The Greek owner reported figures of $18m, or 16 US cents per share, compared to the $13.4m, or 12 US cents per share seen a year ago.

Danaos attributed the better numbers to a $9.4m improvement in financing costs together with a $4.1m reduction in operating costs, despite a decrease in operating revenues.

That decline reflects $4.7m due to a softer charter market and $4.2m