Danaos saw a 45% gain in first-quarter net income thanks to lower debt costs. But the Greek containership owner sees a “very challenging period” ahead as major customers restructure.
Chief executive John Coustas does see some bottoming out in the market, though, as newbuilding deliveries are lower this year than last, new orders come to a halt, and scrapping, particularly of panamax vessels, accelerates.
“The
