About us

About us

Danaos has a long history of operating and investing in the shipping industry. Our goal has always been to provide superior customer service and to be disciplined and opportunistic in managing our business.

about · picture
Capesize · at sea

History

Danaos Bulk is listed on Euronext Growth Oslo under the ticker “DAB” and is the dry bulk arm of Danaos Corporation (NYSE: DAC).

Industry

Industry overview · Dry bulk shipping

Dry bulk shipping carries the raw materials of the global economy – principally iron ore, coal and grain, as well as bauxite, steel products and other minor bulks – in unpackaged form directly in the vessel’s holds.

Did you know?

In operation1,943,286 DWT
Fully delivered2,787,286 DWT

The total capacity of our fleet in operation is 1,943,286 DWT, rising to 2,787,286 DWT once our Newcastlemax newbuildings are delivered.

Charterers

The customers we serve include major mining companies, steel producers, utilities and commodity trading houses moving cargoes on the main iron ore and coal trade routes.

  • Mining companies
  • Steel producers
  • Utilities
  • Commodity trading houses

Voyage or time

Voyage charter

Hire from loading port to discharge port.

Time charter

Hire for a set period, with the charterer directing the vessel’s voyages.

Our vessels are employed on a mix of voyage and time charters.

Dry bulk size classes

  • Handysize~10–40k DWT
  • Handymax / Supramax / Ultramax~40–65k DWT
  • Panamax / Kamsarmax~65–100k DWT
  • Capesizeover 100k DWT, typically ~180k
  • Newcastlemax~200–215k DWT

Newcastlemax: the largest vessels able to enter the port of Newcastle, Australia.

Terms

Charter
The hire of a ship for a specified period of time or a particular operation to carry a cargo for a fixed fee from a loading port to a discharging port. The contract for a charter is commonly called a charterparty.
DWT
A unit of a vessel's capacity for cargo, fuel oil, stores and crew, measured in tons. A vessel's total deadweight is the total weight the vessel can carry when loaded to a particular load line.
View our full glossary

Strategy

Our strategy

Our strategy is simple: we are dedicated to serving the needs of our customers, with a focus on quality of service, the safety of our crews and technological innovation. We believe this positions us well to act as a consolidator in the dry bulk industry.

Letter to shareholders

From Dr. John Coustas, Chairman, President & CEO

TBC Letter to be added

Management

portrait

Dr. John Coustas

Chairman, President and Chief Executive Officer

Dr. John Coustas is the Chairman of the board of directors of the Company. Dr. Coustas is also the Chief Executive Officer of the Company. Dr. Coustas also holds the position as President, Chief Executive Officer and a member of the Board of Directors of Danaos Corp.

portrait

Evangelos Chatzis

Vice President, Chief Financial Officer, Treasurer and Secretary

Mr. Evangelos Chatzis is a member of the board of directors of the Company. Mr. Chatzis is the Chief Financial Officer of the Company. Mr. Chatzis also holds the position as Vice President, Chief Financial Officer, Treasurer and Secretary in Danaos Corp.

Board of directors

  1. portrait

    Dr. John Coustas is the Chairman of the board of directors of the Company. Dr. Coustas is also the Chief Executive Officer of the Company. Dr. Coustas also holds the position as President, Chief Executive Officer and a member of the Board of Directors of Danaos Corp. He has over 30 years of experience in the shipping industry and assumed management of Danaos Corp in 1987 from his father Dimitris Coustas, who founded Danaos Shipping in 1972. He has been responsible for Danaos Corp group's corporate strategy and the management of its affairs since that time. In 1986, Dr. Coustas co-founded Danaos Management Consultants, a company specialising in Maritime Applications and Systems, with operational responsibility for the development of maritime information systems and applications. Dr. Coustas is Vice Chairman of the Board of Directors of the Swedish Club, a member of the Board of Directors of the Union of Greek Shipowners and a member of the DNV Council. He holds a degree from the Faculty of Mechanical and Electrical Engineering of the National Technical University of Athens, as well as a Master's degree in Computer Science and a Ph.D. in Computer Controls from Imperial College, London.

  2. portrait

    Mr. Iraklis Prokopakis is a member of the board of directors of the Company. Mr. Prokopakis is also the Vice Chairman and a member of the board of directors of Danaos Corp. Mr. Prokopakis joined Danaos Corp in 1998 and served as Danaos Corp's Senior Vice President and Chief Operating Officer through 2023. Mr. Prokopakis has over 40 years of experience in the shipping industry while prior to entering the shipping industry he was a captain in the Hellenic Navy. He holds a Bachelor of Science in Mechanical Engineering from the University of Portsmouth in the United Kingdom, a Master’s degree in Naval Architecture and a Ship Risk Management Diploma from the Massachusetts Institute of Technology in the United States and a post-graduate diploma in business studies from the London School of Economics. Mr. Prokopakis also has a Certificate in Operational Audit of Banks from the Management Center Europe in Brussels and a Safety Risk Management Certificate from Det Norske Veritas. He is a member of the Board of the Hellenic Chamber of Shipping, the Owners’ Committee of the Korean Register of Shipping and the Skuld's Member Committee.

