YZJ2024-1625

​

2027

​

8,258

Boxline (No. 6) Corp.

​

March 8, 2024

​

Hull No. YZJ2024-1626

​

2027

​

8,258

Boxline (No. 7) Corp.

​

May 30, 2024

​

Hull No. YZJ2024-1668

​

2027

​

8,258

Boxsail (No. 5) Corp.

​

June 13, 2024

​

Hull No. C9200-07

​

2027

​

9,200

Boxsail (No. 6) Corp.

​

June 13, 2024

​

Hull No. C9200-08

​

2027

​

9,200

Boxsail (No. 7) Corp.

​

June 13, 2024

​

Hull No. C9200-09

​

2027

​

9,200

Boxsail (No. 8) Corp.

​

June 13, 2024

​

Hull No. C9200-10

​

2027

​

9,200

Boxsail (No. 9) Corp.

​

June 13, 2024

​

Hull No. C9200-11

​

2027

​

9,200

Boxsail (No. 10) Corp.

​

June 13, 2024

​

Hull No. H2596

​

2027

​

9,200

Boxsail (No. 11) Corp.

​

June 13, 2024

​

Hull No. H2597

​

2027

​

9,200

(1)Twenty-feet equivalent unit, the international standard measure for containers and container vessels capacity.
(2)The vessel ‘Phoebe’ was delivered during the first quarter of 2025.
(3)The vessel is expected to be delivered during the fourth quarter of 2025.
Schedule of Dry Bulk Vessels

​

​

​

​

​

​

​

​

​

​

Company

    

Date of Incorporation

    

Vessel Name

    

Year Built

    

DWT(1)

Bulk No. 1 Corp.

​

July 14, 2023

 

Integrity

 

2010

 

175,996

Bulk No. 2 Corp.

​

July 14, 2023

 

Achievement

 

2011

 

175,850

Bulk No. 3 Corp.

​

July 14, 2023

 

Ingenuity

 

2011

 

176,022

Bulk No. 4 Corp.

​

July 14, 2023

​

Genius

 

2012

 

175,580

Bulk No. 5 Corp.

​

July 14, 2023

 

Peace

 

2010

 

175,858

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. 8 Corp.

​

January 31, 2024

​

Danaos

​

2011

​

176,536

Bulk No. 9 Corp.

​

February 2, 2024

 

Gouverneur

 

2010

 

178,043

Bulk No. 10 Corp.

​

February 15, 2024

 

Valentine

 

2011

 

175,125

(1)DWT, dead weight tons, the international standard measure for drybulk vessels capacity.
v3.25.2
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction (Tables)
 6 Months Ended
Jun. 30, 2025
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction  
Schedule of remaining contractual commitments of the remaining 16 vessel construction contracts

The remaining contractual commitments of the remaining 16 vessel construction contracts are analyzed as follows as of June 30, 2025 (in thousands):

​

​

​

​

Payments due by period ended

    

$ thousands

December 31, 2025

​

$

113,844

December 31, 2026

​

 

435,240

December 31, 2027

​

 

590,392

December 31, 2028

​

 

94,500

Total contractual commitments

​

$

1,233,976
v3.25.2
Deferred Charges, net (Tables)
 6 Months Ended
Jun. 30, 2025
Deferred Charges, net  
Schedule of deferred charges, net

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

​

​

​

​

​

​

​

Drydocking and

​

    

Special Survey Costs

As of January 1, 2024

​

$

38,012

Additions

​

​

50,568

Write-off

​

​

(660)

Amortization

​

 

(29,161)

As of December 31, 2024

​

​

58,759

Additions

​

 

27,805

Write-off

​

 

—

Amortization

​

​

(22,485)

As of June 30, 2025

​

$

64,079
v3.25.2
Other Current and Non-current Assets (Tables)
 6 Months Ended
Jun. 30, 2025
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):

​

​

​

​

​

​

​

​

​

​

As of

​

As of

​

    

June 30, 2025

    

December 31, 2024

Straight-lining of revenue

​

$

25,268

​

$

22,170

Marketable securities

​

​

107,919

​

​

60,850

Claims receivable

​

​

14,970

​

​

14,387

Other current assets

​

​

10,005

​

​

16,243

Total other current assets

​

$

158,162

​

$

113,650

​

​

​

​

​

​

​

Straight-lining of revenue

​

$

39,319

​

$

47,423

Other non-current assets

​

​

20,969

​

​

10,358

Total other non-current assets

​

$

60,288

​

$

57,781
v3.25.2
Accrued Liabilities (Tables)
 6 Months Ended
Jun. 30, 2025
Accrued Liabilities  
Schedule of accrued liabilities

Accrued liabilities consisted of the following (in thousands):

​

​

​

​

​

​

​

​

​

    

As of

    

As of

​

​

June 30, 2025

​

December 31, 2024

Accrued interest

​

$

9,846

​

$

10,599

Accrued dry-docking expenses

​

​

3,146

​

​

5,334

Accrued expenses

​

​

10,393

​

 

7,711

Total

​

$

23,385

​

$

23,644
v3.25.2
Long-Term Debt, net (Tables)
 6 Months Ended
Jun. 30, 2025
Long-Term Debt, net  
Schedule of long-term debt, net

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

​

​

​

​

​

​

​

​

​

​

Balance as of

​

Balance as of

Credit Facility

    

June 30, 2025

    

December 31, 2024

BNP Paribas/Credit Agricole $130 mil. Facility

​

$

82,400

​

$

86,200

Alpha Bank $55.25 mil. Facility

​

​

36,500

​

​

40,250

Syndicated $450.0 mil. Facility

​

​

388,660

​

​

355,330

Citibank $382.5 mil. Revolving Credit Facility

​

​

—

​

​

—

Syndicated $850.0 mil. Facility

​

​

—

​

​

—

Senior unsecured notes

​

​

262,766

​

​

262,766

Total long-term debt

​

$

770,326

​

$

744,546

Less: Deferred finance costs, net

​

​

(9,132)

​

​

(9,763)

Less: Current portion

​

​

(37,660)

​

​

(35,220)

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

​

$

723,534

​

$

699,563
Schedule of debt maturities of long-term debt

The scheduled debt maturities of long-term debt subsequent to June 30, 2025 are as follows (in thousands):

​

​

​

​

​

​

​

Principal

Payments due by period ending

    

repayments

June 30, 2026

​

$

37,660

June 30, 2027

​

​

104,860

June 30, 2028

​

​

306,826

June 30, 2029

​

​

153,260

June 30, 2030

​

​

167,720

Total long-term debt

​

$

770,326
v3.25.2
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Financial Instruments  
Schedule of estimated fair values of the financial instruments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of June 30, 2025

​

As of December 31, 2024

​

    

Book Value

    

Fair Value

    

Book Value

    

Fair Value

​

​

(in thousands of $)

Cash and cash equivalents

​

$

546,164

​

$

546,164

​

$

453,384

​

$

453,384

Marketable securities

​

$

107,919

​

$

107,919

​

$

60,850

​

$

60,850

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

​

$

507,560

​

$

507,560

​

$

481,780

​

$

481,780

Unsecured long-term debt(1)

​

$

262,766

​

$

226,291

​

$

262,766

​

$

259,834
Schedule of estimated fair value of the financial instruments that are measured at fair value on a recurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Fair Value Measurements as of June 30, 2025

​

    

Total

    

(Level I)

    

(Level II)

    

(Level III)

​

​

(in thousands of $)

Marketable securities

​

$

107,919

​

$

107,919

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2024

​

    

Total

    

(Level I)

    

(Level II)

    

(Level III)

​

 

(in thousands of $)

Marketable securities

​

$

60,850

​

$

60,850

​

$

—

​

$

—
Schedule of estimated fair value of the financial instruments, categorized based upon the fair value hierarchy

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of June 30, 2025

​

    

Total

    

(Level I)

    

 (Level II)

    

(Level III)

​

​

​

(in thousands of $)

Cash and cash equivalents

​

$

546,164

​

$

546,164

​

$

—

​

$

—

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

​

$

507,560

​

$

—

​

$

507,560

​

$

—

Unsecured long-term debt(1)

​

$

226,291

​

$

226,291

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2024

​

    

Total

    

(Level I)

    

(Level II)

    

(Level III)

​

​

(in thousands of $)

Cash and cash equivalents

​

$

453,384

​

$

453,384

​

$

—

​

$

—

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

​

$

481,780

​

$

—

​

$

481,780

​

$

—

Unsecured long-term debt(1)

​

$

259,834

​

$

259,834

​

$

—

​

$

—

(1)Secured and unsecured long-term debt, including current portion is presented gross of deferred finance costs of $9.1 million and $9.8 million as of June 30, 2025 and December 31, 2024, 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.
v3.25.2
Lease Arrangements (Tables)
 6 Months Ended
Jun. 30, 2025
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, 2025 (in thousands):

​

​

​

​

​

Period

​

$ thousands

Remainder of 2025

    

$

469,228

2026

 

​

864,217

2027

 

​

669,928

2028

 

​

463,747

2029

​

​

347,631

2030 and thereafter

 

​

673,797

Total future rentals

​

$

3,488,548
v3.25.2
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings per Share  
Schedule of computation of basic and diluted earnings per share

​

​

​

​

​

​

​

​

​

​

Three months ended

​

    

June 30, 2025

    

June 30, 2024

​

​

(in thousands)

Numerator:

​

​

​

​

​

​

Net income

​

$

130,904

​

$

141,152

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

​

​

​

​

​

Basic weighted average common shares outstanding

​

 

18,344

​

 

19,348

Effect of dilutive securities:

​

 

​

​

 

​

Dilutive effect of non-vested shares

​

 

52

​

 

172

Diluted weighted average common shares outstanding

​

 

18,396

​

 

19,520

Basic earnings per share (in $ per share)

​

$

7.14

​

$

7.30

Diluted earnings per share (in $ per share)

​

$

7.12

​

$

7.23

​

​

​

​

​

​

​

​

​

​

Six months ended

​

    

June 30, 2025

    

June 30, 2024

​

​

(in thousands)

Numerator:

​

​

​

​

​

​

Net income

​

$

246,051

​

$

291,650

​

​

​

​

​

​

​

Denominator (number of shares in thousands):

​

 

​

​

 

​

Basic weighted average common shares outstanding

​

​

18,546

​

​

19,380

Effect of dilutive securities:

​

​

​

​

​

​

Dilutive effect of non-vested shares

​

​

42

​

​

172

Diluted weighted average common shares outstanding

​

​

18,588

​

​

19,552

Basic earnings per share (in $ per share)

​

$

13.27

​

$

15.05

Diluted earnings per share (in $ per share)

​

$

13.24

​

$

14.92

​
v3.25.2
Operating Revenue (Tables)
 6 Months Ended
Jun. 30, 2025
Operating Revenue  
Schedule of operating revenue from time charters and bareboat charters and voyage charters

​

​

​

​

​

​

​

​

​

​

Six months ended

​

    

