Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company's principal business is the acquisition and operation of vessels. It conducts operations through vessel owning companies, which own and operate containerships. It has a fleet of approximately 59 containerships aggregating approximately 351,700 twenty-foot equivalent units (TEUs), which are deployed on time charters and approximately two containerships deployed on bareboat charter. The average age (weighted by TEU) of the 59 vessels in its containership fleet was approximately 6.6 years. Its containerships are deployed under multi-year, fixed-rate time charters having initial terms that range from less than one to 18 years. It deploys containership fleet under multi-year charters with liner companies that operate scheduled routes between commercial ports. Its manager is Danaos Shipping Company Limited (Danaos Shipping).