Danaos (DAC) 20-F 9 Mar 23 2022 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2022 shares
Entity Registrant Name	DANAOS CORPORATION
Document Registration Statement	false
Document Transition Report	false
Document Annual Report	true
Document Shell Company Report	false
Entity File Number	001-33060
Entity Incorporation, State or Country Code	1T
Entity Address, Address Line One	c/o Danaos Shipping Co. Ltd, Athens Branch
Entity Address, Address Line Two	14 Akti Kondyli
Entity Address, City or Town	Piraeus
Entity Address, Country	GR
Entity Address, Postal Zip Code	185 45
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	DAC
Security Exchange Name	NYSE
Entity Central Index Key	0001369241
Document Type	20-F
Document Period End Date	Dec. 31, 2022
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	20,349,702
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Accounting Standard	U.S. GAAP
ICFR Auditor Attestation Flag	true
Auditor Firm ID	1163
Auditor Name	Deloitte Certified Public Accountants S.A.
Auditor Location	Athens, Greece
Business Contact [Member]
Entity Address, Address Line One	c/o Danaos Shipping Co. Ltd, Athens Branch
Entity Address, Address Line Two	14 Akti Kondyli
Entity Address, City or Town	Piraeus
Entity Address, Country	GR
Entity Address, Postal Zip Code	185 45
Contact Personnel Name	Evangelos Chatzis
City Area Code	+30 210
Local Phone Number	419 6480
Contact Personnel Fax Number	30 210 419 6489

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 267,668	$ 129,410
Restricted cash		346
Accounts receivable, net	5,635	7,118
Inventories	16,099	12,579
Prepaid expenses	1,312	2,032
Due from related parties	34,002	21,875
Other current assets	47,805	459,132
Total current assets	372,521	632,492
NON-CURRENT ASSETS
Fixed assets at cost, net of accumulated depreciation of $1,182,402 (2021: $1,055,792)	2,721,494	2,861,651
Right-of-use assets, net of accumulated amortization of nil (2021 : $3,085)		79,442
Advances for vessels under construction	190,736
Deferred charges, net	25,554	11,801
Other non-current assets	89,923	41,739
Total non-current assets	3,027,707	2,994,633
Total assets	3,400,228	3,627,125
CURRENT LIABILITIES
Accounts payable	24,505	18,925
Accrued liabilities	21,362	20,846
Current portion of long-term debt, net	27,500	95,750
Current portion of long-term leaseback obligation, net	27,469	85,815
Accumulated accrued interest, current portion		6,146
Unearned revenue	111,149	83,180
Other current liabilities	16,422	8,645
Total current liabilities	228,407	319,307
LONG-TERM LIABILITIES
Long-term debt, net	402,440	1,017,916
Long-term leaseback obligation, net of current portion	44,542	136,513
Accumulated accrued interest, net of current portion		24,155
Unearned revenue, net of current portion	111,564	37,977
Other long-term liabilities	52,861	3,234
Total long-term liabilities	611,407	1,219,795
Total liabilities	839,814	1,539,102
Commitments and Contingencies
STOCKHOLDERS' EQUITY
Preferred stock (par value $0.01, 100,000,000 preferred shares authorized and not issued as of December 31, 2022 and December 31, 2021)
Common stock (par value $0.01, 750,000,000 common shares authorized as of December 31, 2022 and December 31, 2021. 25,155,928 and 25,056,009 shares issued; and 20,349,702 and 20,716,738 shares outstanding as of December 31, 2022 and December 31, 2021, respectively)	203	207
Additional paid-in capital	748,109	770,676
Accumulated other comprehensive loss	(74,209)	(71,455)
Retained earnings	1,886,311	1,388,595
Total stockholders' equity	2,560,414	2,088,023
Total liabilities and stockholders' equity	$ 3,400,228	$ 3,627,125

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Accumulated depreciation	$ 1,182,402	$ 1,055,792
Accumulated amortization	$ 0	$ 3,085
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	25,155,928	25,056,009
Common stock, shares outstanding	20,349,702	20,716,738

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
OPERATING REVENUES	$ 993,344	$ 689,505	$ 461,594
OPERATING EXPENSES
Voyage expenses	(35,145)	(24,325)	(14,264)
Vessel operating expenses	(158,972)	(135,872)	(110,946)
Depreciation and amortization of right-of-use assets	(134,271)	(116,917)	(101,531)
Amortization of deferred drydocking and special survey costs	(12,170)	(10,181)	(11,032)
General and administrative expenses	(36,575)	(43,951)	(24,341)
Gain on sale of vessels	37,225
Income from Operations	653,436	358,259	199,480
OTHER INCOME (EXPENSES):
Interest income	4,591	12,230	6,638
Interest expense	(62,141)	(68,991)	(53,502)
Gain/(loss) on investments	(176,386)	543,653
Dividend income	165,399	34,341
Gain on debt extinguishment, net	4,351	111,616
Equity income on investments		68,028	6,308
Other finance expenses	(1,590)	(1,326)	(2,335)
Other income/(expense), net	(6,578)	4,543	593
Loss on derivatives	(3,622)	(3,622)	(3,632)
Total Other Income/(Expenses), net	(75,976)	700,472	(45,930)
Income before income taxes	577,460	1,058,731	153,550
Income taxes	(18,250)	(5,890)
Net Income	$ 559,210	$ 1,052,841	$ 153,550
EARNINGS PER SHARE
Basic earnings per share of common stock	$ 27.30	$ 51.75	$ 6.51
Diluted earnings per share of common stock	$ 27.28	$ 51.15	$ 6.45
Basic weighted average number of common shares (in thousands)	20,481,894	20,345,394	23,588,994
Diluted weighted average number of common shares (in thousands)	20,501,021	20,583,796	23,805,251

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income	$ 559,210	$ 1,052,841	$ 153,550
Other comprehensive income/(loss):
Unrealized gain on available for sale securities		20,803	26,633
Reclassification to interest income		9,211
Prior service cost of defined benefit plan	(14,184)
Reclassification of prior service cost of defined benefit plan	7,808
Amortization of deferred realized losses on cash flow hedges	3,622	3,622	3,632
Total Other Comprehensive Income/(Loss)	(2,754)	15,214	30,265
Comprehensive Income	$ 556,456	$ 1,068,055	$ 183,815

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional paid-in capital	Accumulated other comprehensive loss	Retained earnings	Total
Balance at Dec. 31, 2019	$ 248	$ 785,274	$ (116,934)	$ 213,102	$ 881,690
Balance (in shares) at Dec. 31, 2019	24,789,000
Increase (Decrease) in Stockholders' Equity
Net income				153,550	153,550
Repurchase of common stock	$ (44)	(31,083)			(31,127)
Repurchase of common stock (in shares)	(4,339,000)
Stock compensation		1,199			1,199
Stock compensation (in shares)	(1,000)
Net movement in other comprehensive income (loss)			30,265		30,265
Balance at Dec. 31, 2020	$ 204	755,390	(86,669)	366,652	1,035,577
Balance (in shares) at Dec. 31, 2020	20,449,000
Increase (Decrease) in Stockholders' Equity
Net income				1,052,841	1,052,841
Dividends				(30,898)	(30,898)
Stock compensation	$ 3	15,275			15,278
Stock compensation (in shares)	268,000
Issuance of common stock		11			11
Net movement in other comprehensive income (loss)			15,214		15,214
Balance at Dec. 31, 2021	$ 207	770,676	(71,455)	1,388,595	2,088,023
Balance (in shares) at Dec. 31, 2021	20,717,000
Increase (Decrease) in Stockholders' Equity
Net income				559,210	559,210
Dividends				(61,494)	(61,494)
Repurchase of common stock	$ (5)	(28,548)			$ (28,553)
Repurchase of common stock (in shares)	(467,000)				(466,955)
Stock compensation	$ 1	5,971			$ 5,972
Stock compensation (in shares)	100,000
Issuance of common stock		10			10
Net movement in other comprehensive income (loss)			(2,754)		(2,754)
Balance at Dec. 31, 2022	$ 203	$ 748,109	$ (74,209)	$ 1,886,311	$ 2,560,414
Balance (in shares) at Dec. 31, 2022	20,350,000

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	1 Months Ended							12 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Dividends (in US$ per share)	$ 0.75	$ 0.75	$ 0.75	$ 0.75	$ 0.50	$ 0.50	$ 0.50	$ 3	$ 1.50

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income	$ 559,210	$ 1,052,841	$ 153,550
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of right-of-use assets	134,271	116,917	101,531
Amortization of deferred drydocking and special survey costs	12,170	10,181	11,032
Amortization of assumed time charters	(56,699)	(27,614)
Amortization of finance costs	8,564	11,599	11,657
Exit fee accrued on debt		149	521
Debt discount amortization	2,956	4,314	5,690
Prior service cost and periodic cost	7,846
Loss/(gain) on investments	176,386	(543,653)
Equity income on investments		(68,028)	(6,308)
Gain on debt extinguishment	(4,351)	(111,616)
Gain on sale of vessels	(37,225)
PIK interest		726	2,911
Payments for drydocking and special survey costs deferred	(29,939)	(4,643)	(16,916)
Stock based compensation	5,972	15,278	1,199
Amortization of deferred realized losses on interest rate swaps	3,622	3,622	3,632
(Increase)/Decrease in:
Accounts receivable	1,483	786	(411)
Inventories	(3,520)	(2,068)	(1,125)
Prepaid expenses	720	(1,096)	603
Due from related parties	(12,127)	(588)	86
Other assets, current and non-current	(52,347)	(41,270)	3,635
Increase/(Decrease) in
Accounts payable	5,580	4,518	(181)
Accrued liabilities	280	8,787	2,433
Unearned revenue, current and long-term	158,255	(832)	(7,438)
Other liabilities, current and long-term	53,634	(199)	(422)
Net cash provided by operating activities	934,741	428,111	265,679
Cash flows from investing activities
Vessels additions and advances for vessels under construction	(199,135)	(355,720)	(170,661)
Proceeds and advances received from sale of vessels	129,069
Investments	246,638	196,350	(75)
Acquired cash and cash equivalents		16,222
Net cash provided by/(used in) investing activities	176,572	(143,148)	(170,736)
Cash flows from financing activities
Proceeds from long-term debt, net	182,726	1,105,311	69,850
Payments of long-term debt	(892,928)	(1,343,725)	(146,747)
Proceeds from sale-leaseback of vessels		135,000	139,080
Payments of leaseback obligation	(153,546)	(53,799)	(153,904)
Dividends paid	(61,483)	(30,887)
Payments of accumulated accrued interest	(3,373)	(10,361)	(25,639)
Finance costs	(16,244)	(22,409)	(19,963)
Repurchase of common stock	(28,553)		(31,127)
Net cash used in financing activities	(973,401)	(220,870)	(168,450)
Net increase/(decrease) in cash, cash equivalents and restricted cash	137,912	64,093	(73,507)
Cash, cash equivalents and restricted cash, beginning of year	129,756	65,663	139,170
Cash, cash equivalents and restricted cash, end of year	267,668	129,756	65,663
Supplemental cash flow information
Cash paid for interest, net of amounts capitalized	$ 53,954	$ 42,836	$ 35,215