June 30, 2025

    

June 30, 2024

Time charters and bareboat charters

​

$

488,717

​

$

476,853

Voyage charters

​

 

26,744

​

 

22,902

Total Revenue

​

$

515,461

​

$

499,755
v3.25.2
Segments (Tables)
 6 Months Ended
Jun. 30, 2025
Segments  
Schedule of the company's selected financial information

The following table summarizes our selected financial information for the six months ended and as of June 30, 2025, by segment (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Dry bulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2025 (thousands US$)

    

segment

    

segment

    

Total

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

​

 

7,208

​

 

—

​

 

7,208

Interest expense

​

 

(19,714)

​

 

—

​

 

(19,714)

Other segment items (1)

​

​

(25,481)

​

​

(2,569)

​

​

(28,050)

Net Income per segment

​

$

234,938

​

$

(6,276)

​

$

228,662

Gain on investments, dividend income and equity loss on investments, net of interest income

​

 

​

​

 

​

​

 

17,389

Net Income

​

​

​

​

​

​

​

$

246,051

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

​

​

​

​

​

​

​

​

​

​

​

​

    

Container

    

Dry bulk

    

​

​

Balance Sheet Metrics as of June 30, 2025

​

vessels

​

vessels

​

​

​

(thousands US$)

​

segment

​

segment

​

Total

Total Assets per segment

​

$

4,147,326

​

$

265,676

​

$

4,413,002

Marketable Securities

​

​

​

​

​

​

​

​

107,919

Receivable from affiliates

​

​

​

​

​

​

​

​

239

Total Assets

​

​

​

​

​

​

​

$

4,521,160

The following table summarizes our selected financial information for the six months ended and as of June 30, 2024, by segment (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

Dry bulk

​

​

​

Income Statement Metrics for the six months

​

vessels

​

vessels

​

​

​

ended June 30, 2024 (thousands US$)

    

segment

    

segment

    

Total

Operating revenues

​

$

463,997

​

$

35,758

​

$

499,755

Voyage expenses

 

​

(16,741)

 

​

(16,279)

 

​

(33,020)

Vessel operating expenses

 

​

(79,430)

 

​

(10,774)

 

​

(90,204)

Depreciation

 

​

(65,255)

 

​

(3,988)

 

​

(69,243)

Amortization of deferred drydocking and special survey costs

 

​

(12,135)

 

​

(289)

 

​

(12,424)

Interest income

 

​

5,859

 

​

—

 

​

5,859

Interest expense

 

​

(8,230)

 

​

—

 

​

(8,230)

Net gain on disposal of vessel

​

​

7,094

​

​

—

​

​

7,094

Other segment items (1)

​

​

(23,117)

​

​

(1,801)

​

​

(24,918)

Net Income per segment

​

$

272,042

 

$

2,627

​

$

274,669

Gain on investments, dividend income and equity loss on investments

​

​

​

 

​

  

​

 

16,981

Net Income

​

​

​

 

​

  

​

$

291,650

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

Container

​

​

Dry bulk

​

​

​

​

​

vessels

​

​

vessels

​

​

​

Balance Sheet Metrics as of June 30, 2024 (thousands US$)

    

segment

    

 

segment

    

​

Total

Total Assets per segment

​

$

3,710,004

​

$

237,057

​

$

3,947,061

Marketable Securities

​

​

​

​

​

  

​

​

99,232

Investment in affiliates

 

​

​

​

 

  

​

 

64

Total Assets

​

​

​

​

 

  

​

$

4,046,357

​
v3.25.2
Basis of Presentation and General Information (Details)
Jun. 30, 2025
item
$ / shares
shares
Dec. 31, 2024
$ / 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
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  
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 (ex CMA CGM 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  
Catherine C    
Property, Plant and Equipment    
TEU 8,010  
Savannah    
Property, Plant and Equipment    
TEU 6,402  
Dimitra C    
Property, Plant and Equipment    
TEU 6,402  
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  
Maersk 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  
Zim Luanda    
Property, Plant and Equipment    
TEU 4,253  
Rio Grande    
Property, Plant and Equipment    
TEU 4,253  
Merve A    
Property, Plant and Equipment    
TEU 4,253  
Kingston (ex Zim 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  
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  
Singapore    
Property, Plant and Equipment    
TEU 3,314  
Colombo    
Property, Plant and Equipment    
TEU 3,314  
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  
Phoebe    
Property, Plant and Equipment    
TEU 6,014  
Hull No. CV5900-08    
Property, Plant and Equipment    
TEU 6,014  
Hull No. CV5900-09    
Property, Plant and Equipment    
TEU 6,014  
Hull No. YZJ2023-1556    
Property, Plant and Equipment    
TEU 8,258  
Hull No. YZJ2023-1557    
Property, Plant and Equipment    
TEU 8,258  
Hull No. Yzj 2024-1612    
Property, Plant and Equipment    
TEU 8,258  
Hull No. Yzj 2024-1613    
Property, Plant and Equipment    
TEU 8,258  
Hull No. Yzj 2024-1625    
Property, Plant and Equipment    
TEU 8,258  
Hull No. Yzj 2024-1626    
Property, Plant and Equipment    
TEU 8,258  
Hull No. YZJ2024-1668    
Property, Plant and Equipment    
TEU 8,258  
Hull No. C9200-07    
Property, Plant and Equipment    
TEU 9,200  
Hull No. C9200-08    
Property, Plant and Equipment    
TEU 9,200  
Hull No. C9200-09    
Property, Plant and Equipment    
TEU 9,200  
Hull No. C9200-10    
Property, Plant and Equipment    
TEU 9,200  
Hull No. C9200-11    
Property, Plant and Equipment    
TEU 9,200  
Hull No. H2596    
Property, Plant and Equipment    
TEU 9,200  
Hull No. H2597    
Property, Plant and Equipment    
TEU 9,200  
v3.25.2
Basis of Presentation and General Information - Capesize drybulk vessels (Details)
Jun. 30, 2025
t
Integrity  
Property, Plant and Equipment  
Capesize drybulk vessels 175,996
Achievement  
Property, Plant and Equipment  
Capesize drybulk vessels 175,850
Ingenuity  
Property, Plant and Equipment  
Capesize drybulk vessels 176,022
Genius  
Property, Plant and Equipment  
Capesize drybulk vessels 175,580
Peace  
Property, Plant and Equipment  
Capesize drybulk vessels 175,858
W Trader  
Property, Plant and Equipment  
Capesize drybulk vessels 175,879
E Trader  
Property, Plant and Equipment  
Capesize drybulk vessels 175,886
Danaos  
Property, Plant and Equipment  
Capesize drybulk vessels 176,536
Gouverneur  
Property, Plant and Equipment  
Capesize drybulk vessels 178,043
Valentine  
Property, Plant and Equipment  
Capesize drybulk vessels 175,125
v3.25.2
Investments in Affiliates (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Mar. 31, 2023
Schedule of Equity Method Investments [Line Items]            
Equity loss on investments $ (333) $ (97) $ (565) $ (206)    
CTTC            
Schedule of Equity Method Investments [Line Items]            
Amount invested           $ 4,300
Ownership interest percentage           49.00%
Payments for Advance to Affiliate     $ 2,100   $ 2,100  
Interest rate (as a percent) 2.00%   2.00%   2.00%  
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]     us-gaap:SecuredOvernightFinancingRateSofrMember   us-gaap:SecuredOvernightFinancingRateSofrMember  
Equity loss on investments     $ 600 $ 200    
v3.25.2
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction (Details)
$ in Thousands
 1 Months Ended 2 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
USD ($)
item
Jan. 31, 2025
item
Dec. 31, 2024
item
Jul. 31, 2024
item
Jun. 30, 2024
item
Mar. 31, 2024
USD ($)
Jun. 30, 2023
item
Apr. 30, 2023
item
Mar. 31, 2024
item
Mar. 31, 2025
item
Sep. 30, 2024
item
Jun. 30, 2024
USD ($)
item
Jun. 30, 2025
USD ($)
item
Jun. 30, 2024
USD ($)
Dec. 31, 2028
item
Dec. 31, 2027
item
Dec. 31, 2026
item
Dec. 31, 2024
USD ($)
item
t
Dec. 31, 2023
USD ($)
Feb. 03, 2025
USD ($)
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Number of vessels delivered                                   6    
Net gain on disposal of vessel | $                       $ 7,094   $ 7,094            
Interest expense capitalized | $                         $ 9,300 11,400            
Amortization of assumed time charters | $                         0 $ 4,534            
Manager                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Supervision fee per new building vessel payable | $ $ 850                       850             $ 850
Supervision fees for vessels capitalized | $                         600         $ 3,000    
Stride                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Insurance proceeds | $           $ 11,900                            
Net gain on disposal of vessel | $                                   8,300    
Vessesls under Construction                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Interest expense capitalized | $                         $ 9,300         $ 21,500    
6,014 TEU                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
TEU of vessels contracted for construction 6,014 6,014                                    
Number of vessels contracted for construction 1                                      
Two 6,014 TEU                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
TEU of vessels contracted for construction               6,014                        
Number of vessels delivered                   1                    
Number of vessels contracted for construction               2                        
Two 8,258 TEU                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
TEU of vessels contracted for construction             8,258                          
Number of vessels contracted for construction             2                          
Four 8,258 TEU                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
TEU of vessels contracted for construction                 8,258                      
Number of vessels contracted for construction                 4                      
Four 8,258 TEU | Forecast                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Number of vessels expected to be delivered                               3 1      
