Danaos Corp has fallen short of Wall Street consensus as the once-booming container ship sector returned to historical earnings levels in the latter half of 2022 while the pandemic slowly faded away.

The New York-listed owner of 68 boxships reported $153m in net income for the fourth quarter on Tuesday, down from a $166m net profit during the same period last year.

Adjusted net income, which excludes $37.2m