Basis of Presentation and Gener

Basis of Presentation and General Information	12 Months Ended
	Dec. 31, 2022
Basis of Presentation and General Information
Basis of Presentation and General Information	1. Basis of Presentation and General Information The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The reporting and functional currency of Danaos Corporation and its subsidiaries (the “Company”) is the United States Dollar. Danaos Corporation, formerly Danaos Holdings Limited, was formed on December 7, 1998 under the laws of Liberia and is presently the sole owner of all outstanding shares of the companies listed below. Danaos Holdings Limited was redomiciled in the Marshall Islands on October 7, 2005. In connection with the redomiciliation, the Company changed its name to Danaos Corporation. On October 14, 2005, the Company filed and the Marshall Islands accepted Amended and Restated Articles of Incorporation. The authorized capital stock of Danaos Corporation is 750,000,000 shares of common stock with a par value of $0.01 and 100,000,000 shares of preferred stock with a par value of $0.01. Refer to Note 18, “Stockholders’ Equity”. The Company’s vessels operate worldwide, carrying containers for many established charterers. The Company’s principal business is the acquisition and operation of vessels. Danaos conducts its operations through the vessel owning companies whose principal activity is the ownership and operation of containerships (refer to Note 2, “Significant Accounting Policies”) that are under the exclusive management of a related party of the Company (refer to Note 11, “Related Party Transactions”). The consolidated financial statements of the Company have been prepared to reflect the consolidation of the companies listed below. The historical balance sheets and results of operations of the companies listed below have been reflected in the consolidated balance sheets and consolidated statements of income, consolidated statements of comprehensive income, cash flows and stockholders’ equity at and for each period since their respective incorporation or acquisition dates. Impact of COVID-19 on the Company’s Business The spread of the COVID-19 virus, which has been declared a pandemic by the World Health Organization, in 2020 has caused substantial disruptions in the global economy and the shipping industry, as well as significant volatility in the financial markets, the severity and duration of which remains uncertain. The impact of the COVID-19 pandemic continues to unfold and may continue to have negative effect on the Company’s business, financial performance and the results of its operations, including due to decreased demand for global seaborne container trade and containership charter rates, mainly experienced in the first half of 2020. The extent of the impact will depend largely on future developments. As a result, many of the Company’s estimates and assumptions required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, the Company’s estimates may change in future periods. ​ Impact of the war in Ukraine on the Company’s Business The current conflict between Russia and Ukraine, and related sanctions imposed by the U.S., EU and others, adversely affect the crewing operations of the Company’s Manager, which has crewing offices in St. Petersburg, Odessa and Marioupol (damaged by the war), and trade patterns involving ports in the Black Sea or Russia, and as well as impacting world energy supply and creating uncertainties in the global economy, which in turn impact containership demand. The extent of the impact will depend largely on future developments. ​ 1. Basis of Presentation and General Information (Continued) As of December 31, 2022, Danaos consolidated the vessel owning companies (the “Danaos Subsidiaries”) listed below. All vessels are container vessels: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ​ ​ Company Date of Incorporation Vessel Name Built TEU(1) Megacarrier (No. 1) Corp. ​ September 10, 2007 Hyundai Honour 2012 13,100 Megacarrier (No. 2) Corp. ​ September 10, 2007 Hyundai Respect 2012 13,100 Megacarrier (No. 3) Corp. ​ September 10, 2007 Hyundai Smart 2012 13,100 Megacarrier (No. 4) Corp. ​ September 10, 2007 Hyundai Speed 2012 13,100 Megacarrier (No. 5) Corp. ​ September 10, 2007 Hyundai Ambition 2012 13,100 CellContainer (No. 6) Corp. ​ October 31, 2007 Express Berlin 2011 10,100 CellContainer (No. 7) Corp. ​ October 31, 2007 Express Rome 2011 10,100 CellContainer (No. 8) Corp. ​ October 31, 2007 Express Athens 2011 10,100 Karlita Shipping Co. Ltd. ​ February 27, 2003 Pusan C 2006 9,580 Ramona Marine Co. Ltd. ​ February 27, 2003 Le Havre 2006 9,580 Oceancarrier (No. 2) Corp. ​ October 15, 2020 ​ Bremen ​ 2009 ​ 9,012 Oceancarrier (No. 3) Corp. ​ October 15, 2020 ​ C Hamburg ​ 2009 ​ 9,012 Blackwell Seaways Inc. ​ January 9, 2020 ​ Niledutch Lion ​ 2008 ​ 8,626 Oceancarrier (No. 1) Corp. ​ February 19, 2020 ​ Kota Manzanillo (ex Charleston) ​ 2005 ​ 8,533 Springer Shipping Co. ​ April 29, 2019 ​ Belita ​ 2006 ​ 8,533 Teucarrier (No. 5) Corp. ​ September 17, 2007 CMA CGM Melisande 2012 8,530 Teucarrier (No. 1) Corp. ​ January 31, 2007 CMA CGM Attila 2011 8,530 Teucarrier (No. 2) Corp. ​ January 31, 2007 CMA CGM Tancredi 2011 8,530 Teucarrier (No. 3) Corp. ​ January 31, 2007 CMA CGM Bianca 2011 8,530 Teucarrier (No. 4) Corp. ​ January 31, 2007 ​ CMA CGM Samson ​ 2011 ​ 8,530 Oceanew Shipping Ltd. ​ January 14, 2002 ​ Europe ​ 2004 ​ 8,468 Oceanprize Navigation Ltd. ​ January 21, 2003 ​ America ​ 2004 ​ 8,468 Rewarding International Shipping Inc. ​ October 1, 2019 ​ Kota Santos (ex Phoebe) ​ 2005 ​ 8,463 Boxcarrier (No. 2) Corp. ​ June 27, 2006 ​ CMA CGM Musset ​ 2010 ​ 6,500 Boxcarrier (No. 3) Corp. ​ June 27, 2006 ​ CMA CGM Nerval ​ 2010 ​ 6,500 Boxcarrier (No. 4) Corp. ​ June 27, 2006 ​ CMA CGM Rabelais ​ 2010 ​ 6,500 Boxcarrier (No. 5) Corp. ​ June 27, 2006 ​ CMA CGM Racine ​ 2010 ​ 6,500 Boxcarrier (No. 1) Corp. ​ June 27, 2006 ​ CMA CGM Moliere ​ 2009 ​ 6,500 Expresscarrier (No. 1) Corp. ​ March 5, 2007 ​ YM Mandate ​ 2010 ​ 6,500 Expresscarrier (No. 2) Corp. ​ March 5, 2007 ​ YM Maturity ​ 2010 ​ 6,500 Kingsland International Shipping Limited ​ June 26, 2015 ​ Catherine C (2) ​ 2001 ​ 6,422 Leo Shipping and Trading S.A. ​ October 29, 2015 ​ Leo C (2) ​ 2002 ​ 6,422 Actaea Company Limited ​ October 14, 2014 ​ Zim Savannah ​ 2002 ​ 6,402 Asteria Shipping Company Limited ​ October 14, 2014 ​ Dimitra C ​ 2002 ​ 6,402 Averto Shipping S.A. ​ June 12, 2015 ​ Suez Canal ​ 2002 ​ 5,610 Sinoi Marine Ltd. ​ June 12, 2015 ​ Kota Lima ​ 2002 ​ 5,544 Oceancarrier (No. 4) Corp. ​ July 6, 2021 ​ Wide Alpha ​ 2014 ​ 5,466 Oceancarrier (No. 5) Corp. ​ July 6, 2021 ​ Stephanie C (ex Wide Bravo) ​ 2014 ​ 5,466 Oceancarrier (No. 6) Corp. ​ July 6, 2021 ​ Maersk Euphrates ​ 2014 ​ 5,466 Oceancarrier (No. 7) Corp. ​ July 6, 2021 ​ Wide Hotel ​ 2015 ​ 5,466 Oceancarrier (No. 8) Corp. ​ July 6, 2021 ​ Wide India ​ 2015 ​ 5,466 Oceancarrier (No. 9) Corp. ​ July 6, 2021 ​ Wide Juliet ​ 2015 ​ 5,466 Continent Marine Inc. ​ March 22, 2006 Zim Monaco 2009 4,253 Medsea Marine Inc. ​ May 8, 2006 Dalian 2009 4,253 Blacksea Marine Inc. ​ May 8, 2006 Zim Luanda 2009 4,253 Bayview Shipping Inc. ​ March 22, 2006 Rio Grande 2008 4,253 Channelview Marine Inc. ​ March 22, 2006 Zim Sao Paolo 2008 4,253 Balticsea Marine Inc. ​ March 22, 2006 Zim Kingston 2008 4,253 Seacarriers Services Inc. ​ June 28, 2005 Seattle C 2007 4,253 Seacarriers Lines Inc. ​ June 28, 2005 Vancouver 2007 4,253 Containers Services Inc. ​ May 30, 2002 Tongala 2004 4,253 Containers Lines Inc. ​ May 30, 2002 Derby D 2004 4,253 Boulevard Shiptrade S.A ​ September 12, 2013 Dimitris C 2001 3,430 CellContainer (No. 4) Corp. ​ March 23, 2007 Express Spain 2011 3,400 CellContainer (No. 5) Corp. ​ March 23, 2007 Express Black Sea 2011 3,400 CellContainer (No. 1) Corp. ​ March 23, 2007 Express Argentina 2010 3,400 CellContainer (No. 2) Corp. ​ March 23, 2007 Express Brazil 2010 3,400 CellContainer (No. 3) Corp. ​ March 23, 2007 Express France 2010 3,400 Wellington Marine Inc. ​ January 27, 2005 Singapore 2004 ​ 3,314 Auckland Marine Inc. ​ January 27, 2005 Colombo 2004 ​ 3,314 Vilos Navigation Company Ltd. ​ May 30, 2013 ​ Zebra ​ 2001 2,602 Sarond Shipping Inc. ​ January 18, 2013 Artotina 2001 2,524 Trindade Maritime Company ​ April 10, 2013 ​ Amalia C (3) ​ 1998 2,452 Speedcarrier (No. 7) Corp. ​ December 6, 2007 Highway 1998 2,200 Speedcarrier (No. 6) Corp. ​ December 6, 2007 Progress C 1998 2,200 Speedcarrier (No. 8) Corp. ​ December 6, 2007 Bridge 1998 2,200 Speedcarrier (No. 1) Corp. ​ June 28, 2007 Phoenix D (ex Vladivostok) 1997 2,200 Speedcarrier (No. 2) Corp. ​ June 28, 2007 Advance 1997 2,200 Speedcarrier (No. 3) Corp. ​ June 28, 2007 ​ Stride ​ 1997 2,200 Speedcarrier (No. 5) Corp. ​ June 28, 2007 ​ Future ​ 1997 2,200 Speedcarrier (No. 4) Corp. ​ June 28, 2007 ​ Sprinter ​ 1997 2,200 Vessels under construction ​ ​ ​ ​ ​ ​ ​ ​ Boxsail (No. 1) Corp. ​ March 4, 2022 ​ Hull No. C7100-7 ​ 2024 ​ 7,100 Boxsail (No. 2) Corp. ​ March 4, 2022 ​ Hull No. C7100-8 ​ 2024 ​ 7,100 Teushipper (No. 1) Corp. ​ March 14, 2022 ​ Hull No. HN4009 ​ 2024 ​ 8,000 Teushipper (No. 2) Corp. ​ March 14, 2022 ​ Hull No. HN4010 ​ 2024 ​ 8,000 Teushipper (No. 3) Corp. ​ March 14, 2022 ​ Hull No. HN4011 ​ 2024 ​ 8,000 Teushipper (No. 4) Corp. ​ March 14, 2022 ​ Hull No. HN4012 ​ 2024 ​ 8,000 (1) Twenty-foot equivalent unit, the international standard measure for containers and containership capacity. (2) The Company completed the sale of the Catherine C and the Leo C in November 2022. (3) The Company held the Amalia C for sale as of December 31, 2022 and completed the sale in January 2023.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies Principles of Consolidation: The Company also consolidates entities that are determined to be variable interest entities, of which the Company is the primary beneficiary, as defined in the accounting guidance, if it determines that it is the primary beneficiary. A variable interest entity is defined as a legal entity where either (a) equity interest holders as a group lack the characteristics of a controlling financial interest, including decision making ability and an interest in the entity’s residual risks and rewards, or (b) the equity holders have not provided sufficient equity investment to permit the entity to finance its activities without additional subordinated financial support, or (c) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Inter-company transaction balances and unrealized gains/(losses) on transactions between the companies are eliminated. Investments in affiliates: Use of Estimates: Reclassifications in Other Comprehensive Income/(Loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ Location of Reclassification into Income 2022 2021 2020 Amortization of deferred realized losses on cash flow hedges ​ Loss on derivatives ​ $ 3,622 ​ $ 3,622 ​ $ 3,632 Reclassification of prior service cost of defined benefit plan ​ Other income/(expense), net ​ ​ 7,808 ​ ​ — ​ ​ — Reclassification to interest income Interest income ​ — ​ (9,211) ​ — Total Reclassifications ​ ​ ​ $ 11,430 ​ $ (5,589) ​ $ 3,632 ​ ​ 2. Significant Accounting Policies (Continued) Foreign Currency Translation: Cash and Cash Equivalents: Restricted Cash: Accounts Receivable, Net: Insurance Claims: Prepaid Expenses and Inventories: Deferred Financing Costs: Loan arrangement fees incurred for obtaining new loans, for loans that have been accounted for as modified and the fees paid to third parties for loans that have been accounted for as extinguished, where there is a replacement debt and the lender remains the same, are deferred and amortized over the loans’ respective repayment periods using the effective interest rate method and are presented in the consolidated balance sheets as a direct deduction from the carrying amount of debt liability or under “Other non-current assets” if no related debt liability is drawn down at a period-end. Unamortized deferred financing costs for extinguished facilities are written-off. Loan arrangement fees related to the facilities accounted for under troubled debt restructuring with future undiscounted cash flows greater than the net carrying value of the original debt are capitalized and amortized over the loan respective repayment period using the effective interest rate method. Additionally, amortization of deferred finance costs is included in interest expenses in the Consolidated Statements of Income. ​ 2. Significant Accounting Policies (Continued) Fixed Assets: The Company acquired six vessels in the secondhand market and five vessels from Gemini Shipholdings Corporation (“Gemini”) in 2021 and five vessels in the secondhand market in 2020, all of which were considered to be acquisitions of assets. Following adoption of ASU 2017-01 “Business Combinations (Topic 805)” on January 1, 2018, the Company evaluates if any vessel acquisition in secondhand market constitutes a business or not. When substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. The following assets are considered as a single asset for the purposes of the evaluation (i) a tangible asset that is attached to and cannot be physically removed and used separately from another tangible assets (or an intangible asset representing the right to use a tangible asset); (ii) in place lease intangibles, including favorable and unfavorable intangible assets or liabilities, and the related leased assets. The Company charters in certain vessels under a long-term sale and leaseback arrangement. The proceeds received by the Company from the buyer-lessor were recognized as a financial leaseback obligation as this arrangement did not qualify for a sale of these vessels. The Company has substantive repurchase obligation of these vessels at the end of the leaseback period or earlier, at the Company’s option, and retains the control over these vessels. Each leaseback payment is allocated between the liability and interest expense to achieve a constant interest rate on the leaseback obligation outstanding. The interest element of the leaseback payment is charged under “Interest expense” in the accompanying Consolidated Statements of Income over the leaseback period. Time Charters Assumed on Acquisition of Vessels: Depreciation: The cost of the Company’s vessels is depreciated on a straight-line basis over the vessels’ remaining economic useful lives after considering the estimated residual value (refer to Note 5, “Fixed Assets, net & Right-of-use Assets”). Management has estimated the useful life of the Company’s vessels to be 30 years from the year built. Right-of-Use Assets and Finance Lease Obligations: Finance leases are accounted for as the acquisition of a right-of-use asset and the incurrence of a finance lease obligation by the lessee. On the lease commencement date, a lessee is required to measure and record a lease liability equal to the present value of the remaining lease payments, discounted using the rate of implicit in the lease or if the rate implicit in the lease is not readily determined, at the lessee’s incremental borrowing rate. Subsequently, the lease liability is increased by the interest on the lease liability, determined using effective interest rate that produces a constant periodic discount rate on the remaining balance of the liability, and decreased by the lease payments during the period. ​ 2. Significant Accounting Policies (Continued) A lessee initially measures the right-of-use asset at cost, which consists of: the amount of the initial measurement of the lease liability, any lease payments made to the lessor at or before the commencement date, minus any lease incentives received and any initial direct cost incurred by the lessee. Subsequently, the right-of-use asset is measured at cost plus payment for leasehold improvement less any accumulated amortization and impairment charges. Amortization expense is calculated and recognized on a straight-line basis over the shorter of the useful life of the asset or the lease term, after considering the estimated residual value of the vessel. The residual value of the vessel is equal to the product of its lightweight tonnage and estimated scrap rate at $300 per ton. Amortization of right-of-use assets is included under “Depreciation and amortization of right-of-use assets” in the Consolidated Statements of Income. However, if the lease transfers ownership of the underlying asset to the lessee or the lessee is reasonably certain to exercise an option to purchase the underlying assets, the lessee shall amortize the right-of-use of asset to the end of the useful life of the underlying asset. Management has estimated the useful life of the Company’s vessels to be 30 years from the year built. Vessels held for sale: Advances for Vessels under Construction: Accounting for Special Survey and Drydocking Costs: The Company follows the accounting guidance for planned major maintenance activities. Drydocking and special survey costs, which are reported in the balance sheet within “Deferred charges, net”, include planned major maintenance and overhaul activities for ongoing certification including the inspection, refurbishment and replacement of steel, engine components, electrical, pipes and valves, and other parts of the vessel. The Company follows the deferral method of accounting for special survey and drydocking costs, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period until the next scheduled survey and drydocking, which is two and a half years . If a special survey or drydocking is performed prior to the scheduled date, the remaining unamortized balances are immediately written off. The amortization periods reflect the estimated useful economic life of the deferred charge, which is the period between each special survey and drydocking. Costs incurred during the drydocking period relating to routine repairs and maintenance are expensed. The unamortized portion of special survey and drydocking costs for vessels sold is included as part of the carrying amount of the vessel in determining the gain/(loss) on sale of the vessel. Pension and Retirement Benefit Obligations-Crew: The crew on board the companies’ vessels serve in such capacity under short-term contracts (usually up to seven months ) and accordingly, the vessel-owning companies are not liable for any pension or post-retirement benefits. Dividends: ​ 2. Significant Accounting Policies (Continued) Impairment of Long-lived Assets: As of December 31, 2022, the Company concluded that events and circumstances triggered the existence of potential impairment of some of its vessels. These indicators included volatility in the charter market and the vessels’ market values, as well as the potential impact the current marketplace may have on its future operations. As a result, the Company performed step one of the impairment assessment for some of the Company’s vessels by comparing the undiscounted projected net operating cash flows for each vessel to its carrying value. The Company’s strategy is to charter its vessels under multi-year, fixed rate period charters that have the initial terms ranging from less than 1 to 18 years for vessels in its fleet, providing the Company with contracted stable cash flows. The Company used a number of factors and assumptions in its undiscounted projected net operating cash flow analysis including, among others, operating revenues, off-hire revenues, drydocking costs, operating expenses and management fees estimates. Revenue assumptions were based on contracted time charter rates up to the end of life of the current contract of each vessel as well as the estimated time charter equivalent rates for the remaining life of the vessel after the completion of its current contract for non-contracted revenue days. The estimated daily time charter equivalent rate used for the non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container transportation industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that the most recent 5 to 15 years historical average time charter rates represent a reasonable benchmark for the estimated time charter equivalent rates for the non-contracted revenue days, as such averages take into account the volatility and cyclicality of the market. In addition, the Company used an annual operating expenses escalation factor and estimates of scheduled and unscheduled off-hire revenues based on historical experience. All estimates used and assumptions made were in accordance with the Company’s internal budgets and historical experience of the shipping industry. As of December 31, 2021, the Company concluded that no events and circumstances triggered the existence of potential impairment of its vessels. As of December 31, 2022, the Company’s assessment concluded that step two of the impairment analysis was not required for any vessel, as the undiscounted projected net operating cash flows of all vessels exceeded the carrying value of the respective vessels. As of December 31, 2022 and December 31, 2021, no impairment loss was identified. Business Combinations: Investments in Debt Securities: ​ 2. Significant Accounting Policies (Continued) The fair value of debt securities is estimated based on a weighted combination of (1) a yield-to-maturity analysis based on a quoted (non-binding) price from a third party broker, (2) a yield-to-maturity analysis of a similar bond(s) in an active market, (3) the available market data for yield-to-maturity for the corporate bonds, if available and (4) if applicable, redemption information announced by the issuer of the security. The weightings and the yield-to-maturities used in the calculation of fair value of the debt securities are assumptions that require significant management judgment. When the securities are impaired at the reporting date, and the Company does not meet the guidance for intending to sell or more likely than not being required to sell the securities before the amortized cost basis is recovered, the Company determines whether the impairment is related to credit or non-credit factors. To determine the amount of impairment related to credit, the Company compares the present value of the cash flows expected to be collected on the securities with the amortized cost basis of the securities. If the present value of cash flows expected to be collected is less than the securities’ amortized cost basis, the difference is recorded as an allowance for credit losses in the accompanying Consolidated Statements of Income. Any remaining difference between the securities’ fair value and amortized cost basis is considered to be non-credit related impairment and is recorded in the accompanying Consolidated Statements of Other Comprehensive Income. Investments in Equity Securities: Management evaluates the equity security for other than temporary impairment on a quarterly basis. An investment is considered impaired if the fair value of the investment is less than its cost. Consideration is given to significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee, significant adverse change in the regulatory, economic, or technological environment of the investee, significant adverse change in the general market condition of either the geographic area or the industry in which the investee operates, as well as factors that raise significant concerns about the investee’s ability to continue as a going concern, such as negative cash flows from operations, working capital deficiencies, or noncompliance with statutory capital requirements or debt covenants. Accounting for Revenue and Expenses: The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the nonlease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as adopted by the Company on January 1, 2019, as the lease component is the predominant component in 2022, 2021 and 2020. ​ 2. Significant Accounting Policies (Continued) Voyage Expenses: Vessel Operating Expenses: General and administrative expenses: Repairs and Maintenance: Income taxes: Troubled Debt Restructuring and Accumulated Accrued Interest: ​ 2. Significant Accounting Policies (Continued) When interest rates change, actual cash flows will differ from the cash flows measured on the Refinancing closing date. The accounting treatment for changes in cash flows due to changes in interest rates depends on whether there is an increase or a decrease from the spot interest rate used in the initial TDR accounting (“threshold interest rate”). Fluctuations in the effective interest rate after the Refinancing from changes in the interest rate or other cause are accounted for as changes in estimates in the periods in which these changes occur. Upon an increase in the interest rates from the threshold interest rate used to calculate accumulated accrued interest payable, the Company recognizes additional interest expenses in the period the expense is incurred. The additional interest expense is calculated by multiplying the difference between the current interest rate and the threshold interest rate with the current carrying value of the debt. A gain due to decrease in interest rates (‘interest windfall’) will not be recognized until the debt facilities have been settled and there are no future interest payments. In case there are subsequent increases in interest rates above the threshold interest rate after a previous decrease in interest rates, the carrying amount of the accumulated accrued interest will be reduced by the interest payments in excess of the threshold interest rate until the prior interest windfall due to decrease in the interest rates is recaptured on a cumulative basis. The Paid-in-kind interest (“PIK interest”) related to each period will increase the carrying value of the loan facility and correspondingly decrease the carrying value of the accumulated accrued interest. PIK interest in excess of the amount recognized in the accumulated accrued interest is expensed in the period the expense is incurred. Going Concern: If a substantial doubt to continue as a going concern is identified and after considering management’s plans this substantial doubt is alleviated the Company discloses the following: (i) principal conditions or events that raised substantial doubt about the Company’s ability to continue as a going concern (before consideration of management’s plans), (ii) management’s evaluation of the significance of those conditions or events in relation to the Company’s ability to meet its obligations, (iii) management’s plans that alleviated substantial doubt about the Company’s ability to continue as a going concern. If a substantial doubt to continue as a going concern is identified and after considering management’s plans this substantial doubt is not alleviated the Company discloses the following: (i) a statement indicating that there is substantial doubt about the Company’s ability to continue as a going concern, (ii) principal conditions or events that raised substantial doubt about the Company’s ability to continue as a going concern, (iii) management’s evaluation of the significance of those conditions or events in relation to the Company’s ability to meet its obligations, and (iv) management’s plans that are intended to mitigate the conditions or events that raised substantial doubt about the Company’s ability to continue as a going concern. The Company updates the going concern disclosure in subsequent periods until the period in which substantial doubt no longer exists disclosing how the relevant conditions or events that raised substantial doubt were resolved. Segment Reporting: The Company reports financial information and evaluates its operations by total charter revenues. Although revenue can be identified for different types of charters, management does not identify expenses, profitability or other financial information for different charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus the Company has determined that it has only one operating and reportable segment. Derivative Instruments: ​ 2. Significant Accounting Policies (Continued) At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. On July 1, 2012, the Company elected to prospectively de-designate fair value and cash flow interest rate swaps for which it was following hedge accounting treatment due to the compliance burden associated with this accounting policy. As a result, all changes in the fair value of the Company’s cash flow interest rate swap agreements were recorded in earnings under “Loss on derivatives” from the de-designation date forward. The Company evaluated whether it is probable that the previously hedged forecasted interest payments are probable to not occur in the originally specified time period. The Company has concluded that the previously hedged forecasted interest payments are probable of occurring. Therefore, unrealized gains or losses in accumulated other comprehensive loss associated with the previously designated cash flow interest rate swaps will remain frozen in accumulated other comprehensive loss and recognized in earnings when the interest payments will be recognized. If such interest payments were to be identified as being probable of not occurring, the accumulated other comprehensive loss balance pertaining to these amounts would be reversed through earnings immediately. The Company does not use financial instruments for trading or other speculative purposes. Earnings Per Share: Treasury Stock: Equity Compensation Plan: The Company has adopted an equity compensation plan (the “Plan”) in 2006 (as amended on August 2, 2019), which is generally administered by the compensation committee of the Board of Directors. The Plan allows the plan administrator to grant awards of shares of common stock or the right to receive or purchase shares of common stock to employees, directors or other persons or entities providing significant services to the Company or its subsidiaries. The actual terms of an award will be determined by the plan administrator and set forth in written award agreement with the participant. Any options granted under the Plan will be accounted for in accordance with the accounting guidance for share-based compensation arrangements. The aggregate number of shares of common stock for which awards may be granted under the Plan shall not exceed 1,000,000 shares plus the number of unvested shares granted before August 2, 2019. Awards made under the Plan that have been forfeited, cancelled or have expired, will not be treated as having been granted for purposes of the preceding sentence. Unless otherwise set forth in an award agreement, any awards outstanding under the Plan will vest immediately upon a “change of control”, as defined in the Plan. Refer to Note 17, “Stock Based Compensation”. Share based compensation represents the cost of shares and share options granted to employees of Danaos Shipping Company Limited (the “Manager”), executive officers and to directors, for their services, and is included under “General and administrative expenses” in the Consolidated Statements of Income. The shares are measured at their fair value equal to the market value of the Company’s common shares on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such shares is expensed on the grant date. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated attribution method, which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the costs of the award. Further, the Company accounts for restricted share award forfeitures upon occurrence. 2. Significant Accounting Policies (Continued) As of April 18, 2008, the Company established the Directors Share Payment Plan (“Directors Plan”). The purpose of the Directors Plan is to provide a means of payment of all or a portion of compensation payable to directors of the Company in the form of Company’s Common Stock. Each member of the Board of Directors of the Company may participate in the Directors Plan. Pursuant to the terms of the Directors Plan, Directors may elect to receive in Common Stock all or a portion of their compensation. On the last business day of each quarter, the rights of common stock are credited to each Director’s Share Payment Account. Following December 31st of each year, the Company will deliver to each Director the number of shares represented by the rights credited to their Share Payment Account during the preceding calendar year. Refer to Note 17, “Stock Based Compensation”. As of April 18, 2008, the Board of Directors and the Compensation Committee approved the Company’s ability to provide, from time to time, incentive compensation to the employees of the Manager, in the form of free shares of the Company’s common stock under the Plan. Prior approval is required by the Compensation Committee and the Board of Directors. The plan was effective since December 31, 2008. Pursuant to the terms of the plan, employees of the Manager may receive (from time to time) shares of the Company’s common stock as additional compensation for their services offered during the preceding period. The total amount of stock to be granted to employees of the Manager will be at the Company’s Board of Directors’ discretion only and there will be no contractual obligation for any stock to be granted as part of the employees’ compensation package in future periods. Refer to Note 17, “Stock Based Compensation”. Executive Retirement Plan: The Company established defined benefit retirement plan for its executive officers in December 2022. The actuarial determination of the projected benefit obligation was determined by calculating the present value of the projected benefit at retirement based on service completed at the valuation date, which incorporates management’s best estimate of the discount rate, salary escalation rate and retirement ages of executive officers. The discount rate used to value the defined benefit obligation is derived based on high quality income investments with duration similar to the duration of the obligation. Prior service cost arising from the retrospective recognition of past service was recognized in the Other Comprehensive Income. Prior service cost reclassification and other gains or losses are recognized under “Other income/(expenses), net” in the Consolidated Statements of Income. The actuarially determined expense for current service is recognized under “General and administrative expenses” in the Consolidated Statements of Income. The actuarially determined net interest costs on the defined benefit plan obligation is recognized under “Other finance expenses” in the Consolidated Statements of Income. All actuarial remeasurements arising from defined benefit plan are recognized in full in the period in which they arise in the Other Comprehensive Income.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2022
Acquisitions
Acquisitions	3. Acquisitions a. Gemini Shipholdings Corporation Prior to July 1, 2021 the Company owned 49% of Gemini Shipholdings Corporation’s (“Gemini”) issued and outstanding share capital and accounted for its financial results under the equity method of accounting. On July 1, 2021, the Company exercised its option to acquire the remaining 51% equity interest in Gemini from Virage International Ltd. for $86.7 million, which was fully paid by November 1, 2021. Substantially all of the fair value of the gross assets acquired is concentrated in adjusted vessels value, and the Company therefore accounted for the acquisition of the five vessels of Gemini as an asset acquisition. The Company’s previously held equity interest in Gemini was remeasured to its fair value on July 1, 2021, the date the controlling interest was acquired and the resulting gain of $64.1 million was recognized in “Equity income on investments” in the Consolidated Statements of Income. As of July 1, 2021, the Company fully consolidated the following vessel owning subsidiaries of Gemini: ​ ​ ​ ​ ​ ​ ​ Company Vessel Name Year Built TEU Averto Shipping S.A. Suez Canal 2002 5,610 Sinoi Marine Ltd. Kota Lima (ex Genoa) 2002 5,544 Kingsland International Shipping Limited Catherine C 2001 6,422 Leo Shipping and Trading S.A. Leo C 2002 6,422 Springer Shipping Co. Belita 2006 8,533 ​ The following table summarized the consideration exchanged and the fair value of assets acquired and liabilities assumed on July 1, 2021 (in thousands): ​ ​ ​ ​ Purchase price: ​ Purchase price (51%) ​ $ 86,700 Fair value of previously held interest (49%) ​ 83,300 Total purchase price ​ $ 170,000 Fair value of assets and liabilities acquired: ​ Vessels ​ 154,500 Right-of-use assets ​ 82,500 Cash, cash equivalents and restricted cash ​ 14,388 Current assets ​ 2,534 Assumed time charter liabilities ​ (36,001) Long-term debt (including current portion) ​ (23,125) Obligations under finance lease ​ (21,880) Current liabilities ​ (2,916) Fair value of net assets acquired ​ $ 170,000 ​ A condensed summary of the income statement of Gemini presented on a 100% basis is as follows for the periods that the entity was accounted for under the equity method of accounting (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Six months ended Year ended ​ ​ June 30, 2021 ​ December 31, 2020 Net operating revenues ​ $ 17,984 ​ $ 31,844 Net income ​ $ 8,091 ​ $ 12,873 ​ ​ 3. Acquisitions (Continued) The aggregate fair value of the assumed time charter liabilities was estimated at $36.0 million as determined at the acquisition date and is amortized under the straight line method over their estimated remaining charter duration. The weighted average remaining charter duration is 1.4 years at inception. The amortization of these assumed time charters amounted to $20.3 million and $15.3 million for the year ended December 31, 2022 and the period ended December 31, 2021, respectively, and is presented under “Operating revenues” in the Consolidated Statements of Income. The aggregate future amortization of the assumed time charters amounting to $0.4 million is presented under current “Unearned revenue” as of December 31, 2022. In July 2022, the Company fully repaid the finance lease liability assumed in July 2021, related to the Gemini’s vessels Suez Canal Kota Lima (ex Genoa), b. Danaos Management Support Pte. Limited On November 26, 2021, the Company acquired 100% of the issued and outstanding shares of Danaos Management Support Pte. Limited. (“DMS”), a company providing integrated web-enabled maritime software systems based in Singapore, for $2.1 million in cash payable on or before December 31, 2023, in order to establish the Company’s presence in Asia. The following table summarizes the consideration and the fair value of assets acquired and liabilities assumed on the acquisition date (in thousands): ​ ​ ​ ​ ​ Total purchase price $ 2,136 Fair value of assets and liabilities acquired: ​ Cash and cash equivalents ​ 1,834 Current assets ​ 829 Current liabilities ​ (527) Fair value of net assets acquired ​ $ 2,136 ​ The pro forma results of the DMS business acquisition are not material to the Company’s Statements of Income.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	12 Months Ended
	Dec. 31, 2022
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash	4. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of As of ​ December 31, 2022 December 31, 2021 December 31, 2020 Cash and cash equivalents ​ $ 267,668 ​ $ 129,410 ​ $ 65,663 Restricted cash ​ — ​ 346 ​ ​ — Total ​ $ 267,668 ​ $ 129,756 ​ $ 65,663 ​ The Company was required to maintain cash on a retention account as collateral for the then upcoming scheduled debt payments related to the now repaid Eurobank $30 mil. Facility, which was recorded in restricted cash under current assets as of December 31, 2021.