One 8,258 and five 9200 twenty-feet equivalent | Forecast                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Number of vessels expected to be delivered                             2 4        
One 8,258 TEU                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
TEU of vessels contracted for construction         8,258                              
Number of vessels contracted for construction         1                              
Five 9,200 TEU Vessels                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
TEU of vessels contracted for construction       9,200                                
Number of vessels contracted for construction       5                                
8,010 TEU Container Vessels                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Number of Container Vessels                                   4    
TEU of container vessels acquired                                   8,010    
7,165 TEU Container Vessels                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Number of Container Vessels                                   2    
TEU of container vessels acquired                                   7,165    
Two 9,200 TEU Vessels                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
TEU of vessels contracted for construction     9,200                                  
Number of vessels contracted for construction     2                                  
TEU container vessels | Vessesls under Construction                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Number of vessels under construction 16                       16              
Aggregate purchase price | $ $ 1,516,600                       $ 1,516,600              
Payments for purchase price of construction assets | $                         $ 62,200         $ 180,400 $ 40,000  
Capesize Bulk Carriers                                        
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction                                        
Number of vessels delivered                     1 2                
Number of carriers agreed to acquire                                   3    
DWT of carriers agreed to acquire | t                                   529,704    
Aggregate amount of purchase price | $                                   $ 79,800    
v3.25.2
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction - Remaining contractual commitments (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Fixed Assets, Advances for Vessels Acquisition and Vessels under Construction  
December 31, 2025 $ 113,844
December 31, 2026 435,240
December 31, 2027 590,392
December 31, 2028 94,500
Total contractual commitments $ 1,233,976
v3.25.2
Deferred Charges, net (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Changes in deferred charges, net          
Balance at the beginning of the period     $ 58,759    
Amortization $ (11,515) $ (6,972) (22,485) $ (12,424)  
Balance at the end of the period 64,079   64,079   $ 58,759
Drydocking and Special Survey Costs          
Changes in deferred charges, net          
Balance at the beginning of the period     58,759 $ 38,012 38,012
Additions     27,805   50,568
Write-off         (660)
Amortization     (22,485)   (29,161)
Balance at the end of the period $ 64,079   $ 64,079   $ 58,759
Period of amortization for deferred costs     2 years 6 months    
v3.25.2
Other Current and Non-current Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Other Current and Non-current Assets    
Straight-lining of revenue $ 25,268 $ 22,170
Marketable securities 107,919 60,850
Claims receivable 14,970 14,387
Other current assets 10,005 16,243
Total other current assets 158,162 113,650
Straight-lining of revenue 39,319 47,423
Other non-current assets 20,969 10,358
Total other non-current assets $ 60,288 $ 57,781
v3.25.2
Other Current and Non-current Assets - Narratives (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Apr. 09, 2024
Jun. 30, 2023
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Other Current and Non-current Assets              
Marketable securities, fair value     $ 107,919   $ 107,919   $ 60,850
Gain/loss on investment     14,734 $ 2,224 17,217 $ 13,203  
Dividend income     $ 313 $ 3,052 $ 679 $ 3,984  
SBLK Common Stock              
Other Current and Non-current Assets              
Number of shares of marketable securities acquired         2,185,967    
Amount paid to acquire marketable securities         $ 29,900    
Marketable securities owned     6,256,181   6,256,181    
Eagle Bulk Shipping Inc. | SBLK Common Stock              
Other Current and Non-current Assets              
Common stock of SBLK received in exchange for each share of EGLE common stock owned 2.6211            
Eagle Bulk Shipping Inc.              
Other Current and Non-current Assets              
Number of shares of marketable securities acquired   1,552,865          
Amount paid to acquire marketable securities   $ 68,200          
Marketable securities, fair value     $ 107,900   $ 107,900   $ 60,900
Related party | Virage | Eagle Bulk Shipping Inc.              
Other Current and Non-current Assets              
Amount paid to acquire marketable securities   $ 24,400          
v3.25.2
Accrued Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Accrued Liabilities    
Accrued interest $ 9,846 $ 10,599
Accrued dry-docking expenses 3,146 5,334
Accrued expenses 10,393 7,711
Total $ 23,385 $ 23,644
v3.25.2
Long-Term Debt, net - Schedule of Debt (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Feb. 28, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2022
Long-Term Debt, net            
Total long-term debt $ 770,326   $ 744,546      
Less: Deferred finance costs, net (9,132)   (9,763)      
Less: Current portion (37,660)   (35,220)      
Total long-term debt net of current portion and deferred finance costs 723,534   699,563      
BNP Paribas/Credit Agricole $130 mil. Facility            
Long-Term Debt, net            
Long-term debt 82,400   86,200      
Credit facility 130,000          
Alpha Bank $55.25 mil. Facility            
Long-Term Debt, net            
Long-term debt 36,500   40,250      
Credit facility 55,250   55,250 $ 55,250   $ 55,250
Syndicated $450.0 mil. Facility            
Long-Term Debt, net            
Long-term debt 388,660   355,330      
Credit facility 450,000   450,000   $ 450,000  
Citibank $382.5 mil. Revolving Credit Facility            
Long-Term Debt, net            
Credit facility 382,500   382,500 $ 382,500   $ 382,500
Syndicated 850.0 million facility            
Long-Term Debt, net            
