Danaos Corporation (Danaos) is an international owner of containerships. As of June 30, 2009, the Company had a fleet of 41 containerships aggregating 165,933 twenty foot equivalent units (TEUs). Danaos charters its containerships under multi-year, fixed-rate period charters to a diverse group of liner companies, which range from 1 to 12 years for vessels in its existing fleet, and up to 18 years for its contracted vessels. As of June 30, 2009, these customers included China Shipping, CMA-CGM, Hanjin, Hyundai, Maersk, MISC, MSC, United Arab Shipping Corporation (UASC), Yang Ming and ZIM Israel Integrated Shipping Services. The Company operates through a number of subsidiaries incorporated in Liberia and Cyprus, all of which are wholly owned by it and either directly or indirectly own the vessels in its fleet. The Company’s manager is Danaos Shipping Company Limited (Danaos Shipping).