DAC - Danaos Corporation Has Further Upside As Changes To Its Balance Sheet Aren't Fully Realized

• Danaos is successfully rechartering its ships at higher rates, an effect that is likely to only become more apparent in the coming months.
• The company's refinancing promises to bring down its debt load, which will be accounted for in the second quarter.
• Additionally, their cash balance should skyrocket as they cash out $150 million in bonds and equity.
• The effect of these events on Danaos' balance sheet, combined with the income boost from recharterings, is yet to be fully realized - positioning the company for further upside.

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