Value Investor's Edge Live #46: Danaos Ready To Boost Shareholder Returns

Danaos Corp (DAC) CFO, Evangelos Chatzis, joined Value Investor's Edge Live to discuss the containership leasing markets and prospects for 2022. DAC has been a massive winner from the ongoing supply chain crisis, but the have taken the long-term view with very responsible moves including comprehensive refinancing, massive deleveraging, and fixing their fleet onto medium- and long-term contracts to lock in sky-high rates.Topics Covered(2:15) Update on ocontainership markets: how long can strength last?(6:00) Liners gladly taking ships 2023-2028, what is the market ‘missing?’(9:15) Potential to sell any more older ships?(11:15) Further appetite to add growth deals in this market?(12:45) What about newbuilds with long-term charters attached?(15:15) Will cash be wasted on bad growth deals?(18:00) How can Danaos close the massive valuation gap?(20:45) Dividend policy and future payout policy?(22:30) Balance sheet: leverage target and use of funds?(27:30) Danaos plans for ZIM stake? Structure to reduce taxes?(31:00) Share repurchase program on the table?(34:45) What are the key risks to this market and to DAC?(36:45) Potential for future contract rolls? CMA CGM “market rate”?(40:30) Interest in a share split? Potentially 5-1?(42:15) Why invest in DAC versus other containership peers?