Hauled back from the brink of bankruptcy under a $2.2bn debt mountain in 2018, Danaos Corp expects to have no net debt at all this year.
“We expect to be net debt-free in a matter of two or three months,” chief financial officer Evangelos Chatzis told analysts in a conference call on Tuesday.
According to the company’s financial results released late on Monday, long-term debt stood at $396m at the end of the first quarter, compared with $359m in cash, equivalents and restricted cash.