Credit facility 850,000 $ 850,000 850,000      
Senior unsecured notes            
Long-Term Debt, net            
Long-term debt $ 262,766   $ 262,766      
v3.25.2
Long-Term Debt, net - Additional Information (Details)
$ in Thousands
 1 Months Ended 6 Months Ended
Feb. 11, 2021
USD ($)
Feb. 28, 2025
USD ($)
item
installment
Dec. 31, 2022
USD ($)
installment
item
Jun. 30, 2022
USD ($)
item
installment
Jun. 30, 2025
USD ($)
installment
item
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Mar. 31, 2024
USD ($)
item
Long-Term Debt, net                
Incurred interest expense         $ 27,400 $ 18,700    
Interest expense capitalized         $ 9,300 11,400    
Number of vessels excluding sale and lease back arrangement | item         31      
Carrying value of vessels subject to first preferred mortgages as collateral to credit facilities         $ 2,053,700      
Number of container vessel | item         15      
Deferred bond issuance costs         $ 9,100   $ 9,800  
BNP Paribas/Credit Agricole $130 mil. Facility                
Long-Term Debt, net                
Credit facility           130,000 130,000  
Syndicated 850.0 million facility                
Long-Term Debt, net                
Credit facility   $ 850,000     850,000   850,000  
Number of vessels under construction | item   14            
Number of quarterly instalments | installment   20            
Amount of quarterly instalment   $ 800            
Spread on variable rate   1.65%            
Commitment fee payable (as a percent)   0.50%            
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]   us-gaap:SecuredOvernightFinancingRateSofrMember            
Remaining borrowing availability         850,000      
Syndicated 850.0 million facility | Minimum                
Long-Term Debt, net                
Balloon payment at maturity   $ 42,400            
Syndicated 850.0 million facility | Maximum                
Long-Term Debt, net                
Balloon payment at maturity   $ 46,700            
Syndicated $450.0 mil. Facility                
Long-Term Debt, net                
Credit facility         $ 450,000   450,000 $ 450,000
Number of quarterly instalments | installment         20      
Spread on variable rate         1.85%      
Commitment fee payable (as a percent)         0.74%      
Number of vessels pledged as collateral | item               8
Number of vessels under construction pledged as collateral | item               1
Vessel tranches         $ 44,000      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]         us-gaap:SecuredOvernightFinancingRateSofrMember      
Remaining borrowing availability         $ 44,000      
Syndicated $450.0 mil. Facility | Minimum                
Long-Term Debt, net                
Amount of quarterly instalment         600      
Balloon payment at maturity         31,800      
Syndicated $450.0 mil. Facility | Maximum                
Long-Term Debt, net                
Amount of quarterly instalment         900      
Balloon payment at maturity         45,500      
BNP Paribas/Credit Agricole $130 mil. Facility                
Long-Term Debt, net                
Credit facility         $ 130,000      
Balloon payment at maturity       $ 67,200        
Spread on variable rate       2.16%        
Number of vessels pledged as collateral | item       6        
Face amount of debt       $ 130,000        
Term of debt       5 years        
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]       us-gaap:SecuredOvernightFinancingRateSofrMember        
Minimum percentage of fair market value of collateral vessels required to cover loan value         125.00%      
BNP Paribas/Credit Agricole $130 mil. Facility | Eight Quarterly Installment                
Long-Term Debt, net                
Number of quarterly instalments | item       8        
Amount of quarterly instalment       $ 5,000        
BNP Paribas/Credit Agricole $130 mil. Facility | Twelve Quarterly Installments                
Long-Term Debt, net                
Number of quarterly instalments | installment       12        
Amount of quarterly instalment       $ 1,900        
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     $ 815,000          
Credit facility debt extinguished     437,750          
Citibank $382.5 mil. Revolving Credit Facility                
Long-Term Debt, net                
Credit facility     $ 382,500   $ 382,500 382,500 382,500  
Number of quarterly instalments | installment     20          
Amount of quarterly instalment     $ 11,250          
Balloon payment at maturity     $ 157,500          
Spread on variable rate     2.00%          
Commitment fee payable (as a percent)     0.80%          
Number of vessels pledged as collateral | item     16          
Term of debt     5 years          
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]     us-gaap:SecuredOvernightFinancingRateSofrMember          
Amount drawn         0      
Remaining borrowing availability         270,000      
Alpha Bank $55.25 mil. Facility                
Long-Term Debt, net                
Credit facility     $ 55,250   $ 55,250 $ 55,250 $ 55,250  
Number of quarterly instalments | installment     20          
Amount of quarterly instalment     $ 1,875          
Balloon payment at maturity     $ 17,750          
Spread on variable rate     2.30%          
Number of vessels pledged as collateral | item     2          
Term of debt     5 years          
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]     us-gaap:SecuredOvernightFinancingRateSofrMember          
Senior unsecured notes                
Long-Term Debt, net                
Face amount of debt $ 300,000              
Fixed interest rate (as a percent) 8.50%              
Percentage of principal amount redeemable from equity offering within 90 days of closing 35.00%              
Redemption period of principal from closing of equity offering 90 days              
Amount repurchased     $ 37,200          
Deferred bond issuance costs $ 9,000              
Senior unsecured notes | On or after March 1, 2024                
Long-Term Debt, net                
Percent of principal amount being redeemed 104.25%              
Senior unsecured notes | On or after March 1, 2025                
Long-Term Debt, net                
Percent of principal amount being redeemed 102.125%              
Senior unsecured notes | On or after March 1, 2026                
Long-Term Debt, net                
Percent of principal amount being redeemed 100.00%              
Senior unsecured notes | 90 days after equity offering                
Long-Term Debt, net                
Redemption price (as percent) 108.50%              
