Danaos (DAC) reported second-quarter earnings on August third, with a strong performance despite the macro environment and declining charter rates. The company's impact from COVID-19 and re-charters is overall likely to be minimal. Further, the company's shares remain quite cheap and the company has approved a buyback.
Earnings
Danaos' second-quarter results were good, largely due to long-term stability from more valuable charters, and the benefit from scrubber attachments completed in the first half. Adjusted EBITDA up 6% year over year to $80.1 million. Earnings per share of $1.71 versus $2.24 for the previous