Fixed Assets, net & Advances fo

Fixed Assets, net & Advances for Vessels under Construction	12 Months Ended
	Dec. 31, 2022
Fixed Assets, net & Advances for Vessels under Construction
Fixed Assets, net & Advances for Vessels under Construction	5. Fixed Assets, net & Advances for Vessels under Construction Fixed assets, net consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vessel ​ Accumulated ​ Net Book ​ Costs Depreciation Value As of January 1, 2020 ​ $ 3,230,303 ​ $ (840,429) ​ $ 2,389,874 Additions ​ 191,594 ​ — ​ 191,594 Depreciation ​ — ​ (101,531) ​ (101,531) As of December 31, 2020 ​ $ 3,421,897 ​ $ (941,960) ​ $ 2,479,937 Additions ​ 495,546 ​ — ​ 495,546 Depreciation ​ — ​ (113,832) ​ (113,832) As of December 31, 2021 ​ $ 3,917,443 ​ $ (1,055,792) ​ $ 2,861,651 Additions ​ 4,580 ​ — ​ 4,580 Transfers from right-of-use assets and to vessel held for sale ​ ​ 79,179 ​ ​ (5,896) ​ ​ 73,283 Disposals ​ (97,306) ​ 10,500 ​ (86,806) Depreciation ​ — ​ (131,214) ​ (131,214) As of December 31, 2022 ​ $ 3,903,896 ​ $ (1,182,402) ​ $ 2,721,494 ​ On January 17, 2022, the Company entered into agreements to sell its vessels Catherine C Leo C Amalia C On April 1, 2022, the Company entered into contracts, as amended on April 21, 2022, for the construction of four 8,000 TEU container vessels for an aggregate purchase price of $372.7 million, out of which $145.9 million was advanced in 2022 and $226.8 million is expected to be paid at vessels delivery in 2024. On March 11, 2022, the Company entered into contracts for the construction of two 7,100 TEU container vessels for an aggregate purchase price of $156.0 million, out of which $39.0 million was advanced in 2022, $31.2 million is expected to be paid in 2023 and $85.8 million in 2024. Additionally, a supervision fee of $725 thousand per newbuilding vessel will be payable to Danaos Shipping Company Limited. Interest expense amounting to $5.0 million was capitalized to the vessels under construction in the year ended December 31, 2022 and none in the year ended December 31, 2021. On July 7, 2021, the Company entered into an agreement to acquire six 5,466 TEU sister vessels Wide Alpha, Stephanie C(ex Wide Bravo ), Maersk Euphrates , Wide India , Wide Juliet and Wide Hotel (built in 2014 through 2015) together with their existing charter agreements for an aggregate gross purchase price amounting to $ 260.0 million in cash, which was fully paid by September 30, 2021. The vessels were delivered from August 25, 2021 to October 6, 2021. The aggregate fair value of the assumed time charter liabilities was estimated at $ 74.1 million and is amortized under the straight line method over their estimated remaining charter duration. The weighted average remaining charter duration was 2.0 years at inception. The amortization of these assumed time charters amounted to $ 36.5 million and $ 12.3 million for the year ended December 31, 2022 and the period ended December 31, 2021, respectively, and is presented under “Operating revenues” in the Consolidated Statements of Income. The aggregate future amortization of the assumed time charters as of December 31, 2022 is as follows (in thousands): ​ ​ ​ ​ ​ Amortization for the periods ending: ​ December 31, 2023 ​ ​ 20,806 Until April 2024 ​ 4,534 Total ​ 25,340 Less: Current portion ​ (20,806) Total non-current portion ​ $ 4,534 ​ The amount of $20.8 million is presented under current “Unearned revenue” and $4.5 million under “Unearned revenue, net of current portion” in the Consolidated Balance Sheet as of December 31, 2022. 5. Fixed Assets, net & Advances for Vessels under Construction (Continued) As of December 31, 2022, the Company concluded that events and circumstances triggered the existence of potential impairment for some of the Company’s vessels. These indicators included volatility in the charter market and the vessels’ market values, as well as the potential impact the current marketplace may have on its future operations. As a result, the Company performed step one of the impairment assessment for some of the Company’s vessels by comparing the undiscounted projected net operating cash flows for each of these vessels to its carrying values. As of December 31, 2022, the Company’s assessment concluded that step two of the impairment analysis was not required for any vessel, as the undiscounted projected net operating cash flows of all vessels exceeded the carrying value of the respective vessels. As of December 31, 2021, the Company concluded that no events and circumstances triggered the existence of potential impairment of the Company’s vessels as none of the vessels had current market value below its carrying value. As of December 31, 2022 and 2021, no impairment loss was identified. The residual value (estimated scrap value at the end of the vessels’ useful lives) of the fleet was estimated at $ 487.3 million and $504.1 million as of December 31, 2022 and December 31, 2021, respectively. The Company has calculated the residual value of the vessels taking into consideration the 10 year average and the 5 year average of the scrap. The Company has applied uniformly the scrap value of $300 per ton for all vessels. The Company believes that $300 per ton is a reasonable estimate of future scrap prices, taking into consideration the cyclical nature of future demand for scrap steel. Although the Company believes that the assumptions used to determine the scrap rate are reasonable and appropriate, such assumptions are highly subjective, in part, because of the cyclical nature of future demand for scrap steel. On May 12, 2020, the Company refinanced the existing leaseback obligation related to the vessels Hyundai Honour and Hyundai Respect with a new sale and leaseback arrangement with Oriental Fleet International Company Limited (“Oriental Fleet”) amounting to $139.1 million with a four years term, at the end of which the Company will reacquire these vessels for an aggregate amount of $ 36.0 million or earlier, at the Company’s option, for a purchase price set forth in the agreement. This arrangement did not qualify for a sale of the vessels and the net proceeds were recognized as a financial leaseback liability. On April 12, 2021, the Company entered into a sale and leaseback arrangement with Oriental Fleet for the vessels CMA CGM Melisande, CMA CGM Attila, CMA CGM Tancredi, CMA CGM Bianca and CMA CGM Samson amounting to gross proceeds of $ 135.0 million with a five year term, at the end of which the Company will reacquire these vessels for an aggregate amount of $ 31.0 million or earlier, at the Company’s option, for a purchase price set forth in the agreement. This new arrangement did not qualify for a sale of the vessels and the net proceeds were recognized as a financial leaseback liability. This leaseback liability was early repaid in full on May 12, 2022. Under these lease arrangements, the Company is required to be in compliance with the same financial covenants as required by the credit facilities under Note 10 “Long-Term Debt, net”. The carrying value of the two vessels subject to leasing obligations amounted to $248.2 million as of December 31, 2022. The scheduled leaseback instalments subsequent to December 31, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ Instalments due by period ended: ​ December 31, 2023 ​ $ 30,915 Until May 2024 ​ 46,249 Total leaseback instalments ​ 77,164 Less: Imputed interest ​ (4,239) Total leaseback obligation ​ 72,925 Less: Deferred finance costs, net ​ ​ (914) Less: Current portion of long-term leaseback obligation ​ ​ (27,469) Long-term leaseback obligation, net of current portion ​ $ 44,542 ​

Deferred Charges, net

Deferred Charges, net	12 Months Ended
	Dec. 31, 2022
Deferred Charges, net
Deferred Charges, net	6. Deferred Charges, net Deferred charges, net consisted of the following (in thousands): ​ ​ ​ ​ ​ Drydocking and ​ ​ Special Survey ​ ​ Costs As of January 1, 2020 ​ $ 11,455 Additions ​ 16,916 Amortization ​ (11,032) As of December 31, 2020 ​ $ 17,339 Additions ​ ​ 4,643 Amortization ​ ​ (10,181) As of December 31, 2021 ​ $ 11,801 Additions ​ 29,939 Write-off ​ ​ (4,016) Amortization ​ (12,170) As of December 31, 2022 ​ $ 25,554 ​ In November 2022, the Company wrote-off $4.0 million of drydocking deferred charges related to the sale of the vessels Catherine C Leo C - . The Company follows the deferral method of accounting for drydocking and special survey costs in accordance with accounting for planned major maintenance activities, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period until the next scheduled survey, which is two and a half years. If special survey or drydocking is performed prior to the scheduled date, the remaining unamortized balances are immediately written off. Furthermore, when a vessel is drydocked for more than one reporting period, the respective costs are identified and recorded in the period in which they were incurred and not at the conclusion of the drydocking.