Alpha Bank $55.25 mil. Facility, Citibank $382.5 mil. Revolving Credit Facility Syndicated $450.0 mil. Facility Syndicated $850.0 mil. Facility                
Long-Term Debt, net                
Minimum percentage of fair market value of collateral vessels required to cover loan value         120.00%      
Alpha Bank $55.25 mil. Facility, Citibank $382.5 mil. Revolving Credit Facility, Syndicated $450.0 mil. Syndicated $850.0 mil Facility, and the BNP Paribas/Credit Agricole $130 mil. Facility                
Long-Term Debt, net                
Minimum liquidity         $ 30,000      
Maximum leverage ratio         6.5      
Minimum interest coverage ratio         2.5      
v3.25.2
Long-Term Debt, net - Maturities (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Scheduled maturities of long-term debt  
June 30, 2026 $ 37,660
June 30, 2027 104,860
June 30, 2028 306,826
June 30, 2029 153,260
June 30, 2030 167,720
Total long-term debt $ 770,326
v3.25.2
Financial Instruments - Interest Rate Swap Hedges (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2025
USD ($)
agreement
Jun. 30, 2024
USD ($)
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  
v3.25.2
Financial Instruments - Fair Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Financial Instruments    
Marketable securities $ 107,919 $ 60,850
Book Value    
Financial Instruments    
Cash and cash equivalents 546,164 453,384
Marketable securities 107,919 60,850
Fair Value    
Financial Instruments    
Cash and cash equivalents 546,164 453,384
Marketable securities 107,919 60,850
Secured long-term debt, including current portion | Book Value    
Financial Instruments    
Long-term debt 507,560 481,780
Secured long-term debt, including current portion | Fair Value    
Financial Instruments    
Long-term debt 507,560 481,780
Unsecured long-term debt | Book Value    
Financial Instruments    
Long-term debt 262,766 262,766
Unsecured long-term debt | Fair Value    
Financial Instruments    
Long-term debt $ 226,291 $ 259,834
v3.25.2
Financial Instruments - Measured On Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Financial Instruments    
Marketable securities $ 107,919 $ 60,850
Fair Value    
Financial Instruments    
Marketable securities 107,919 60,850
Recurring basis | (Level I)    
Financial Instruments    
Marketable securities 107,919 60,850
Recurring basis | Fair Value    
Financial Instruments    
Marketable securities $ 107,919 $ 60,850
v3.25.2
Financial Instruments - Not Measured On Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Financial Instruments    
Deferred finance costs, net $ 9,100 $ 9,800
Fair Value    
Financial Instruments    
Cash and cash equivalents 546,164 453,384
Fair Value | Secured long-term debt, including current portion    
Financial Instruments    
Long-term debt 507,560 481,780
Fair Value | Unsecured long-term debt    
Financial Instruments    
Long-term debt 226,291 259,834
Non-recurring basis | (Level I)    
Financial Instruments    
Cash and cash equivalents 546,164 453,384
Non-recurring basis | (Level I) | Unsecured long-term debt    
Financial Instruments    
Long-term debt 226,291 259,834
Non-recurring basis | (Level II) | Secured long-term debt, including current portion    
Financial Instruments    
Long-term debt 507,560 481,780
Non-recurring basis | Fair Value    
Financial Instruments    
Cash and cash equivalents 546,164 453,384
Non-recurring basis | Fair Value | Secured long-term debt, including current portion    
Financial Instruments    
Long-term debt 507,560 481,780
Non-recurring basis | Fair Value | Unsecured long-term debt    
Financial Instruments    
Long-term debt $ 226,291 $ 259,834
v3.25.2
Stockholders' Equity (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Apr. 14, 2025
USD ($)
Nov. 10, 2023
USD ($)
Dec. 31, 2024
USD ($)
shares
Nov. 30, 2024
shares
Jun. 30, 2025
USD ($)
$ / shares
shares
Mar. 31, 2025
USD ($)
$ / shares
Jun. 30, 2024
USD ($)
$ / shares
Mar. 31, 2024
USD ($)
$ / shares
Jun. 30, 2025
USD ($)
director
shares
Jun. 30, 2024
USD ($)
director
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
shares
Feb. 03, 2025
shares
Jun. 30, 2022
USD ($)
Stockholders' Equity                              
Dividend declared (in US$ per share) | $ / shares         $ 0.85 $ 0.85 $ 0.8 $ 0.8              
Dividends, common stock in cash | $                 $ 31,500 $ 31,000          
Common shares issued                 98 11          
Shares repurchase program authorized amount | $         $ 300,000       $ 300,000           $ 100,000
Stock repurchase program authorized repurchase additional amount | $ $ 100,000 $ 100,000                          
Shares repurchased                 678,060   661,103 1,131,040 466,955    
Value of shares repurchased | $         $ 19,437 $ 33,216 $ 1,091 $ 4,132 $ 52,700   $ 53,900 $ 70,600 $ 28,600    
Total shares repurchased         2,937,158       2,937,158            
Amount of total shares repurchased | $         $ 205,700       $ 205,700            
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               30,000        
Amount expected to be recognized as expenses in 2025 | $     $ 2,300               $ 2,300        
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                        
Executive officers | Common Stock                              
Stockholders' Equity                              
Shares granted       100,000                      
Manager                              
Stockholders' Equity                              
Amount expected to be recognized as expenses in 2025 | $         $ 3,500       $ 3,500            
Annual management fees (in shares)                           100,000  
Expenses representing fair value of the stock granted recognized expenses | $                 $ 3,400            
v3.25.2
Lease Arrangements (Details)
$ in Thousands
 1 Months Ended 6 Months Ended
May 31, 2022
USD ($)
item
Jun. 30, 2025
USD ($)
item
Dec. 31, 2024
USD ($)
Lease Arrangements      
Number of vessels , generated revenue results | item   74  
Number of charter vessels | item 15    
Amount of charter hire prepayment received $ 238,900    
Current portion of unearned revenue   $ 41,519 $ 49,665
Non-current portion of unearned revenue   11,157 22,901
Future minimum payments, expected to be received      
Remainder of 2025   469,228  
2026   864,217  
2027   669,928  
2028   463,747  
2029   347,631  
2030 and thereafter   673,797  
Total future rentals   $ 3,488,548  
Time Charter Agreements      
Lease Arrangements      
Number of vessels under construction contracted with charter agreements | item   15  
Lessor, Operating Lease, Existence of Option to Extend [true false]   true  
Maximum term of the option to extend timer charter agreement   3 years  
