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Danaos reports ‘outstanding turnaround’ for the container industry

Danaos chief executive John Coustas drew attention to the fourth-quarter 2020 results, saying ‘we witnessed the most outstanding turnaround in the container industry for as long as I can remember’

Dr Coustas said market participants were ‘caught by surprise as the chronic underinvestment in capacity coupled with a sudden resurgence of demand created a spike that drove container box rates to all-time highs’

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