Other Current and Non-current A

Other Current and Non-current Assets	12 Months Ended
	Dec. 31, 2022
Other Current and Non-current Assets
Other Current and Non-current Assets	7. Other Current and Non-current Assets Other current and non-current assets consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Equity participation ZIM ​ ​ — ​ $ 423,024 Straight-lining of revenue ​ $ 22,007 ​ ​ 18,997 Claims receivable ​ ​ 15,169 ​ ​ 8,919 Vessel held for sale ​ ​ 3,297 ​ ​ — Other assets ​ ​ 7,332 ​ ​ 8,192 Total current assets ​ $ 47,805 ​ $ 459,132 ​ ​ ​ ​ ​ ​ ​ Straight-lining of revenue ​ $ 83,873 ​ $ 39,927 Other assets ​ 6,050 ​ 1,812 Total non-current assets ​ $ 89,923 ​ $ 41,739 ​ a. ZIM The Company classified its equity participation in ZIM, received after the charter restructuring agreements with ZIM in 2014, at cost as the Company did not have the ability to exercise significant influence. In 2016, the Company tested for impairment of its equity participation in ZIM based on the existence of triggering events that indicated the interest in equity may have been impaired and recorded an impairment loss of $28.7 million, thus reducing its book value to nil. On January 27, 2021, ZIM completed its initial public offering and listing on the New York Stock Exchange (“NYSE”) of its ordinary shares. Following this offering the Company owned 10,186,950 ordinary shares of ZIM. In 2021, the Company sold 3,000,000 of ordinary shares of ZIM resulting in net proceeds of $120.7 million. The fair value of the remaining 7,186,950 ordinary shares of ZIM amounting to $423.0 million, representing 6.1% of ZIM’s outstanding ordinary shares, was presented under “Other current assets” in the Consolidated Balance Sheet as of December 31, 2021, based on the closing price of ZIM ordinary shares on the NYSE on that date. Refer to Note 13, “Financial Instruments—Fair value of Financial Instruments”. In 2022, the Company sold all the remaining shareholding interest of 7,186,950 ZIM’s ordinary shares for net proceeds of $246.6 million. For the years ended December 31, 2022 and 2021, the Company recognized $176.4 million loss and $543.7 million gain on these shares, respectively. These gains/losses are reflected under “Gain/(loss) on investments” in the Consolidated Statements of Income. Additionally, the Company recognized dividend income on these shares amounting to $165.4 million and $34.3 million in the years ended December 31, 2022 and 2021, respectively, which is recognized under “Dividend income” in the Consolidated Statements of Income. Taxes withheld on dividend income amounted to $18.3 million and $5.9 million in the years ended December 31, 2022 and 2021, respectively, and are reflected under “Income taxes” in the Consolidated Statements of Income. The Company received $2.4 million of mandatory repayment of ZIM Series 1 Notes from excess cash of ZIM in March 2021 and $47.2 million of mandatory repayment of all remaining ZIM Series 1 and Series 2 Notes and accrued interest of $6.4 million in June 2021. The Company recognized $6.6 million and $4.3 million in relation to total interest income and fair value unwinding of ZIM notes in the Consolidated Statements of Income under “Interest income” for years ended December 31, 2021 and 2020, respectively. Furthermore, in July 2014, an amount of $39.1 million, which represents the additional compensation received from ZIM, was recorded as unearned revenue representing compensation to the Company for the future reductions in the daily charter rates payable by ZIM under its time charters, which expired in 2020 or 2021, for six of the Company’s vessels. This amount was recognized in the Consolidated Statements of Income under “Operating revenues” over the remaining life of the respective time charters. For each of the years ended December 31, 2021 and 2020, respectively, the Company recorded an amount of $1.1 million and $5.4 million of unearned revenue amortization in “Operating revenues”. As of December 31, 2021 the outstanding balance was nil. ​ 7. Other Current and Non current Assets (Continued) b. HMM In July 2016, after the charter restructuring agreements with HMM, the Company obtained interest bearing senior unsecured HMM notes consisting of $32.8 million Loan Notes 1 with original maturity in July 2024 and $6.2 million Loan Notes 2 with original maturity in December 2022 and 4.6 million HMM shares. On September 1, 2016, the Company sold all HMM shares and the net proceeds were used to repay outstanding debt obligations. The Company received $19.9 million of mandatory repayment of HMM Loan Notes 1 and related accrued interest of $3.0 million in May 2021 and $6.1 million of mandatory repayment of HMM Loan Notes 2 and related accrued interest of $1.1 million in December 2021. Furthermore, for the years ended December 31, 2021 and 2020, the Company recognized $5.0 million and $2.1 million, respectively, in relation to total interest income and fair value unwinding of HMM notes under “Interest income” in the Consolidated Statements of Income. On July 18, 2016, the Company recognized unearned revenue of $75.6 million representing compensation to the Company for the future reductions in the daily charter rates payable by HMM under the time charter agreements. The amortization of unearned revenue is recognized in the Consolidated Statement of Income under “Operating revenues” over the remaining life of the respective charters. In each of the years ended December 31, 2022, 2021 and 2020, the Company recorded an amount of $8.2 million of unearned revenue amortization. As of December 31, 2022, the outstanding balances of the current and non-current portion of unearned revenue in relation to HMM amounted to $8.2 million and $2.5 million, respectively. As of December 31, 2021, the corresponding outstanding balances of the current and non-current portion of unearned revenue amounted to $8.2 million and $10.7 million, respectively. c. Available for sale category As described above, in 2021, ZIM and HMM redeemed all notes previously classified as available for sale. The following tables summarizes the gains/losses on available-for-sale debt securities for the years ended December 31, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ Gain/(loss) ​ ​ on available for ​ sale securities Balance as of January 1, 2020 ​ $ (38,224) Unrealized gain on available for sale securities ​ ​ 26,633 Balance as of December 31, 2020 $ (11,591) Gain on available for sale securities ​ ​ 20,803 Reclassification to interest income ​ (9,212) Balance as of December 31, 2021 ​ ​ — ​

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities
Accrued Liabilities	8. Accrued Liabilities Accrued liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Accrued payroll ​ $ 140 ​ $ 1,001 Accrued interest ​ 8,267 ​ 11,873 Accrued dry-docking expenses ​ ​ 2,332 ​ ​ 280 Accrued expenses ​ 10,623 ​ 7,692 Total ​ $ 21,362 ​ $ 20,846 ​ Accrued expenses mainly consisted of accruals related to the operation of the Company’s fleet and other expenses as of December 31, 2022 and December 31, 2021.

Lease Arrangements

Lease Arrangements	12 Months Ended
	Dec. 31, 2022
Lease Arrangements
Lease Arrangements	9. Lease Arrangements Charters-out As of December 31, 2022, the Company generated operating revenues from its 69 vessels on time charters or bareboat charter agreements, with remaining terms ranging from less than one year to June 2028. Under the terms of the charter party agreements, most charterers have options to extend the duration of contracts ranging from less than one year to three years after the expiration of the contract. The Company determines fair value of its vessels at the lease commencement date and at the end of lease term for lease classification with the assistance from valuations obtained by third party independent shipbrokers. The Company manages its risk associated with the residual value of its vessels after the expiration of the charter party agreements by seeking multi-year charter arrangements for its vessels. In May 2022, the Company received $238.9 million of charter hire prepayment related to charter contracts for 15 of the Company’s vessels, representing partial prepayment of charter hire payable up to January 2027. The future minimum payments, expected to be received on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of December 31, 2022 (in thousands): ​ ​ ​ ​ ​ 2023 $ 785,714 2024 ​ 602,950 2025 ​ 332,957 2026 ​ 187,994 2027 ​ 145,562 Thereafter ​ 34,054 Total future rentals ​ $ 2,089,231 ​ Rentals from time charters are not generally received when a vessel is off-hire, including time required for normal periodic maintenance of the vessel. In arriving at the future minimum rentals, an estimated time off-hire to perform periodic maintenance on each vessel has been deducted, although there is no assurance that such estimate will be reflective of the actual off-hire in the future.

Long-Term Debt, net

Long-Term Debt, net	12 Months Ended
	Dec. 31, 2022
Long-Term Debt, net
Long-Term Debt, net	10. Long-Term Debt, net Long-term debt consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ Balance as of Credit Facility December 31, 2022 December 31, 2021 BNP Paribas/Credit Agricole $130 mil. Facility ​ $ 120,000 ​ ​ — Alpha Bank $55.25 mil. Facility ​ ​ 55,250 ​ ​ — Citibank $382.5 mil. Revolving Credit Facility ​ ​ — ​ ​ — Senior unsecured notes ​ ​ 262,766 ​ $ 300,000 Citibank/Natwest $815 mil. Facility ​ ​ — ​ ​ 774,250 Macquarie Bank $58 mil. Facility ​ — ​ ​ 45,600 SinoPac $13.3 mil. Facility ​ — ​ ​ 10,800 Eurobank $30.0 mil. Facility ​ ​ — ​ ​ 21,375 Fair value of debt adjustment ​ ​ — ​ ​ (9,990) Total long-term debt ​ $ 438,016 ​ $ 1,142,035 Less: Deferred finance costs, net ​ ​ (8,076) ​ ​ (28,369) Less: Current portion ​ ​ (27,500) ​ ​ (95,750) Total long-term debt net of current portion and deferred finance costs ​ $ 402,440 ​ $ 1,017,916 ​ ​ 10. Long-Term Debt, net (Continued) In May 2022, the Company early extinguished $270.0 million of the outstanding Natwest loan principal of the Citibank/Natwest $815 mil. Facility, which reduced the future quarterly instalments of the remaining Citibank facility to $12.9 million and the balloon payment at maturity was reduced to $309.0 million. Additionally, the reference to LIBOR was replaced with daily non-cumulative compounded secured overnight financing rate administered and published by the Federal Reserve Bank of New York (“SOFR”) plus credit spread adjustment. In the second quarter of 2022, the Company also early extinguished (i) $43.0 million loan outstanding with Macquarie Bank (ii) $20.6 million loan outstanding with Eurobank and (iii) $9.8 million loan outstanding with SinoPac. In June 2022, the Company drew down $130.0 million of senior secured term loan facility from BNP Paribas and Credit Agricole, which is secured by six 5,466 TEU sister vessels acquired in 2021. This facility is repayable in eight quarterly instalments of $5.0 million, twelve quarterly instalments of $1.9 million together with a balloon payment of $67.2 million payable over five-year term. The facility bears interest at SOFR plus a margin of 2.16% as adjusted by the sustainability margin adjustment. In December 2022, the Company early extinguished the remaining $437.75 million of the Citibank/Natwest $815 mil. Facility and replaced it with Citibank of up to $382.5 mil. Revolving Credit Facility, out of which nil is drawn down as of December 31, 2022 and with Alpha Bank $55.25 mil. Facility, which was drawn down in full and outstanding as of December 31, 2022. Citibank $ 382.5 mil. Revolving Credit Facility is reducing and repayable over 5 years in 20 quarterly reductions of $ 11.25 million each together with a final reduction of $ 157.5 million at maturity in December 2027. This facility bears interest at SOFR plus a margin of 2.0 % and commitment fee of 0.8 % on any undrawn amount and is secured by sixteen of the Company’s vessels. Alpha Bank $ 55.25 mil. Facility is repayable over 5 years with 20 consecutive quarterly instalments of $ 1.875 million each, together with a balloon payment of $ 17.75 million at maturity in December 2027. This facility bears interest at SOFR plus a margin of 2.3 % and is secured by two of the Company’s vessels. The above debt extinguishments and the extinguishment of the Oriental Fleet leaseback arrangement (see Note 5 “Fixed Assets, net & Advances for Vessels under Construction”) resulted in a total net gain on debt extinguishment of $4.4 million in the year ended December 31, 2022 compared to total net gain on debt extinguishment of $111.6 million related to the debt refinancing on April 12, 2021. The Company incurred interest expense amounting to $55.7 million (including interest on leaseback obligations), out of which $5.0 million was capitalized in the year ended December 31, 2022 compared to $53.1 million of interest expense incurred (including interest on leaseback obligations) and none capitalized in the year ended December 31, 2021 and $36.7 million of interest expense incurred (including interest on leaseback obligations) and none capitalized in the year ended December 31, 2020. Total interest paid, net of amounts capitalized (including interest on leaseback obligations) during the years ended December 31, 2022, 2021 and 2020 was $54.0 million, $42.8 million and $35.2 million, respectively. The weighted average interest rate on long-term borrowings (including leaseback obligations) for the years ended December 31, 2022, 2021 and 2020 was 5.3%, 4.4% and 4.6%, respectively. As of December 31, 2022, there was a $382.5 million remaining borrowing availability under the Company’s Citibank $382.5 mil. Revolving Credit Facility. Alpha Bank $55.25 mil. Facility and Citibank $382.5 mil. Revolving Credit Facility contain a requirement to maintain minimum fair market value of collateral vessels to loan value coverage of 120% and the BNP Paribas/Credit Agricole $130 mil. Facility of 125%. Additionally, these facilities require to maintain the following financial covenants: (i) minimum liquidity of $30.0 million; (ii) maximum consolidated debt (less cash and cash equivalents) to consolidated EBITDA ratio of 6.5 x; and (iii) minimum consolidated EBITDA to net interest expense ratio of 2.5 x. Each of the credit facilities except for Senior unsecured notes are collateralized by first preferred mortgages over the vessels financed, general assignment of all hire freights, income and earnings, the assignment of their insurance policies, as well as any proceeds from the sale of mortgaged vessels, stock pledges and benefits from corporate guarantees. The Company was in compliance with the financial covenants contained in the credit facilities agreements as of December 31, 2022 and December 31, 2021. Twenty-four of the Company’s vessels having a net carrying value of $1,592.4 million as of December 31, 2022, were subject to first preferred mortgages as collateral to the Company’s credit facilities other than Senior unsecured notes. ​ 10. Long-Term Debt, net (Continued) On February 11, 2021, the Company issued in a private placement, $300.0 million aggregate principal amount of senior unsecured notes, which bear interest at a fixed rate of 8.50% per annum and mature on March 1, 2028. At any time on or after March 1, 2024, March 1, 2025 and March 1, 2026 the Company may elect to redeem all or any portion of the notes, respectively, at a price equal to 104.25% , 102.125% and 100% , respectively, of the principal amount being redeemed. Prior to March 1, 2024 the Company may redeem up to 35% of the aggregate principal of the notes from equity offering proceeds at a price equal to 108.50% within 90 days after the equity offering closing. In December 2022, the Company repurchased $ 37.2 million aggregate principal amount of its unsecured senior notes in a privately negotiated transaction. Interest payments on the notes are payable semi-annually commencing on September 1, 2021. $9.0 million of bond issuance costs were deferred over the life of the bond and recognized through the effective interest method. Principal Payments The scheduled debt maturities of long-term debt subsequent to December 31, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ Principal Payments due by period ended repayments December 31, 2023 ​ $ 27,500 December 31, 2024 ​ ​ 21,300 December 31, 2025 ​ ​ 15,100 December 31, 2026 ​ ​ 15,100 December 31, 2027 ​ ​ 96,250 Thereafter ​ ​ 262,766 Total long-term debt ​ $ 438,016 ​ 2021 Refinancing On April 12, 2021, the Company consummated the refinancing of the existing 2018 credit facilities. The Company utilized the proceeds from the new $815 million facility with Citibank/NatWest, the proceeds from the new $135 million sale and leaseback agreement with Oriental Fleet and the net proceeds amounting to $294.4 million from the $300 million Senior Notes, to refinance the existing 2018 credit facilities. The Citibank/Natwest $815 million senior secured credit facility with four-year term was repayable in sixteen quarterly instalments of $20.4 million starting from July 12, 2021 together with a balloon payment of $489.0 million at maturity. The credit facility bore interest at LIBOR plus a margin of 2.50% . The Company fully repaid Sinosure Cexim – Citibank – ABN Amro facility on March 18, 2021. The vessels CMA CGM Tancredi, CMA CGM Samson CMA CGM Bianca CMA CGM Melisande and CMA CGM Attila Additionally, on July 1, 2021, the Company assumed outstanding principal of a Eurobank facility from Gemini related to the vessels Belita, Leo C Catherine C The outstanding loan balances, exit fees and deferred financing fees related to the lenders (other than Citibank and Natwest (Royal Bank of Scotland)) under the Company’s existing 2018 credit facilities were fully repaid and accounted for under the extinguishment accounting. ​ 10. Long-Term Debt, net (Continued) The present value of the cash flows for the Citibank and Natwest (Royal Bank of Scotland) facilities were not substantially different from the present value of the remaining cash flows under the terms of the original instruments prior to the debt refinancing for each of the lenders, and, as such, the Company accounted for the debt refinancing as a modification. Legal and other fees related to the refinancing of $2.3 million were recorded in the income statement under the gain on debt extinguishment and $15.6 million of loan arrangement fees were deferred over the life of the facility and recognized through the new effective interest method. Additional fees related to Citibank and Natwest (Royal Bank of Scotland) amounting to $12.0 million at the date of the refinancing, replaced the existing accrued exit fees due under the existing 2018 credit facilities and were payable in eight quarterly instalments. An outstanding amount of $6.0 million was presented under “Other current liabilities” and $3.0 million under “Other long-term liabilities” as of December 31, 2021. There is no remaining outstanding amount as of December 31, 2022, as these additional fees were paid together with the early extinguishment of these facilities in 2022. Accumulated accrued interest related to the prior HSH Nordbank AG - Aegean Baltic Bank - Piraeus Bank $382.5 mil. Facility amounting to $75.3 million as of April 12, 2021 and which was fully refinanced, will no longer require any future cash interest payments and therefore, was recognized in the income statement under the gain on debt extinguishment. Accumulated accrued interest related to the Royal Bank of Scotland $475.5 mil. Facility, which was refinanced by the Natwest part of the Citibank/Natwest facility was partially extinguished and accounted for under modification accounting resulting in a gain of $35.6 million related to the accumulated accrued interest that will not require any future cash interest payments. The remaining amount of $33.3 million as of April 12, 2021 continued to be recognized in the income statement until May 2022 when all the remaining outstanding Natwest loan principal of the Citibank/Natwest $815 mil. Facility was early extinguished and then remaining amount of the accumulated accrued interest of $26.9 million was recognized in the gain on debt extinguishment. The 2021 Refinancing resulted in a total net gain on debt extinguishment of $111.6 million separately recognized in the Consolidated Statement of Income in the year ended December 31, 2021.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions
Related Party Transactions	11. Related Party Transactions Management Services: On August 10, 2018, the term of the Company’s management agreement with the Manager was extended until December 31, 2024. Pursuant to the management agreement, the management fees are as follows for the years presented in the Consolidated Statements of Income: i) a daily management fee of $850, ii) a daily vessel management fee of $425 for vessels on bareboat charter and iii) a daily vessel management fee of $850 for vessels on time charter. Additionally, a fee of 1.25% on gross freight, charter hire, ballast bonus and demurrage with respect to each vessel in the fleet, a fee of 0.5% based on the contract price of any vessel bought and sold by the Manager on the Company’s behalf and a supervision fee of $725 thousand per vessel under construction are due to the Manager over the construction period starting from steel cutting. Management fees in 2022 amounted to approximately $21.9 million (2021: $19.9 million, 2020: $17.7 million), which are presented under “General and administrative expenses” in the Consolidated Statements of Income. Commissions to the Manager in 2022 amounted to approximately $14.6 million (2021: $10.4 million, 2020: $5.7 million), which are presented under “Voyage expenses” in the Consolidated Statements of Income. Commission of 0.5% on the contract price of the vessels sold in 2022 amounted to approximately $0.7 million presented under “Gain on sale of vessels” (2021: $1.3 million, 2020: $0.7 million were capitalized to the cost of newly acquired vessels). ​ 11. Related Party Transactions (Continued) The Company pays advances on account of the vessels’ operating expenses. These prepaid amounts are presented in the Consolidated Balance Sheets under “Due from related parties” totaling $34.0 million and $21.9 million as of December 31, 2022 and 2021, respectively. On July 1, 2021, the Company exercised its option to acquire the remaining 51% equity interest in Gemini from Virage International Ltd., a company controlled by the Company’s largest shareholder, for $86.7 million, which was fully paid by November 1, 2021 (refer to Note 3 “Acquisitions”). The Company employs its executive officers. The executive officers received an aggregate of $2.1 million (€2.0 million), $2.1 million (€1.8 million) and $1.8 million (€1.5 million) for the years ended December 31, 2022, 2021 and 2020, respectively. Prior service costs related to a defined benefit plan of $14.2 million were recognized in the other comprehensive income in the year ended December 31, 2022. Advances related to this plan amounting to $7.8 million were exercised in the period ended December 31, 2022 (refer to Note 19 “Executive Retirement Plan”), out of which $6.8 million remain unpaid and are presented under “Other current liabilities” as of December 31, 2022. Additionally, an amount of $0.1 million was due to executive officers and is presented under “Accounts payable” in the Consolidated Balance Sheets as of December 31, 2022 and December 31, 2021, respectively. The Company recognized non-cash share-based compensation expense in respect of awards to executive officers of $5.4 million, $11.8 million and $1.0 million in the years ended December 31, 2022, 2021, and 2020, respectively. Dr. John Coustas, the Chief Executive Officer of the Company, is a member of the Board of Directors of The Swedish Club, the primary provider of insurance for the Company, including a substantial portion of its hull & machinery, war risk and protection and indemnity insurance. During the years ended December 31, 2022, 2021 and 2020 the Company paid premiums to The Swedish Club of $6.6 million, $5.2 million and $4.3 million, respectively, which are presented under “Vessel operating expenses” in the Consolidated Statements of Income. As of December 31, 2022 and 2021, the Company had payable to The Swedish Club amounting to $1.0 million and nil, respectively.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2022
Taxes
Taxes	12. Taxes Under the laws of the countries of the Company’s ship owning subsidiaries’ incorporation and/or vessels’ registration, the Company’s ship operating subsidiaries are not subject to tax on international shipping income, however, they are subject to registration and tonnage taxes, which have been included under “Vessel operating expenses” in the accompanying Consolidated Statements of Income. Pursuant to the U.S. Internal Revenue Code (the “Code”), U.S.-source income from the international operation of ships is generally exempt from U.S. tax if the company operating the ships meets certain requirements. Among other things, in order to qualify for this exemption, the company operating the ships must be incorporated in a country which grants an equivalent exemption from income taxes to U.S. corporations. All of the Company’s ship-operating subsidiaries satisfy these initial criteria. In addition, these companies must be more than 50% owned by individuals who are residents, as defined, in the countries of incorporation or another foreign country that grants an equivalent exemption to U.S. corporations. These companies satisfied the more than 50% beneficial ownership requirement for 2022. In addition, should the beneficial ownership requirement not be met, the management of the Company believes that by virtue of a special rule applicable to situations where the ship operating companies are beneficially owned by a publicly traded company like the Company, the more than 50% beneficial ownership requirement can also be satisfied based on the trading volume, the Company’s shareholder composition and the anticipated widely-held ownership of the Company’s shares, but no assurance can be given that this will be the case or remain so in the future, since continued compliance with this rule is subject to factors outside of the Company’s control. Income taxes comprised of $18.3 million and $5.9 million taxes withheld on dividend income earned on the Company’s investments in the year ended December 31, 2022 and 2021, respectively. ​

