![Giannis Koustas – Containerships firms on course for profits for two more years](https://www.ot.gr/wp-content/uploads/2021/11/danaos.jpg)
2022 and most likely 2023 will be very good years for shipping companies that control fleets with container ships according to estimates by Dr. Giannis Koustas CEO of Danaos Corporation.
The NYSE-listed shipping company headed by Giannis Koustas with 71 containerships in its fleet saw its adjusted earnings (excluding extraordinary financial gains) jump to $ 109.5 million or $ 5.32 per share for the quarter ending Sept. 30 2021 compared to $ 47.3 million or $ 1.91 per share for the quarter ending September 30, 2020, following a similar path to the profitability of other companies with containerships
When asked how long this positive course of the companies in the sector will continue, Mr. Kousta’s assessments are very encouraging. Commenting on the results of his company, he noted that the disruption in the global supply chain, which continues unabated, had, despite their negative impact on global growth, extremely positive results in the container transport industry, which continues very dynamically. Despite the efforts of all participants to alleviate disruptions in the global supply chain, there is no evidence that conditions are improving. The main contributing factors are the increase in demand, the lack of ships available to meet this demand and the low levels of productivity in ports and other land infrastructure.
In addition, as deliveries of new vessels in 2022 are actually expected to be lower than in 2021, no difference is expected on the tonnage front in the near future. In 2023, increased deliveries are forecast, but these will be offset by the new environmental regulations which are likely to lead to a reduction in ship speed and therefore tonnage supply. Overall, we do not expect a dramatic difference, provided demand remains healthy.
Danaos Corporation recorded revenue for the third quarter of 2021 of $ 195.915 million compared to $ 118.932 million in the corresponding period of 2020, a development due to both the increase in fares ($ 30.6 million) and the addition of new ships to company fleet ($ 15.6 million) but also in accounting records based on US accounting standards and depreciation
The company’s profits were $ 217.2 million, up from $ 42.8 million a year earlier, but they include accounting gains of $ 64.1 million from Gemini’s acquisition and an additional $ 59.5 million in return on investment. of Danaos in ZIM shares.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Critical Week for Greece-Cyprus Cable](https://www.ot.gr/wp-content/uploads/2024/07/kalodio_elladas_cyprus_israil.jpeg)
Critical Week for Greece-Cyprus Cable
The study concluded that the social benefits of the interconnection, totaling 8 billion euros, far outweigh its 1.9 billion euros construction cost, resulting in a net social benefit exceeding 6 billion euros.
![Roberta Metsola Re-elected President of European Parliament](https://www.ot.gr/wp-content/uploads/2024/07/2024-07-16T110250Z_1107936467_RC2BW8AZP0U4_RTRMADP_5_EU-PARLIAMENT-2048x1366-1-600x400.jpg)
Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
![ELSTAT: 1.5% Increase in Business Turnover in May 2024](https://www.ot.gr/wp-content/uploads/2024/07/epixeiriseis_2-600x414.jpg)
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight