However, the figureswere much better than a year ago when the company suffered an impairment-drivenloss of $116.5m.

Revenue for the periodend 30 December 2013 was down 3% to $147m. Operating costs were largelyunchanged at $30.5m.

“Thecontainership market remains challenging but there are indications of recovery,”said Danaos chief executive John Coustas.

“Mainlanetrade volumes in 2013 expanded by 2.8% on average compared to 1% in 2012, whilethe Asia - Europe trade grew by almost 3.5%,