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2022
Financial Instruments
Financial Instruments	13. Financial Instruments The following is a summary of the Company’s risk management strategies and the effect of these strategies on the Company’s consolidated financial statements. Interest Rate Risk: Concentration of Credit Risk: Fair Value: Interest Rate Swaps: Fair Value of Financial Instruments The estimated fair values of the Company’s financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ As of December 31, 2021 ​ Book Value Fair Value Book Value Fair Value ​ ​ (in thousands of $) Cash and cash equivalents ​ $ 267,668 ​ $ 267,668 ​ $ 129,410 ​ $ 129,410 Restricted cash (2) ​ ​ — ​ ​ — ​ $ 346 ​ $ 346 Equity participation ZIM ​ ​ — ​ ​ — ​ $ 423,024 ​ $ 423,024 Secured long-term debt, including current portion (1) ​ $ 175,250 ​ $ 175,250 ​ $ 842,035 ​ $ 842,035 Unsecured long-term debt (1) ​ $ 262,766 ​ $ 255,868 ​ $ 300,000 ​ $ 300,000 ​ ​ 13. Financial Instruments (Continued) The estimated fair value of the financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ as of December 31, 2022 ​ Total (Level I) (Level II) (Level III) ​ ​ ​ (in thousands of $) Cash and cash equivalents ​ $ 267,668 ​ $ 267,668 ​ $ — ​ $ — Secured long-term debt, including current portion (1) ​ $ 175,250 ​ $ — ​ $ 175,250 ​ $ — Unsecured long-term debt (1) ​ $ 255,868 ​ $ 255,868 ​ $ — ​ $ — ​ The estimated fair value of the financial instruments that are measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ as of December 31, 2021 ​ Total (Level I) (Level II) (Level III) ​ ​ (in thousands of $) Equity participation ZIM ​ $ 423,024 ​ $ 423,024 ​ $ — ​ $ — ​ The estimated fair value of the financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ as of December 31, 2021 ​ Total (Level I) (Level II) (Level III) ​ ​ (in thousands of $) Cash and cash equivalents ​ $ 129,410 ​ $ 129,410 ​ $ — ​ $ — Restricted cash (2) ​ $ 346 ​ $ 346 ​ $ — ​ $ — Secured long-term debt, including current portion (1) ​ $ 842,035 ​ $ — ​ $ 842,035 ​ $ — Unsecured long-term debt (1) ​ $ 300,000 ​ $ — ​ $ 300,000 ​ $ — (1) Secured and unsecured long-term debt, including current portion is presented gross of deferred finance costs of $8.1 million and $28.4 million as of December 31, 2022 and December 31, 2021, respectively. The fair value of the Company’s secured debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities and does not include amounts related to the accumulated accrued interest. (2) The Company was required to maintain cash on a retention account as collateral for the then upcoming scheduled debt payments related to the now repaid the Eurobank $30 mil. Facility, which was recorded in restricted cash under current assets as of December 31, 2021.

Operating Revenue

Operating Revenue	12 Months Ended
	Dec. 31, 2022
Operating Revenue
Operating Revenue	14. Operating Revenue Operating revenue from significant customers (constituting more than 10% of total revenue) for the years ended December 31, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Charterer 2022 2021 2020 ​ CMA CGM 26 % 30 % 36 % HMM Korea ​ 12 % 17 % 24 % MSC 13 % — ​ — ​ ​

Operating Revenue by Geographic

Operating Revenue by Geographic Location	12 Months Ended
	Dec. 31, 2022
Operating Revenue by Geographic Location
Operating Revenue by Geographic Location	15. Operating Revenue by Geographic Location Operating revenue by geographic location of the customers for the years ended December 31, was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Continent 2022 2021 2020 Australia—Asia ​ $ 482,769 ​ $ 323,172 ​ $ 203,991 Europe ​ 507,293 ​ 338,124 ​ 242,704 America ​ ​ 3,282 ​ ​ 28,209 ​ ​ 14,899 Total Revenue ​ $ 993,344 ​ $ 689,505 ​ $ 461,594 ​

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	16. Commitments and Contingencies On September 1, 2016, Hanjin Shipping, a charterer of eight of the Company’s vessels, referred to the Seoul Central District Court, which issued an order to commence the rehabilitation proceedings of Hanjin Shipping. Hanjin Shipping has cancelled all eight charter party agreements with the Company. On February 17, 2017, the Seoul Central District Court (Bankruptcy Division), declared the bankruptcy of Hanjin Shipping, converting the rehabilitation proceeding to a bankruptcy proceeding. The Seoul Central District Court (Bankruptcy Division) appointed a bankruptcy trustee to dispose of Hanjin Shipping’s remaining assets and distribute the proceeds from the sale of such assets to Hanjin Shipping’s creditors according to their priorities. The Company ceased recognizing revenue from Hanjin Shipping effective from July 1, 2016 onwards. The Company has a total unsecured claim submitted to the Seoul Central District Court for unpaid charter hire, charges, expenses and loss of profit against Hanjin Shipping totaling $597.9 million, which is not recognized in the accompanying Consolidated Balance Sheet as of December 31, 2022 and 2021. On January 20, 2021, the Company received $3.9 million from Hanjin Shipping as a partial payment of a common benefit claim plus interest. This payment is presented under “Other income/(expense), net” in the Company’s Consolidated Statements of Income. There are no other material legal proceedings to which the Company is a party or to which any of its properties are the subject, or other contingencies that the Company is aware of, other than routine litigation incidental to the Company’s business. The Company has outstanding commitments under vessel construction contracts and buyback obligations related to the sale and leaseback arrangements as of December 31, 2022, see Note 5 “Fixed Assets, Net & Advances for Vessels under Construction”.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2022
Stock Based Compensation
Stock Based Compensation	17. Stock Based Compensation As of April 18, 2008, the Board of Directors and the Compensation Committee approved incentive compensation of the Manager’s employees with the Company’s shares from time to time, after specific for each such time, decision by the compensation committee and the Board of Directors in order to provide a means of compensation in the form of free shares to certain employees of the Manager of the Company’s common stock. The plan was effective as of December 31, 2008. Pursuant to the terms of the plan, employees of the Manager may receive (from time to time) shares of the Company’s common stock as additional compensation for their services offered during the preceding period. The total amount of stock to be granted to employees of the Manager will be at the Company’s Board of Directors’ discretion only and there will be no contractual obligation for any stock to be granted as part of the employees’ compensation package in future periods. On September 14, 2018, the Company granted 298,774 shares of restricted stock to executive officers of the Company, out of which 149,386 restricted shares vested on December 31, 2019 and 149,388 restricted shares vested on December 31, 2021. On May 10, 2019, the Company granted 137,944 shares of restricted stock to certain employees of the Manager (including 35,714 shares to executive officers), out of which 4,168 shares were forfeited in 2019 and 66,888 restricted shares vested on December 31, 2019. In 2020 and 2021, 714 and 1,685 of these shares were forfeited, respectively, and 64,489 restricted shares vested on December 31, 2021. On February 12, 2021, the Company granted 110,000 fully vested shares to executive officers and Board of Directors members. On March 16, 2021, the Company granted 40,000 shares to certain employees of the Manager, out of which 10,000 fully vested on the grant date, 1,050 were forfeited and 9,650 restricted shares vested on December 31, 2021. Additional 224 restricted shares were forfeited in the year ended December 31, 2022 and the remaining 19,076 restricted shares vested on December 31, 2022. On December 10, 2021, the Company granted 110,000 fully vested shares to executive officers and Board of Directors members and on December 21, 2021, the Company granted 10,000 fully vested shares to certain employees of the Manager. On December 14, 2022, the Company granted 100,000 fully vested shares to executive officers. The fair value of shares granted was calculated based on the closing trading price of the Company’s shares at the grant date. Stock based compensation expenses of $6.0 million, $15.3 million and $1.2 million were recognized under “General and administrative expenses” in the Company’s Consolidated Statements of Income in the years ended December 31, 2022, 2021 and 2020, respectively. The average price of issued shares was $54.40 per share and $66.00 per share in the years ended December 31, 2022 and 2021, respectively. No restricted shares were issued and outstanding as of December 31, 2022. As of December 31, 2021, 19,300 shares of restricted stock were issued and outstanding. The aggregate number of shares of common stock for which awards may be granted under the Plan shall not exceed 1,000,000 shares plus the number of unvested shares granted before August 2, 2019. The equity awards may be granted by the Company’s Compensation Committee or Board of Directors under its amended and restated 2006 equity compensation plan. Awards made under the Plan that have been forfeited, cancelled or have expired, will not be treated as having been granted for purposes of the preceding sentence. The Company has also established the Directors Share Payment Plan under its 2006 equity compensation plan. The purpose of the plan is to provide a means of payment of all or a portion of compensation payable to directors of the Company in the form of Company’s common stock. The plan was effective as of April 18, 2008. Each member of the Board of Directors of the Company may participate in the plan. Pursuant to the terms of the plan, Directors may elect to receive in common stock all or a portion of their compensation. Following December 31 of each year, the Company delivers to each Director the number of shares represented by the rights credited to their Share Payment Account during the preceding calendar year. During 2022, 2021 and 2020, none of the directors elected to receive shares as compensation.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity
Stockholders' Equity	18. Stockholders’ Equity In the year ended December 31, 2022, the Company declared and paid a dividend of $0.75 per share of common stock in each of February, May, August and November amounting to $61.5 million. In the year ended December 31, 2021, the Company declared a dividend of $0.50 per share of common stock in each of May, August and November amounting to $30.9 million. During 2020, the Company did not declare any dividends. The Company issued 143 and 146 shares of common stock at par value of $0.01 pursuant to its dividends reinvestment plan in the year ended December 31, 2022 and 2021, respectively, at an average price of $69.59 per share and $72.19 per share, respectively. In June 2022, the Company announced a share repurchase program of up to $100 million of the Company’s common stock. The Company repurchased 466,955 shares of the Company’s common stock in the open market for $28.6 million until December 31, 2022. In October 2020, the Company repurchased 4,339,271 shares of the Company’s common stock for an aggregate purchase price of $31.1 million in privately negotiated transactions, including 2,517,013 shares from the Royal Bank of Scotland and 1,822,258 shares from Sphinx Investment Corp. Refer to Note 17 “Stock Based Compensation” for information on the Company’s compensation plans. As of December 31, 2022, 25,155,928 shares were issued and 20,349,702 shares were outstanding; and 25,056,009 shares were issued and 20,716,738 shares were outstanding and as of December 31, 2021. As of December 31, 2022 and December 31, 2021, 4,806,226 and 4,339,271 shares were held as Treasury shares, respectively. Under the Articles of Incorporation as amended on September 18, 2009, the Company’s authorized capital stock consists of 750,000,000 shares of common stock with a par value of $0.01 and 100,000,000 shares of preferred stock with a par value of $0.01.

Executive Retirement Plan

Executive Retirement Plan	12 Months Ended
	Dec. 31, 2022
Executive Retirement Plan
Executive Retirement Plan	19. Executive Retirement Plan Effective from December 14, 2022, the Company maintains a defined benefit retirement plan for its executive officers. The actuarial determination of the projected benefit obligation was determined by calculating the present value of the projected benefit at retirement based on service completed at the valuation date, which incorporates management’s best estimate of the discount rate of 3.8% (based on the Markit iBoxx EUR Corporates AA over 10 years index), salary escalation of up to 4.5% per annum,as well as assumed retirement ages of the executive officers between 65 to 74 years old. Prior service cost arising from the retrospective recognition of past service of $14.2 million was recognized in the Other Comprehensive Income, out of which advances amounting to $7.8 million were exercised in the period ended December 31, 2022. Defined benefit obligation of $6.4 million is presented under “Other long-term liabilities” as of December 31, 2022. The accumulated benefit obligation amounts to $3.0 million as of December 31, 2022. Prior service cost of this defined benefit obligation amounting to $7.8 million was reclassified to “ Other income/(expense) , net” for the year ended December 31, 2022 and $0.7 million is expected to be reclassified in the year ending December 31, 2023. Additionally, projected periodic benefit cost of $0.8 million is expected in the year ending December 31, 2023. The assumptions used are the best estimates chosen from a range of possible actuarial assumptions, which may not necessarily be borne out in practice. The average remaining duration of the defined benefit obligation is 8.1 years as of December 31, 2022. The benefits of $0.7 million and $2.8 million are expected to be paid in 2025 and 2030, respectively, based on the assumptions used by the actuaries to measure the benefit obligations as of December 31, 2022. ​

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2022
Earnings per Share
Earnings per Share	20. Earnings per Share The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 559,210 ​ $ 1,052,841 ​ $ 153,550 Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares outstanding ​ ​ 20,482 ​ ​ 20,345 ​ ​ 23,589 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Dilutive effect of non-vested shares ​ 19 ​ 239 ​ 216 Diluted weighted average common shares outstanding ​ ​ 20,501 ​ ​ 20,584 ​ ​ 23,805 ​ Basic and diluted earnings per share amount related to a gain on troubled debt write-off amounting to $29.4 million and $111.6 million recorded in the year ended December 31, 2022 and 2021, respectively, is $1.43 and $1.43 per share, respectively, in the year ended December 31, 2022; and $5.49 and $5.42 per share, respectively, in the year ended December 31, 2021 (see Note 10).