Number of charter vessels | item   16  
Current portion of unearned revenue   $ 27,600 37,200
Non-current portion of unearned revenue   $ 11,200 $ 22,900
Minimum | Time Charter Agreements      
Lease Arrangements      
Operating lease term of contract   5 years  
Maximum | Time Charter Agreements      
Lease Arrangements      
Operating lease term of contract   7 years  
v3.25.2
Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Numerator:            
Net income for the period $ 130,904 $ 115,147 $ 141,152 $ 150,498 $ 246,051 $ 291,650
Denominator (number of shares in thousands):            
Basic weighted average common shares outstanding 18,344   19,348   18,546 19,380
Effect of dilutive securities:            
Dilutive effect of non-vested shares 52   172   42 172
Diluted weighted average common shares outstanding 18,396   19,520   18,588 19,552
Basic earnings per share (in $ per share) $ 7.14   $ 7.3   $ 13.27 $ 15.05
Diluted earnings per share (in $ per share) $ 7.12   $ 7.23   $ 13.24 $ 14.92
v3.25.2
Related Party Transactions (Details) - USD ($)
 6 Months Ended 12 Months Ended
Feb. 03, 2025
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Related Party Transactions        
Due from related parties   $ 49,102,000   $ 52,572,000
Prior service cost and periodic cost   2,807,000 $ 715,000  
Executive Retirement Plan        
Related Party Transactions        
Prior service cost and periodic cost   2,800,000 700,000  
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      
Supervision fees for vessels capitalized   600,000   3,000,000
Due from related parties   49,100,000   52,600,000
Manager | Danaos Chartering        
Related Party Transactions        
Commercial services commissions     5,900,000  
Manager | General and administrative expenses        
Related Party Transactions        
Management fees   15,300,000    
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%      
Commercial services commissions   6,400,000    
Commissions on acquisition of vessels   600,000   6,000,000
Related party | General and administrative expenses        
Related Party Transactions        
Management fees     $ 13,900,000  
Other long-term liabilities | Executive officers        
Related Party Transactions        
Advances related to a defined benefit executive retirement plan   $ 15,100,000   $ 12,900,000
v3.25.2
Operating Revenue - Charters (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2024
Operating Revenue            
Operating revenues $ 262,154 $ 246,306 $ 515,461 $ 499,755 $ 499,755  
Current portion of unearned revenue 41,519   41,519     $ 49,665
Time charters and bareboat charters            
Operating Revenue            
Operating revenues     488,717   476,853  
Voyage charters            
Operating Revenue            
Operating revenues     26,744   $ 22,902  
Accounts receivable 1,400   1,400     400
Current portion of unearned revenue $ 2,200   $ 2,200     $ 1,700
v3.25.2
Segments (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
segment
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2024
USD ($)
Summary of the Company's selected financial information                
Number of reportable segments | segment         2      
Income Statement                
Operating revenues $ 262,154   $ 246,306   $ 515,461 $ 499,755 $ 499,755  
Voyage expenses (16,810)   (12,678)   (34,945) (33,020)    
Vessel operating expenses (56,385)   (47,090)   (108,087) (90,204)    
Amortization of deferred drydocking and special survey costs (11,515)   (6,972)   (22,485) (12,424)    
Interest income 3,661   2,923   7,266 5,859    
Interest expense (9,711)   (5,106)   (19,714) (8,230)    
Net gain on disposal of vessel     7,094     7,094    
Net Income 130,904 $ 115,147 141,152 $ 150,498 246,051 291,650    
Statement of Financial Position                
Marketable securities 107,919       107,919     $ 60,850
Total Assets 4,521,160       4,521,160     $ 4,343,654
Operating Segments                
Income Statement                
Operating revenues         515,461 499,755    
Voyage expenses         (34,945) (33,020)    
Vessel operating expenses         (108,087) (90,204)    
Depreciation         (80,726) (69,243)    
Amortization of deferred drydocking and special survey costs         (22,485) (12,424)    
Interest income         7,208 5,859    
Interest expense         (19,714) (8,230)    
Net gain on disposal of vessel           7,094    
Other segment items         (28,050) (24,918)    
Net Income per segment         228,662 274,669    
Gain on investments, dividend income and equity loss on investments, net of interest income         17,389 16,981    
Net Income         246,051 291,650    
Statement of Financial Position                
Total assets per segment 4,413,002   3,947,061   4,413,002 3,947,061    
Marketable securities 107,919   99,232   107,919 99,232    
Investments in affiliates 239   64   239 64    
Total Assets 4,521,160   4,046,357   4,521,160 4,046,357    
Container vessels segment | Operating Segments                
Income Statement                
Operating revenues         475,636 463,997    
Voyage expenses         (17,734) (16,741)    
Vessel operating expenses         (92,571) (79,430)    
Depreciation         (74,154) (65,255)    
Amortization of deferred drydocking and special survey costs         (18,252) (12,135)    
Interest income         7,208 5,859    
Interest expense         (19,714) (8,230)    
Net gain on disposal of vessel           7,094    
Other segment items         (25,481) (23,117)    
Net Income per segment         234,938 272,042    
Statement of Financial Position                
Total assets per segment 4,147,326   3,710,004   4,147,326 3,710,004    
Drybulk vessels segment | Operating Segments                
Income Statement                
Operating revenues         39,825 35,758    
Voyage expenses         (17,211) (16,279)    
Vessel operating expenses         (15,516) (10,774)    
Depreciation         (6,572) (3,988)    
Amortization of deferred drydocking and special survey costs         (4,233) (289)    
Other segment items         (2,569) (1,801)    
Net Income per segment         (6,276) 2,627    
Statement of Financial Position                
Total assets per segment $ 265,676   $ 237,057   $ 265,676 $ 237,057    
v3.25.2
Subsequent Events (Details) - $ / shares
 3 Months Ended
Aug. 28, 2025
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Subsequent Events          
Dividend declared (in US$ per share)   $ 0.85 $ 0.85 $ 0.8 $ 0.8
O 2025 H2 Dividends          
Subsequent Events          
Dividend declared (in US$ per share) $ 0.85        
Dividends payable, date to be paid Aug. 28, 2025        
Dividends payable, date of record Aug. 19, 2025