Subscribe to Pro or Enterprise plans to unlock this feature.
Become a smarter investor today.
Become a smarter investor today.
This statistic highlights Danaos Corp’s Revenue Breakdown Worldwide, split across Europe, Australia-Asia, and America, reported annually from 2013 onwards.
Danaos Corp’s Revenue Breakdown Worldwide
|Revenue by Region||2018||2019||2020||Contribution in 2020|
(All figures in millions, except percentages)
Danaos Corp’s total revenue declined from $458.73 million in 2018 to $447.24 million in 2019, showing a fall of 2.5%. However, it increased from $447.24 million in 2019 to $461.59 million in 2020, marking a growth of 3.2% on an annual basis. Between 2018 and 2020, the revenue slightly increased by 0.6%, from $458.73 million in 2018 to $461.59 million in 2020.
The company’s operating revenues are driven primarily by the number of vessels in the fleet, the number of operating days during which vessels generate revenues and the amount of daily charter hire that vessels earn under time charters which, in turn, are affected by a number of factors, including the company’s decisions relating to vessel acquisitions and dispositions, the amount of time that the company spends putting the vessels, the amount of time that vessels spend in drydock going through repairs, conservation and upgrade work, the age, condition and specifications of vessels and the extent of supply and demand in the containership charter business.
The COVID-19 pandemic adversely impacted global demand for the seaborne transportation of containerized cargoes, which is estimated to have decreased by approximately 3% in terms of TEU volumes in 2020. Liner companies originally responded by reducing service, which increased idle containership fleet capacity and resulted in volatile container freight rates and consequentially lower containership charter rates in the first half of 2020. However, the second half of 2020 saw strong demand for seaborne transportation of containerized cargo, with freight volumes and freight rates rebounding sharply. The development of e-commerce, in addition to the grounding of aircraft consecutive from travel restrictions, has driven considerable shipping volume to seaborne containers.
Danaos Corp’s revenue can be bifurcated into the following regions:
The European market contributes maximum revenue in net sales of the company. The revenue from this region rose from $196.88 million in 2018 to $211.31 million in 2019, making an increment of 7.33%. It further witnessed an increase, from $211.31 million in 2019 to $242.70 million in 2020, indicating a growth of 14.8% annually. Moreover, between 2018 and 2020, it also rose by 23.3%, from $196.88 million in 2018 to $242.7 million in 2020. The European market consists of 53% of the company’s total revenue for the year 2020.
Danaos Corp’s revenue from Australia – Asia region decreased by 12.9%, from $255.48 million in 2018 to $222.33 million in 2019. It further fell, from $222.33 million in 2019 to $203.99 million in 2020, marking a decline of 8.2% annually. In addition, it also declined between 2018 and 2020, by 20.2%, from $255.48 million in 2018 to $203.99 million in 2020. The Australia–Asia region comprises 44% of the company’s total revenue in 2020.
Revenue generated from the American market increased from $6.38 million in 2018 to $13.60 million in 2019, making an increment of 113.16%. It further witnessed an increment from $13.60 million in 2019 to $14.90 million in 2020. This was an incline of 9.5% on a year-on-year basis. It also grew by $8.52 million, or by 133.5% over 2 years, between 2018 and 2020, from $6.38 million earned in 2018 to $14.90 million in 2020. The American region accounts for only 3% of the company’s total revenue for the year 2020.
Danaos Corporation is a multinational owner of containerships, chartering its vessels to many of the world’s biggest liner companies. Danaos Corporation processes through a number of subsidiaries established in Liberia, Cyprus, Malta, and the Republic of the Marshall Islands, all of which are fully owned by Danaos Corporation and either directly or indirectly possess the vessels in its fleet.
Danaos is one of the world’s biggest containership operating lessors. Since going public in 2006, the company has more than tripled TEU carrying capacity. As of February 28, 2021, it had a fleet of 65 containerships aggregating 403,793 TEUs, together with five containerships of 32,531 TEU aggregate capacity possessed by Gemini. Today, its fleet includes some of the largest containerships in the world, which are designed with certain technological advances and customized modifications that make them efficient with respect to both voyage speed and loading capability as compared to other existing vessels operating companies in the containership sector. The company’s common stock is listed on NYSE under the ticker “DAC”.
Did you like Danaos Corp’s Revenue Breakdown Worldwide statistic?
Access more such KPI data points and segment financials on thousands of US stocks, with Business Quant.
You can get started here.
Always know what you’ll pay. No hidden costs or surprises.
* Billed annually, local taxes extra.
* Local taxes extra.