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events
Subsequent Events	21. Subsequent Events In January 2023, the Company gave early termination notice to Oriental Fleet about its intention to fully repay its outstanding leaseback obligations related to two of its vessels by May 12, 2023. See Note 5 “Fixed Assets, net & Advances for Vessels under Construction”. ​ On February 14, 2023, the Company declared a dividend of $0.75 per share of common stock amounting to $15.3 million, which is payable on March 14, 2023, to holders of record on February 28, 2023. ​

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation: The Company also consolidates entities that are determined to be variable interest entities, of which the Company is the primary beneficiary, as defined in the accounting guidance, if it determines that it is the primary beneficiary. A variable interest entity is defined as a legal entity where either (a) equity interest holders as a group lack the characteristics of a controlling financial interest, including decision making ability and an interest in the entity’s residual risks and rewards, or (b) the equity holders have not provided sufficient equity investment to permit the entity to finance its activities without additional subordinated financial support, or (c) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Inter-company transaction balances and unrealized gains/(losses) on transactions between the companies are eliminated.
Investments in affiliates	Investments in affiliates:
Use of Estimates	Use of Estimates:
Reclassifications in Other Comprehensive Income/(Loss)	Reclassifications in Other Comprehensive Income/(Loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ Location of Reclassification into Income 2022 2021 2020 Amortization of deferred realized losses on cash flow hedges ​ Loss on derivatives ​ $ 3,622 ​ $ 3,622 ​ $ 3,632 Reclassification of prior service cost of defined benefit plan ​ Other income/(expense), net ​ ​ 7,808 ​ ​ — ​ ​ — Reclassification to interest income Interest income ​ — ​ (9,211) ​ — Total Reclassifications ​ ​ ​ $ 11,430 ​ $ (5,589) ​ $ 3,632 ​
Foreign Currency Translation	Foreign Currency Translation:
Cash and Cash Equivalents	Cash and Cash Equivalents:
Restricted Cash	Restricted Cash:
Accounts Receivable, Net	Accounts Receivable, Net:
Insurance Claims	Insurance Claims:
Prepaid Expenses and Inventories	Prepaid Expenses and Inventories:
Deferred Financing Costs	Deferred Financing Costs: Loan arrangement fees incurred for obtaining new loans, for loans that have been accounted for as modified and the fees paid to third parties for loans that have been accounted for as extinguished, where there is a replacement debt and the lender remains the same, are deferred and amortized over the loans’ respective repayment periods using the effective interest rate method and are presented in the consolidated balance sheets as a direct deduction from the carrying amount of debt liability or under “Other non-current assets” if no related debt liability is drawn down at a period-end. Unamortized deferred financing costs for extinguished facilities are written-off. Loan arrangement fees related to the facilities accounted for under troubled debt restructuring with future undiscounted cash flows greater than the net carrying value of the original debt are capitalized and amortized over the loan respective repayment period using the effective interest rate method. Additionally, amortization of deferred finance costs is included in interest expenses in the Consolidated Statements of Income.
Fixed Assets	Fixed Assets: The Company acquired six vessels in the secondhand market and five vessels from Gemini Shipholdings Corporation (“Gemini”) in 2021 and five vessels in the secondhand market in 2020, all of which were considered to be acquisitions of assets. Following adoption of ASU 2017-01 “Business Combinations (Topic 805)” on January 1, 2018, the Company evaluates if any vessel acquisition in secondhand market constitutes a business or not. When substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. The following assets are considered as a single asset for the purposes of the evaluation (i) a tangible asset that is attached to and cannot be physically removed and used separately from another tangible assets (or an intangible asset representing the right to use a tangible asset); (ii) in place lease intangibles, including favorable and unfavorable intangible assets or liabilities, and the related leased assets. The Company charters in certain vessels under a long-term sale and leaseback arrangement. The proceeds received by the Company from the buyer-lessor were recognized as a financial leaseback obligation as this arrangement did not qualify for a sale of these vessels. The Company has substantive repurchase obligation of these vessels at the end of the leaseback period or earlier, at the Company’s option, and retains the control over these vessels. Each leaseback payment is allocated between the liability and interest expense to achieve a constant interest rate on the leaseback obligation outstanding. The interest element of the leaseback payment is charged under “Interest expense” in the accompanying Consolidated Statements of Income over the leaseback period.
Time Charters Assumed on Acquisition of Vessels	Time Charters Assumed on Acquisition of Vessels:
Depreciation	Depreciation: The cost of the Company’s vessels is depreciated on a straight-line basis over the vessels’ remaining economic useful lives after considering the estimated residual value (refer to Note 5, “Fixed Assets, net & Right-of-use Assets”). Management has estimated the useful life of the Company’s vessels to be 30 years from the year built.
Right-of-Use Assets and Finance Lease Obligations	Right-of-Use Assets and Finance Lease Obligations: Finance leases are accounted for as the acquisition of a right-of-use asset and the incurrence of a finance lease obligation by the lessee. On the lease commencement date, a lessee is required to measure and record a lease liability equal to the present value of the remaining lease payments, discounted using the rate of implicit in the lease or if the rate implicit in the lease is not readily determined, at the lessee’s incremental borrowing rate. Subsequently, the lease liability is increased by the interest on the lease liability, determined using effective interest rate that produces a constant periodic discount rate on the remaining balance of the liability, and decreased by the lease payments during the period. A lessee initially measures the right-of-use asset at cost, which consists of: the amount of the initial measurement of the lease liability, any lease payments made to the lessor at or before the commencement date, minus any lease incentives received and any initial direct cost incurred by the lessee. Subsequently, the right-of-use asset is measured at cost plus payment for leasehold improvement less any accumulated amortization and impairment charges. Amortization expense is calculated and recognized on a straight-line basis over the shorter of the useful life of the asset or the lease term, after considering the estimated residual value of the vessel. The residual value of the vessel is equal to the product of its lightweight tonnage and estimated scrap rate at $300 per ton. Amortization of right-of-use assets is included under “Depreciation and amortization of right-of-use assets” in the Consolidated Statements of Income. However, if the lease transfers ownership of the underlying asset to the lessee or the lessee is reasonably certain to exercise an option to purchase the underlying assets, the lessee shall amortize the right-of-use of asset to the end of the useful life of the underlying asset. Management has estimated the useful life of the Company’s vessels to be 30 years from the year built.
Vessels held for sale	Vessels held for sale: Advances for Vessels under Construction:
Accounting for Special Survey and Drydocking Costs	Accounting for Special Survey and Drydocking Costs: The Company follows the accounting guidance for planned major maintenance activities. Drydocking and special survey costs, which are reported in the balance sheet within “Deferred charges, net”, include planned major maintenance and overhaul activities for ongoing certification including the inspection, refurbishment and replacement of steel, engine components, electrical, pipes and valves, and other parts of the vessel. The Company follows the deferral method of accounting for special survey and drydocking costs, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period until the next scheduled survey and drydocking, which is two and a half years . If a special survey or drydocking is performed prior to the scheduled date, the remaining unamortized balances are immediately written off. The amortization periods reflect the estimated useful economic life of the deferred charge, which is the period between each special survey and drydocking. Costs incurred during the drydocking period relating to routine repairs and maintenance are expensed. The unamortized portion of special survey and drydocking costs for vessels sold is included as part of the carrying amount of the vessel in determining the gain/(loss) on sale of the vessel.
Pension and Retirement Benefit Obligations-Crew	Pension and Retirement Benefit Obligations-Crew: The crew on board the companies’ vessels serve in such capacity under short-term contracts (usually up to seven months ) and accordingly, the vessel-owning companies are not liable for any pension or post-retirement benefits.
Dividends	Dividends:
Impairment of Long-lived Assets	Impairment of Long-lived Assets: As of December 31, 2022, the Company concluded that events and circumstances triggered the existence of potential impairment of some of its vessels. These indicators included volatility in the charter market and the vessels’ market values, as well as the potential impact the current marketplace may have on its future operations. As a result, the Company performed step one of the impairment assessment for some of the Company’s vessels by comparing the undiscounted projected net operating cash flows for each vessel to its carrying value. The Company’s strategy is to charter its vessels under multi-year, fixed rate period charters that have the initial terms ranging from less than 1 to 18 years for vessels in its fleet, providing the Company with contracted stable cash flows. The Company used a number of factors and assumptions in its undiscounted projected net operating cash flow analysis including, among others, operating revenues, off-hire revenues, drydocking costs, operating expenses and management fees estimates. Revenue assumptions were based on contracted time charter rates up to the end of life of the current contract of each vessel as well as the estimated time charter equivalent rates for the remaining life of the vessel after the completion of its current contract for non-contracted revenue days. The estimated daily time charter equivalent rate used for the non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container transportation industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that the most recent 5 to 15 years historical average time charter rates represent a reasonable benchmark for the estimated time charter equivalent rates for the non-contracted revenue days, as such averages take into account the volatility and cyclicality of the market. In addition, the Company used an annual operating expenses escalation factor and estimates of scheduled and unscheduled off-hire revenues based on historical experience. All estimates used and assumptions made were in accordance with the Company’s internal budgets and historical experience of the shipping industry. As of December 31, 2021, the Company concluded that no events and circumstances triggered the existence of potential impairment of its vessels. As of December 31, 2022, the Company’s assessment concluded that step two of the impairment analysis was not required for any vessel, as the undiscounted projected net operating cash flows of all vessels exceeded the carrying value of the respective vessels. As of December 31, 2022 and December 31, 2021, no impairment loss was identified.
Business Combinations	Business Combinations:
Investments in Debt Securities	Investments in Debt Securities: The fair value of debt securities is estimated based on a weighted combination of (1) a yield-to-maturity analysis based on a quoted (non-binding) price from a third party broker, (2) a yield-to-maturity analysis of a similar bond(s) in an active market, (3) the available market data for yield-to-maturity for the corporate bonds, if available and (4) if applicable, redemption information announced by the issuer of the security. The weightings and the yield-to-maturities used in the calculation of fair value of the debt securities are assumptions that require significant management judgment. When the securities are impaired at the reporting date, and the Company does not meet the guidance for intending to sell or more likely than not being required to sell the securities before the amortized cost basis is recovered, the Company determines whether the impairment is related to credit or non-credit factors. To determine the amount of impairment related to credit, the Company compares the present value of the cash flows expected to be collected on the securities with the amortized cost basis of the securities. If the present value of cash flows expected to be collected is less than the securities’ amortized cost basis, the difference is recorded as an allowance for credit losses in the accompanying Consolidated Statements of Income. Any remaining difference between the securities’ fair value and amortized cost basis is considered to be non-credit related impairment and is recorded in the accompanying Consolidated Statements of Other Comprehensive Income.
Investments in Equity Securities	Investments in Equity Securities: Management evaluates the equity security for other than temporary impairment on a quarterly basis. An investment is considered impaired if the fair value of the investment is less than its cost. Consideration is given to significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee, significant adverse change in the regulatory, economic, or technological environment of the investee, significant adverse change in the general market condition of either the geographic area or the industry in which the investee operates, as well as factors that raise significant concerns about the investee’s ability to continue as a going concern, such as negative cash flows from operations, working capital deficiencies, or noncompliance with statutory capital requirements or debt covenants.
Accounting for Revenue and Expenses	Accounting for Revenue and Expenses: The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the nonlease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as adopted by the Company on January 1, 2019, as the lease component is the predominant component in 2022, 2021 and 2020.
Voyage Expenses	Voyage Expenses:
Vessel Operating Expenses	Vessel Operating Expenses:
General and administrative expenses	General and administrative expenses:
Repairs and Maintenance	Repairs and Maintenance:
Income taxes	Income taxes:
Troubled Debt Restructuring and Accumulated Accrued Interest	Troubled Debt Restructuring and Accumulated Accrued Interest: When interest rates change, actual cash flows will differ from the cash flows measured on the Refinancing closing date. The accounting treatment for changes in cash flows due to changes in interest rates depends on whether there is an increase or a decrease from the spot interest rate used in the initial TDR accounting (“threshold interest rate”). Fluctuations in the effective interest rate after the Refinancing from changes in the interest rate or other cause are accounted for as changes in estimates in the periods in which these changes occur. Upon an increase in the interest rates from the threshold interest rate used to calculate accumulated accrued interest payable, the Company recognizes additional interest expenses in the period the expense is incurred. The additional interest expense is calculated by multiplying the difference between the current interest rate and the threshold interest rate with the current carrying value of the debt. A gain due to decrease in interest rates (‘interest windfall’) will not be recognized until the debt facilities have been settled and there are no future interest payments. In case there are subsequent increases in interest rates above the threshold interest rate after a previous decrease in interest rates, the carrying amount of the accumulated accrued interest will be reduced by the interest payments in excess of the threshold interest rate until the prior interest windfall due to decrease in the interest rates is recaptured on a cumulative basis. The Paid-in-kind interest (“PIK interest”) related to each period will increase the carrying value of the loan facility and correspondingly decrease the carrying value of the accumulated accrued interest. PIK interest in excess of the amount recognized in the accumulated accrued interest is expensed in the period the expense is incurred.
Going Concern	Going Concern: If a substantial doubt to continue as a going concern is identified and after considering management’s plans this substantial doubt is alleviated the Company discloses the following: (i) principal conditions or events that raised substantial doubt about the Company’s ability to continue as a going concern (before consideration of management’s plans), (ii) management’s evaluation of the significance of those conditions or events in relation to the Company’s ability to meet its obligations, (iii) management’s plans that alleviated substantial doubt about the Company’s ability to continue as a going concern. If a substantial doubt to continue as a going concern is identified and after considering management’s plans this substantial doubt is not alleviated the Company discloses the following: (i) a statement indicating that there is substantial doubt about the Company’s ability to continue as a going concern, (ii) principal conditions or events that raised substantial doubt about the Company’s ability to continue as a going concern, (iii) management’s evaluation of the significance of those conditions or events in relation to the Company’s ability to meet its obligations, and (iv) management’s plans that are intended to mitigate the conditions or events that raised substantial doubt about the Company’s ability to continue as a going concern. The Company updates the going concern disclosure in subsequent periods until the period in which substantial doubt no longer exists disclosing how the relevant conditions or events that raised substantial doubt were resolved.
Segment Reporting	Segment Reporting: The Company reports financial information and evaluates its operations by total charter revenues. Although revenue can be identified for different types of charters, management does not identify expenses, profitability or other financial information for different charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus the Company has determined that it has only one operating and reportable segment.
Derivative Instruments	Derivative Instruments: ​ At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. On July 1, 2012, the Company elected to prospectively de-designate fair value and cash flow interest rate swaps for which it was following hedge accounting treatment due to the compliance burden associated with this accounting policy. As a result, all changes in the fair value of the Company’s cash flow interest rate swap agreements were recorded in earnings under “Loss on derivatives” from the de-designation date forward. The Company evaluated whether it is probable that the previously hedged forecasted interest payments are probable to not occur in the originally specified time period. The Company has concluded that the previously hedged forecasted interest payments are probable of occurring. Therefore, unrealized gains or losses in accumulated other comprehensive loss associated with the previously designated cash flow interest rate swaps will remain frozen in accumulated other comprehensive loss and recognized in earnings when the interest payments will be recognized. If such interest payments were to be identified as being probable of not occurring, the accumulated other comprehensive loss balance pertaining to these amounts would be reversed through earnings immediately. The Company does not use financial instruments for trading or other speculative purposes.
Earnings Per Share	Earnings Per Share:
Treasury Stock	Treasury Stock:
Equity Compensation Plan	Equity Compensation Plan: The Company has adopted an equity compensation plan (the “Plan”) in 2006 (as amended on August 2, 2019), which is generally administered by the compensation committee of the Board of Directors. The Plan allows the plan administrator to grant awards of shares of common stock or the right to receive or purchase shares of common stock to employees, directors or other persons or entities providing significant services to the Company or its subsidiaries. The actual terms of an award will be determined by the plan administrator and set forth in written award agreement with the participant. Any options granted under the Plan will be accounted for in accordance with the accounting guidance for share-based compensation arrangements. As of April 18, 2008, the Company established the Directors Share Payment Plan (“Directors Plan”). The purpose of the Directors Plan is to provide a means of payment of all or a portion of compensation payable to directors of the Company in the form of Company’s Common Stock. Each member of the Board of Directors of the Company may participate in the Directors Plan. Pursuant to the terms of the Directors Plan, Directors may elect to receive in Common Stock all or a portion of their compensation. On the last business day of each quarter, the rights of common stock are credited to each Director’s Share Payment Account. Following December 31st of each year, the Company will deliver to each Director the number of shares represented by the rights credited to their Share Payment Account during the preceding calendar year. Refer to Note 17, “Stock Based Compensation”.
Executive Retirement Plan	Executive Retirement Plan: The Company established defined benefit retirement plan for its executive officers in December 2022. The actuarial determination of the projected benefit obligation was determined by calculating the present value of the projected benefit at retirement based on service completed at the valuation date, which incorporates management’s best estimate of the discount rate, salary escalation rate and retirement ages of executive officers. The discount rate used to value the defined benefit obligation is derived based on high quality income investments with duration similar to the duration of the obligation. Prior service cost arising from the retrospective recognition of past service was recognized in the Other Comprehensive Income. Prior service cost reclassification and other gains or losses are recognized under “Other income/(expenses), net” in the Consolidated Statements of Income. The actuarially determined expense for current service is recognized under “General and administrative expenses” in the Consolidated Statements of Income. The actuarially determined net interest costs on the defined benefit plan obligation is recognized under “Other finance expenses” in the Consolidated Statements of Income. All actuarial remeasurements arising from defined benefit plan are recognized in full in the period in which they arise in the Other Comprehensive Income.