  3. portrait

    Mr. Evangelos Chatzis is a member of the board of directors of the Company. Mr. Chatzis is the Chief Financial Officer of the Company. Mr. Chatzis also holds the position as Vice President, Chief Financial Officer, Treasurer and Secretary in Danaos Corp. Mr. Chatzis has been with Danaos Corp since 2005 and has over 30 years of experience in corporate finance and the shipping industry. During his years with Danaos he has been actively engaged in the company’s initial public offering in the United States and has led the finance function of the company. Throughout his career he has developed considerable experience in operations, corporate finance, treasury and risk management and international business structuring. Prior to joining Danaos, Evangelos was the Chief Financial Officer of Globe Group of Companies, a public company in Greece engaged in a diverse scope of activities including dry bulk shipping, the textile industry, food production & distribution and real estate. During his years with Globe Group, he was involved in mergers and acquisitions, corporate restructurings and privatisations. He holds a Bachelor of Science degree in Economics from the London School of Economics, a Master of Science degree in Shipping & Finance from City University Cass Business School, as well as a post-graduate diploma in Shipping Risk Management from IMD Business School.

  4. portrait

    Mr. Dimitris Vastarouchas is a member of the board of directors of the Company. Mr. Vastarouchas is also the Vice President & Chief Operating Officer in Danaos Corp. Mr. Vastarouchas has been the Technical Manager of Danaos Corp since 2005 and has over 20 years of experience in the shipping industry. Mr. Vastarouchas initially joined Danaos Corp in 1995 and prior to becoming Technical Manager he was the New Buildings Projects and Site Manager, in which capacity he supervised newbuild projects in Korea for 4,250, 5,500 and 8,500 TEU containerships. He holds a degree in Naval Architecture & Marine Engineering from the National Technical University of Athens, Certificates & Licenses of expertise in the fields of Aerodynamics (C.I.T.), Welding (CSWIP), Marine Coating (FROSIO) and Insurance (North of England P&I). He is also a qualified auditor by Det Norske Veritas and Certified Negotiator by Schranner Negotiations Institute (SNI).

  5. portrait

    Mr. Filippos Prokopakis is a member of the board of directors of the Company. Mr. Prokopakis is also the Chief Commercial Officer in Danaos Corp. Mr. Prokopakis joined Danaos Corp in 2012 and served as Commercial Director. Filippos has over 13 years of experience in the shipping and logistics industry. During his tenure with Danaos Corp, he has been in charge of chartering and sale and purchase activities and has developed considerable experience across all commercial operations. Prior to joining Danaos Corp, Filippos was a Project Manager at Mamidoil – Jetoil S.A., responsible for commercial operations concerning aviation fuel, contract negotiations, market analysis and forecasting. He holds a bachelor’s degree in business administration from Hofstra University, New York, a Master of Science degree in International Marketing from London South Bank University and Certificates in the fields of Shipping, Negotiations and Decision Making.

  6. portrait

    Miklós Konkoly-Thege is a member of the board of directors of the Company. Mr. Konkoly-Thege is a retired Chief Executive Officer of Det Norske Veritas. Mr. Konkoly-Thege began at Det Norske Veritas (“DNV”), a ship classification society, in 1984. From 1984 through 2002, Mr. Konkoly-Thege served in various capacities with DNV including Chief Operating Officer, Chief Financial Officer and Corporate Controller, Head of Corporate Management Staff and Head of Business Areas. Mr. Konkoly-Thege became President and Chairman of the Executive Board of DNV in 2002 and served in that capacity until his retirement in May 2006. Subsequent to his retirement Mr. Konkoly-Thege has served as member of the board of directors of several companies, including Wilhelmsen Technical Solutions AS, International Tanker Management Holding LTD, Stena Hungary Holding KFT and Danaos Corporation. Mr. Konkoly-Thege holds a Master of Science degree in civil engineering from Technische Universität Hannover, Germany and an MBA from the University of Minnesota.

Committees

Board committees

Audit committee

  • DirectorAudit
  • Dr. John Coustas—
  • Iraklis ProkopakisChair
  • Evangelos ChatzisTBC
  • Dimitris VastarouchasTBC
  • Filippos ProkopakisTBC
  • Miklós Konkoly-ThegeMember