The shipowner bookedan impairment loss of $129.6m forthirteen of its older vessels, which are either in lay-up or on short-termcharters expiring in 2013.

Operating revenues for the quarter were $151.8m, anincrease of 18.3% on the $128.3m achieved twelve months ago.

Danaos said it managed to improve our daily vesseloperating cost by 7.3% to $5,857 per day compared to $6,318 in the last quarterof 2011.

The