Basis of Presentation and Gen_2

Basis of Presentation and General Information (Tables)	12 Months Ended
	Dec. 31, 2022
Basis of Presentation and General Information
Schedule of the vessel owning companies (the "Danaos Subsidiaries")	As of December 31, 2022, Danaos consolidated the vessel owning companies (the “Danaos Subsidiaries”) listed below. All vessels are container vessels: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ​ ​ Company Date of Incorporation Vessel Name Built TEU(1) Megacarrier (No. 1) Corp. ​ September 10, 2007 Hyundai Honour 2012 13,100 Megacarrier (No. 2) Corp. ​ September 10, 2007 Hyundai Respect 2012 13,100 Megacarrier (No. 3) Corp. ​ September 10, 2007 Hyundai Smart 2012 13,100 Megacarrier (No. 4) Corp. ​ September 10, 2007 Hyundai Speed 2012 13,100 Megacarrier (No. 5) Corp. ​ September 10, 2007 Hyundai Ambition 2012 13,100 CellContainer (No. 6) Corp. ​ October 31, 2007 Express Berlin 2011 10,100 CellContainer (No. 7) Corp. ​ October 31, 2007 Express Rome 2011 10,100 CellContainer (No. 8) Corp. ​ October 31, 2007 Express Athens 2011 10,100 Karlita Shipping Co. Ltd. ​ February 27, 2003 Pusan C 2006 9,580 Ramona Marine Co. Ltd. ​ February 27, 2003 Le Havre 2006 9,580 Oceancarrier (No. 2) Corp. ​ October 15, 2020 ​ Bremen ​ 2009 ​ 9,012 Oceancarrier (No. 3) Corp. ​ October 15, 2020 ​ C Hamburg ​ 2009 ​ 9,012 Blackwell Seaways Inc. ​ January 9, 2020 ​ Niledutch Lion ​ 2008 ​ 8,626 Oceancarrier (No. 1) Corp. ​ February 19, 2020 ​ Kota Manzanillo (ex Charleston) ​ 2005 ​ 8,533 Springer Shipping Co. ​ April 29, 2019 ​ Belita ​ 2006 ​ 8,533 Teucarrier (No. 5) Corp. ​ September 17, 2007 CMA CGM Melisande 2012 8,530 Teucarrier (No. 1) Corp. ​ January 31, 2007 CMA CGM Attila 2011 8,530 Teucarrier (No. 2) Corp. ​ January 31, 2007 CMA CGM Tancredi 2011 8,530 Teucarrier (No. 3) Corp. ​ January 31, 2007 CMA CGM Bianca 2011 8,530 Teucarrier (No. 4) Corp. ​ January 31, 2007 ​ CMA CGM Samson ​ 2011 ​ 8,530 Oceanew Shipping Ltd. ​ January 14, 2002 ​ Europe ​ 2004 ​ 8,468 Oceanprize Navigation Ltd. ​ January 21, 2003 ​ America ​ 2004 ​ 8,468 Rewarding International Shipping Inc. ​ October 1, 2019 ​ Kota Santos (ex Phoebe) ​ 2005 ​ 8,463 Boxcarrier (No. 2) Corp. ​ June 27, 2006 ​ CMA CGM Musset ​ 2010 ​ 6,500 Boxcarrier (No. 3) Corp. ​ June 27, 2006 ​ CMA CGM Nerval ​ 2010 ​ 6,500 Boxcarrier (No. 4) Corp. ​ June 27, 2006 ​ CMA CGM Rabelais ​ 2010 ​ 6,500 Boxcarrier (No. 5) Corp. ​ June 27, 2006 ​ CMA CGM Racine ​ 2010 ​ 6,500 Boxcarrier (No. 1) Corp. ​ June 27, 2006 ​ CMA CGM Moliere ​ 2009 ​ 6,500 Expresscarrier (No. 1) Corp. ​ March 5, 2007 ​ YM Mandate ​ 2010 ​ 6,500 Expresscarrier (No. 2) Corp. ​ March 5, 2007 ​ YM Maturity ​ 2010 ​ 6,500 Kingsland International Shipping Limited ​ June 26, 2015 ​ Catherine C (2) ​ 2001 ​ 6,422 Leo Shipping and Trading S.A. ​ October 29, 2015 ​ Leo C (2) ​ 2002 ​ 6,422 Actaea Company Limited ​ October 14, 2014 ​ Zim Savannah ​ 2002 ​ 6,402 Asteria Shipping Company Limited ​ October 14, 2014 ​ Dimitra C ​ 2002 ​ 6,402 Averto Shipping S.A. ​ June 12, 2015 ​ Suez Canal ​ 2002 ​ 5,610 Sinoi Marine Ltd. ​ June 12, 2015 ​ Kota Lima ​ 2002 ​ 5,544 Oceancarrier (No. 4) Corp. ​ July 6, 2021 ​ Wide Alpha ​ 2014 ​ 5,466 Oceancarrier (No. 5) Corp. ​ July 6, 2021 ​ Stephanie C (ex Wide Bravo) ​ 2014 ​ 5,466 Oceancarrier (No. 6) Corp. ​ July 6, 2021 ​ Maersk Euphrates ​ 2014 ​ 5,466 Oceancarrier (No. 7) Corp. ​ July 6, 2021 ​ Wide Hotel ​ 2015 ​ 5,466 Oceancarrier (No. 8) Corp. ​ July 6, 2021 ​ Wide India ​ 2015 ​ 5,466 Oceancarrier (No. 9) Corp. ​ July 6, 2021 ​ Wide Juliet ​ 2015 ​ 5,466 Continent Marine Inc. ​ March 22, 2006 Zim Monaco 2009 4,253 Medsea Marine Inc. ​ May 8, 2006 Dalian 2009 4,253 Blacksea Marine Inc. ​ May 8, 2006 Zim Luanda 2009 4,253 Bayview Shipping Inc. ​ March 22, 2006 Rio Grande 2008 4,253 Channelview Marine Inc. ​ March 22, 2006 Zim Sao Paolo 2008 4,253 Balticsea Marine Inc. ​ March 22, 2006 Zim Kingston 2008 4,253 Seacarriers Services Inc. ​ June 28, 2005 Seattle C 2007 4,253 Seacarriers Lines Inc. ​ June 28, 2005 Vancouver 2007 4,253 Containers Services Inc. ​ May 30, 2002 Tongala 2004 4,253 Containers Lines Inc. ​ May 30, 2002 Derby D 2004 4,253 Boulevard Shiptrade S.A ​ September 12, 2013 Dimitris C 2001 3,430 CellContainer (No. 4) Corp. ​ March 23, 2007 Express Spain 2011 3,400 CellContainer (No. 5) Corp. ​ March 23, 2007 Express Black Sea 2011 3,400 CellContainer (No. 1) Corp. ​ March 23, 2007 Express Argentina 2010 3,400 CellContainer (No. 2) Corp. ​ March 23, 2007 Express Brazil 2010 3,400 CellContainer (No. 3) Corp. ​ March 23, 2007 Express France 2010 3,400 Wellington Marine Inc. ​ January 27, 2005 Singapore 2004 ​ 3,314 Auckland Marine Inc. ​ January 27, 2005 Colombo 2004 ​ 3,314 Vilos Navigation Company Ltd. ​ May 30, 2013 ​ Zebra ​ 2001 2,602 Sarond Shipping Inc. ​ January 18, 2013 Artotina 2001 2,524 Trindade Maritime Company ​ April 10, 2013 ​ Amalia C (3) ​ 1998 2,452 Speedcarrier (No. 7) Corp. ​ December 6, 2007 Highway 1998 2,200 Speedcarrier (No. 6) Corp. ​ December 6, 2007 Progress C 1998 2,200 Speedcarrier (No. 8) Corp. ​ December 6, 2007 Bridge 1998 2,200 Speedcarrier (No. 1) Corp. ​ June 28, 2007 Phoenix D (ex Vladivostok) 1997 2,200 Speedcarrier (No. 2) Corp. ​ June 28, 2007 Advance 1997 2,200 Speedcarrier (No. 3) Corp. ​ June 28, 2007 ​ Stride ​ 1997 2,200 Speedcarrier (No. 5) Corp. ​ June 28, 2007 ​ Future ​ 1997 2,200 Speedcarrier (No. 4) Corp. ​ June 28, 2007 ​ Sprinter ​ 1997 2,200 Vessels under construction ​ ​ ​ ​ ​ ​ ​ ​ Boxsail (No. 1) Corp. ​ March 4, 2022 ​ Hull No. C7100-7 ​ 2024 ​ 7,100 Boxsail (No. 2) Corp. ​ March 4, 2022 ​ Hull No. C7100-8 ​ 2024 ​ 7,100 Teushipper (No. 1) Corp. ​ March 14, 2022 ​ Hull No. HN4009 ​ 2024 ​ 8,000 Teushipper (No. 2) Corp. ​ March 14, 2022 ​ Hull No. HN4010 ​ 2024 ​ 8,000 Teushipper (No. 3) Corp. ​ March 14, 2022 ​ Hull No. HN4011 ​ 2024 ​ 8,000 Teushipper (No. 4) Corp. ​ March 14, 2022 ​ Hull No. HN4012 ​ 2024 ​ 8,000 (1) Twenty-foot equivalent unit, the international standard measure for containers and containership capacity. (2) The Company completed the sale of the Catherine C and the Leo C in November 2022. (3) The Company held the Amalia C for sale as of December 31, 2022 and completed the sale in January 2023.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Significant Accounting Policies
Schedule of reclassifications out of accumulated other comprehensive loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ Location of Reclassification into Income 2022 2021 2020 Amortization of deferred realized losses on cash flow hedges ​ Loss on derivatives ​ $ 3,622 ​ $ 3,622 ​ $ 3,632 Reclassification of prior service cost of defined benefit plan ​ Other income/(expense), net ​ ​ 7,808 ​ ​ — ​ ​ — Reclassification to interest income Interest income ​ — ​ (9,211) ​ — Total Reclassifications ​ ​ ​ $ 11,430 ​ $ (5,589) ​ $ 3,632

Acquisitions (Table)

Acquisitions (Table)	12 Months Ended
	Dec. 31, 2022
Asset Acquisition [Line Items]
Schedule of vessel owning subsidiaries of Gemini	As of July 1, 2021, the Company fully consolidated the following vessel owning subsidiaries of Gemini: ​ ​ ​ ​ ​ ​ ​ Company Vessel Name Year Built TEU Averto Shipping S.A. Suez Canal 2002 5,610 Sinoi Marine Ltd. Kota Lima (ex Genoa) 2002 5,544 Kingsland International Shipping Limited Catherine C 2001 6,422 Leo Shipping and Trading S.A. Leo C 2002 6,422 Springer Shipping Co. Belita 2006 8,533 ​
Schedule of business acquisition, pro forma information	A condensed summary of the income statement of Gemini presented on a 100% basis is as follows for the periods that the entity was accounted for under the equity method of accounting (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Six months ended Year ended ​ ​ June 30, 2021 ​ December 31, 2020 Net operating revenues ​ $ 17,984 ​ $ 31,844 Net income ​ $ 8,091 ​ $ 12,873 ​
Gemini Shipholdings Corporation
Asset Acquisition [Line Items]
Schedule of consideration exchanged and the fair value of assets acquired and liabilities assumed	The following table summarized the consideration exchanged and the fair value of assets acquired and liabilities assumed on July 1, 2021 (in thousands): ​ ​ ​ ​ Purchase price: ​ Purchase price (51%) ​ $ 86,700 Fair value of previously held interest (49%) ​ 83,300 Total purchase price ​ $ 170,000 Fair value of assets and liabilities acquired: ​ Vessels ​ 154,500 Right-of-use assets ​ 82,500 Cash, cash equivalents and restricted cash ​ 14,388 Current assets ​ 2,534 Assumed time charter liabilities ​ (36,001) Long-term debt (including current portion) ​ (23,125) Obligations under finance lease ​ (21,880) Current liabilities ​ (2,916) Fair value of net assets acquired ​ $ 170,000 ​
Danaos Management Support Pte. Limited
Asset Acquisition [Line Items]
Schedule of consideration exchanged and the fair value of assets acquired and liabilities assumed	​ ​ ​ ​ ​ Total purchase price $ 2,136 Fair value of assets and liabilities acquired: ​ Cash and cash equivalents ​ 1,834 Current assets ​ 829 Current liabilities ​ (527) Fair value of net assets acquired ​ $ 2,136

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2022
Cash, Cash Equivalents and Restricted Cash
Schedule of cash, cash equivalents and restricted cash	Cash, cash equivalents and restricted cash consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of As of As of ​ December 31, 2022 December 31, 2021 December 31, 2020 Cash and cash equivalents ​ $ 267,668 ​ $ 129,410 ​ $ 65,663 Restricted cash ​ — ​ 346 ​ ​ — Total ​ $ 267,668 ​ $ 129,756 ​ $ 65,663 ​

Fixed Assets, net & Advances _2

Fixed Assets, net & Advances for Vessels under Construction (Tables)	12 Months Ended
	Dec. 31, 2022
Fixed Assets, net & Advances for Vessels under Construction
Schedule of fixed assets, net	Fixed assets, net consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vessel ​ Accumulated ​ Net Book ​ Costs Depreciation Value As of January 1, 2020 ​ $ 3,230,303 ​ $ (840,429) ​ $ 2,389,874 Additions ​ 191,594 ​ — ​ 191,594 Depreciation ​ — ​ (101,531) ​ (101,531) As of December 31, 2020 ​ $ 3,421,897 ​ $ (941,960) ​ $ 2,479,937 Additions ​ 495,546 ​ — ​ 495,546 Depreciation ​ — ​ (113,832) ​ (113,832) As of December 31, 2021 ​ $ 3,917,443 ​ $ (1,055,792) ​ $ 2,861,651 Additions ​ 4,580 ​ — ​ 4,580 Transfers from right-of-use assets and to vessel held for sale ​ ​ 79,179 ​ ​ (5,896) ​ ​ 73,283 Disposals ​ (97,306) ​ 10,500 ​ (86,806) Depreciation ​ — ​ (131,214) ​ (131,214) As of December 31, 2022 ​ $ 3,903,896 ​ $ (1,182,402) ​ $ 2,721,494 ​
Schedule of aggregate future amortization of unfavorable charters	​ ​ ​ ​ ​ Amortization for the periods ending: ​ December 31, 2023 ​ ​ 20,806 Until April 2024 ​ 4,534 Total ​ 25,340 Less: Current portion ​ (20,806) Total non-current portion ​ $ 4,534
Schedule of leaseback instalments	​ ​ ​ ​ ​ Instalments due by period ended: ​ December 31, 2023 ​ $ 30,915 Until May 2024 ​ 46,249 Total leaseback instalments ​ 77,164 Less: Imputed interest ​ (4,239) Total leaseback obligation ​ 72,925 Less: Deferred finance costs, net ​ ​ (914) Less: Current portion of long-term leaseback obligation ​ ​ (27,469) Long-term leaseback obligation, net of current portion ​ $ 44,542

Deferred Charges, net (Tables)

Deferred Charges, net (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Charges, net
Schedule of deferred charges, net	Deferred charges, net consisted of the following (in thousands): ​ ​ ​ ​ ​ Drydocking and ​ ​ Special Survey ​ ​ Costs As of January 1, 2020 ​ $ 11,455 Additions ​ 16,916 Amortization ​ (11,032) As of December 31, 2020 ​ $ 17,339 Additions ​ ​ 4,643 Amortization ​ ​ (10,181) As of December 31, 2021 ​ $ 11,801 Additions ​ 29,939 Write-off ​ ​ (4,016) Amortization ​ (12,170) As of December 31, 2022 ​ $ 25,554 ​

Other Current and Non-current_2

Other Current and Non-current Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Other Current and Non-current Assets
Schedule of other current and non current assets	Other current and non-current assets consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Equity participation ZIM ​ ​ — ​ $ 423,024 Straight-lining of revenue ​ $ 22,007 ​ ​ 18,997 Claims receivable ​ ​ 15,169 ​ ​ 8,919 Vessel held for sale ​ ​ 3,297 ​ ​ — Other assets ​ ​ 7,332 ​ ​ 8,192 Total current assets ​ $ 47,805 ​ $ 459,132 ​ ​ ​ ​ ​ ​ ​ Straight-lining of revenue ​ $ 83,873 ​ $ 39,927 Other assets ​ 6,050 ​ 1,812 Total non-current assets ​ $ 89,923 ​ $ 41,739 ​
Summary of gains/losses on available-for-sale debt securities	​ ​ ​ ​ ​ ​ ​ Gain/(loss) ​ ​ on available for ​ sale securities Balance as of January 1, 2020 ​ $ (38,224) Unrealized gain on available for sale securities ​ ​ 26,633 Balance as of December 31, 2020 $ (11,591) Gain on available for sale securities ​ ​ 20,803 Reclassification to interest income ​ (9,212) Balance as of December 31, 2021 ​ ​ —

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Accrued payroll ​ $ 140 ​ $ 1,001 Accrued interest ​ 8,267 ​ 11,873 Accrued dry-docking expenses ​ ​ 2,332 ​ ​ 280 Accrued expenses ​ 10,623 ​ 7,692 Total ​ $ 21,362 ​ $ 20,846 ​

Lease Arrangements (Tables)

Lease Arrangements (Tables)	12 Months Ended
	Dec. 31, 2022
Lease Arrangements
Schedule of future minimum payments, expected to be received on non-cancellable time charters and bareboat charters	​ ​ ​ ​ ​ 2023 $ 785,714 2024 ​ 602,950 2025 ​ 332,957 2026 ​ 187,994 2027 ​ 145,562 Thereafter ​ 34,054 Total future rentals ​ $ 2,089,231

Long-Term Debt, net (Tables)

Long-Term Debt, net (Tables)	12 Months Ended
	Dec. 31, 2022
Long-Term Debt, net
Schedule of long-term debt, net	Long-term debt consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of ​ Balance as of Credit Facility December 31, 2022 December 31, 2021 BNP Paribas/Credit Agricole $130 mil. Facility ​ $ 120,000 ​ ​ — Alpha Bank $55.25 mil. Facility ​ ​ 55,250 ​ ​ — Citibank $382.5 mil. Revolving Credit Facility ​ ​ — ​ ​ — Senior unsecured notes ​ ​ 262,766 ​ $ 300,000 Citibank/Natwest $815 mil. Facility ​ ​ — ​ ​ 774,250 Macquarie Bank $58 mil. Facility ​ — ​ ​ 45,600 SinoPac $13.3 mil. Facility ​ — ​ ​ 10,800 Eurobank $30.0 mil. Facility ​ ​ — ​ ​ 21,375 Fair value of debt adjustment ​ ​ — ​ ​ (9,990) Total long-term debt ​ $ 438,016 ​ $ 1,142,035 Less: Deferred finance costs, net ​ ​ (8,076) ​ ​ (28,369) Less: Current portion ​ ​ (27,500) ​ ​ (95,750) Total long-term debt net of current portion and deferred finance costs ​ $ 402,440 ​ $ 1,017,916 ​
Schedule of debt maturities of long-term debt	The scheduled debt maturities of long-term debt subsequent to December 31, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ Principal Payments due by period ended repayments December 31, 2023 ​ $ 27,500 December 31, 2024 ​ ​ 21,300 December 31, 2025 ​ ​ 15,100 December 31, 2026 ​ ​ 15,100 December 31, 2027 ​ ​ 96,250 Thereafter ​ ​ 262,766 Total long-term debt ​ $ 438,016 ​

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Instruments
Schedule of estimated fair values of the financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ As of December 31, 2021 ​ Book Value Fair Value Book Value Fair Value ​ ​ (in thousands of $) Cash and cash equivalents ​ $ 267,668 ​ $ 267,668 ​ $ 129,410 ​ $ 129,410 Restricted cash (2) ​ ​ — ​ ​ — ​ $ 346 ​ $ 346 Equity participation ZIM ​ ​ — ​ ​ — ​ $ 423,024 ​ $ 423,024 Secured long-term debt, including current portion (1) ​ $ 175,250 ​ $ 175,250 ​ $ 842,035 ​ $ 842,035 Unsecured long-term debt (1) ​ $ 262,766 ​ $ 255,868 ​ $ 300,000 ​ $ 300,000 ​
Schedule of estimated fair value of the financial instruments, categorized based upon the fair value hierarchy	The estimated fair value of the financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ as of December 31, 2022 ​ Total (Level I) (Level II) (Level III) ​ ​ ​ (in thousands of $) Cash and cash equivalents ​ $ 267,668 ​ $ 267,668 ​ $ — ​ $ — Secured long-term debt, including current portion (1) ​ $ 175,250 ​ $ — ​ $ 175,250 ​ $ — Unsecured long-term debt (1) ​ $ 255,868 ​ $ 255,868 ​ $ — ​ $ — ​ The estimated fair value of the financial instruments that are measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ as of December 31, 2021 ​ Total (Level I) (Level II) (Level III) ​ ​ (in thousands of $) Equity participation ZIM ​ $ 423,024 ​ $ 423,024 ​ $ — ​ $ — ​ The estimated fair value of the financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of December 31, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ as of December 31, 2021 ​ Total (Level I) (Level II) (Level III) ​ ​ (in thousands of $) Cash and cash equivalents ​ $ 129,410 ​ $ 129,410 ​ $ — ​ $ — Restricted cash (2) ​ $ 346 ​ $ 346 ​ $ — ​ $ — Secured long-term debt, including current portion (1) ​ $ 842,035 ​ $ — ​ $ 842,035 ​ $ — Unsecured long-term debt (1) ​ $ 300,000 ​ $ — ​ $ 300,000 ​ $ — (1) Secured and unsecured long-term debt, including current portion is presented gross of deferred finance costs of $8.1 million and $28.4 million as of December 31, 2022 and December 31, 2021, respectively. The fair value of the Company’s secured debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities and does not include amounts related to the accumulated accrued interest. (2) The Company was required to maintain cash on a retention account as collateral for the then upcoming scheduled debt payments related to the now repaid the Eurobank $30 mil. Facility, which was recorded in restricted cash under current assets as of December 31, 2021.

Operating Revenue (Tables)

Operating Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Operating Revenue
Schedule of operating revenue from significant customers (constituting more than 10% of total revenue)	​ ​ ​ ​ ​ ​ ​ ​ ​ Charterer 2022 2021 2020 ​ CMA CGM 26 % 30 % 36 % HMM Korea ​ 12 % 17 % 24 % MSC 13 % — ​ — ​

Operating Revenue by Geograph_2

Operating Revenue by Geographic Location (Tables)	12 Months Ended
	Dec. 31, 2022
Operating Revenue by Geographic Location
Schedule of operating revenue by geographic location	Operating revenue by geographic location of the customers for the years ended December 31, was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Continent 2022 2021 2020 Australia—Asia ​ $ 482,769 ​ $ 323,172 ​ $ 203,991 Europe ​ 507,293 ​ 338,124 ​ 242,704 America ​ ​ 3,282 ​ ​ 28,209 ​ ​ 14,899 Total Revenue ​ $ 993,344 ​ $ 689,505 ​ $ 461,594

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings per Share
Schedule of computation of basic and diluted earnings/(loss) per share	The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 559,210 ​ $ 1,052,841 ​ $ 153,550 Denominator ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares outstanding ​ ​ 20,482 ​ ​ 20,345 ​ ​ 23,589 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Dilutive effect of non-vested shares ​ 19 ​ 239 ​ 216 Diluted weighted average common shares outstanding ​ ​ 20,501 ​ ​ 20,584 ​ ​ 23,805 ​

Basis of Presentation and Gen_3

Basis of Presentation and General Information (Details)	Dec. 31, 2022 item $ / shares shares	Dec. 31, 2021 $ / shares shares	Sep. 18, 2009 $ / shares shares
Property, Plant and Equipment
Common stock, authorized capital stock (in shares) | shares	750,000,000	750,000,000	750,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01	$ 0.01
Preferred stock, authorized capital stock (in shares) | shares	100,000,000	100,000,000	100,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01	$ 0.01
Hyundai Honour
Property, Plant and Equipment
TEU	13,100
Hyundai Respect.
Property, Plant and Equipment
TEU	13,100
Hyundai Smart.
Property, Plant and Equipment
TEU	13,100
Hyundai Speed.
Property, Plant and Equipment
TEU	13,100
Hyundai Ambition.
Property, Plant and Equipment
TEU	13,100
Express Berlin
Property, Plant and Equipment
TEU	10,100
Express Rome
Property, Plant and Equipment
TEU	10,100
Express Athens
Property, Plant and Equipment
TEU	10,100
CSCL Pusan
Property, Plant and Equipment
TEU	9,580
Le Havre
Property, Plant and Equipment
TEU	9,580
CPO Bremen
Property, Plant and Equipment
TEU	9,012
CPO Hamburg
Property, Plant and Equipment
TEU	9,012
Niledutch Lion
Property, Plant and Equipment
TEU	8,626
Charleston
Property, Plant and Equipment
TEU	8,533
Belita
Property, Plant and Equipment
TEU	8,533
CMA CGM Melisande
Property, Plant and Equipment
TEU	8,530
CMA CGM Attila
Property, Plant and Equipment
TEU	8,530
CMA CGM Tancredi
Property, Plant and Equipment
TEU	8,530
CMA CGM Bianca
Property, Plant and Equipment
TEU	8,530
CMA CGM Samson
Property, Plant and Equipment
TEU	8,530
Europe
Property, Plant and Equipment
TEU	8,468
CSCL America
Property, Plant and Equipment
TEU	8,468
Phoebe
Property, Plant and Equipment
TEU	8,463
CMA CGM Musset
Property, Plant and Equipment
TEU	6,500
CMA CGM Nerval
Property, Plant and Equipment
TEU	6,500
CMA CGM Rabelais
Property, Plant and Equipment
TEU	6,500
CMA CGM Racine
Property, Plant and Equipment
TEU	6,500
CMA CGM Moliere
Property, Plant and Equipment
TEU	6,500
YM Mandate
Property, Plant and Equipment
TEU	6,500
YM Maturity
Property, Plant and Equipment
TEU	6,500
Catherine C
Property, Plant and Equipment
TEU	6,422
Leo C
Property, Plant and Equipment
TEU	6,422
Performance.
Property, Plant and Equipment
TEU	6,402
Dimitra C
Property, Plant and Equipment
TEU	6,402
Suez Canal
Property, Plant and Equipment
TEU	5,610
Kota Lima (ex Genoa)
Property, Plant and Equipment
TEU	5,544
Wide Alpha
Property, Plant and Equipment
TEU	5,466
Wide Bravo
Property, Plant and Equipment
TEU	5,466
Maersk Euphrates
Property, Plant and Equipment
TEU	5,466
Wide Hotel
Property, Plant and Equipment
TEU	5,466
Wide India
Property, Plant and Equipment
TEU	5,466
Wide Juliet
Property, Plant and Equipment
TEU	5,466
Zim Monaco
Property, Plant and Equipment
TEU	4,253
Zim Dalian
Property, Plant and Equipment
TEU	4,253
Zim Luanda
Property, Plant and Equipment
TEU	4,253
Zim Rio Grande
Property, Plant and Equipment
TEU	4,253
Zim Sao Paolo
Property, Plant and Equipment
TEU	4,253
Zim Kingston.
Property, Plant and Equipment
TEU	4,253
YM Seattle
Property, Plant and Equipment
TEU	4,253
YM Vancouver
Property, Plant and Equipment
TEU	4,253
ANL Tongala
Property, Plant and Equipment
TEU	4,253
Derby D
Property, Plant and Equipment
TEU	4,253
Dimitris C
Property, Plant and Equipment
TEU	3,430
Express Spain
Property, Plant and Equipment
TEU	3,400
Express Black Sea
Property, Plant and Equipment
TEU	3,400
Express Argentina
Property, Plant and Equipment
TEU	3,400
Express Brazil
Property, Plant and Equipment
TEU	3,400
Express France
Property, Plant and Equipment
TEU	3,400
Singapore
Property, Plant and Equipment
TEU	3,314
SNL Colombo
Property, Plant and Equipment
TEU	3,314
Zebra (ex MSC Zebra)
Property, Plant and Equipment
TEU	2,602
Artotina (ex Danae C)
Property, Plant and Equipment
TEU	2,524
Amalia C
Property, Plant and Equipment
TEU	2,452
Highway
Property, Plant and Equipment
TEU	2,200
Hyundai Progress
Property, Plant and Equipment
TEU	2,200
Bridge
Property, Plant and Equipment
TEU	2,200
Vladivostok
Property, Plant and Equipment
TEU	2,200
Advance
Property, Plant and Equipment
TEU	2,200
Stride
Property, Plant and Equipment
TEU	2,200
Future
Property, Plant and Equipment
TEU	2,200
Sprinter
Property, Plant and Equipment
TEU	2,200
Hull No. C7100-7
Property, Plant and Equipment
TEU	7,100
Hull No. C7100-8
Property, Plant and Equipment
TEU	7,100
Hull No. HN4009
Property, Plant and Equipment
TEU	8,000
Hull No. HN4010
Property, Plant and Equipment
TEU	8,000
Hull No. HN4011
Property, Plant and Equipment
TEU	8,000
Hull No. HN4012
Property, Plant and Equipment
TEU	8,000

Significant Accounting Polici_4

Significant Accounting Policies - Reclassifications in Other Comprehensive Income Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassifications in Other Comprehensive Income/(Loss)
Loss on derivatives	$ (3,622)	$ (3,622)	$ (3,632)
Reclassification out of accumulated other comprehensive income
Reclassifications in Other Comprehensive Income/(Loss)
Loss on derivatives	11,430	(5,589)	3,632
Amortization of deferred realized losses on cash flow hedges | Reclassification out of accumulated other comprehensive income
Reclassifications in Other Comprehensive Income/(Loss)
Loss on derivatives	3,622	3,622	$ 3,632
Reclassification of prior service cost of defined benefit plan | Reclassification out of accumulated other comprehensive income
Reclassifications in Other Comprehensive Income/(Loss)
Loss on derivatives	$ 7,808
Reclassification to interest income | Reclassification out of accumulated other comprehensive income
Reclassifications in Other Comprehensive Income/(Loss)
Loss on derivatives		$ (9,211)

Significant Accounting Polici_5

Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Foreign Currency Translation:
Foreign currency exchange losses	$ 0.2	$ 0.2	$ 0.4

Significant Accounting Polici_6

Significant Accounting Policies - Cash (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents:
Cash and cash equivalents	$ 267,668	$ 129,410	$ 65,663
Restricted Cash:
Debt repayments related to Eurobank	$ 30,000

Significant Accounting Polici_7

Significant Accounting Policies - Fixed Assets (Details) - item		12 Months Ended
	Jul. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Secondhand Market
Property, Plant and Equipment
Number of vessels acquired		6	5
Gemini Shipholdings Corporation
Property, Plant and Equipment
Number of vessels acquired	5	5

Significant Accounting Polici_8

Significant Accounting Policies - Depreciation (Details) - Vessel	12 Months Ended
	Dec. 31, 2022 USD ($)
Depreciation
Estimated useful life from the year built	30 years
Estimated Scrap Rate Per Ton	$ 300

Significant Accounting Polici_9

Significant Accounting Policies - Accounting for Special Survey and Drydocking Costs (Details)	12 Months Ended
	Dec. 31, 2022
Vessel
Accounting for Special Survey and Drydocking Costs
Deferral and amortization period of survey and drydocking costs	2 years 6 months

Significant Accounting Polic_10

Significant Accounting Policies - Pension and Retirement Benefit Obligations-Crew (Details)	12 Months Ended
	Dec. 31, 2022
Vessel | Maximum
Pension and Retirement Benefit Obligations-Crew:
On board period of crew under the short-term contracts	7 months

Significant Accounting Polic_11

Significant Accounting Policies - Impairment of Long-lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Minimum
Impairment of Long-lived Assets:
Average historical period for estimating time charter equivalent rates	5 years
Maximum
Impairment of Long-lived Assets:
Average historical period for estimating time charter equivalent rates	15 years
Vessel
Impairment of Long-lived Assets:
Term of multi-year fixed rate period charters for vessels in current fleet and contracted vessels	1 year
Impairment loss	$ 0	$ 0
Vessel | Maximum
Impairment of Long-lived Assets:
Term of multi-year fixed rate period charters for vessels in current fleet and contracted vessels	18 years

Significant Accounting Polic_12

Significant Accounting Policies - Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting:
Number of operating segments	1
Number of reportable segments	1

Significant Accounting Polic_13

Significant Accounting Policies - Equity Compensation Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Aug. 02, 2019
Equity Compensation Plan:
Maximum number of shares that may be granted	1,000,000	1,000,000
Common Stock
Equity Compensation Plan:
Contractual obligation for any stock to be granted	$ 0

Significant Accounting Polic_14

Significant Accounting Policies - Troubled Debt Restructuring and Accumulated Accrued Interest (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Significant Accounting Policies
Future cash interest payments	$ 0

Acquisitions - Gemini Shipholdi

Acquisitions - Gemini Shipholdings Corporation (Details) $ in Thousands					12 Months Ended
	Nov. 26, 2021 USD ($)	Nov. 01, 2021 USD ($)	Jul. 01, 2021 USD ($) item	Apr. 12, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) item	Jun. 30, 2021
Asset Acquisition [Line Items]
Aggregate gross purchase price				$ 31,000
Assumed time charter liabilities					$ 74,100
Weighted average remaining charter duration					2 years
Amortization of assumed time charter					$ 36,500	$ 12,300
Unearned revenue					$ 111,149	$ 83,180
Gemini Shipholdings Corporation
Asset Acquisition [Line Items]
Investment, ownership percentage					100%
Unearned revenue					$ 400
Gemini Shipholdings Corporation
Asset Acquisition [Line Items]
Percentage of voting interest acquired			51%				49%
Aggregate gross purchase price			$ 86,700
Number of vessels acquired | item			5			5
Gain on asset acquisition			$ 64,100
Assumed time charter liabilities			$ 36,001
Weighted average remaining charter duration			1 year 4 months 24 days
Amortization of assumed time charter					$ 20,300	$ 15,300
Virage International Ltd.
Asset Acquisition [Line Items]
Percentage of voting interest acquired			51%
Aggregate gross purchase price		$ 86,700
Danaos Management Support Pte. Limited
Asset Acquisition [Line Items]
Percentage of voting interest acquired	100%
Aggregate gross purchase price	$ 2,100

Acquisitions - Vessel owning su

Acquisitions - Vessel owning subsidiaries of Gemini (Details) - item	Dec. 31, 2022	Jul. 01, 2021
Suez Canal
Asset Acquisition [Line Items]
TEU	5,610
Kota Lima (ex Genoa)
Asset Acquisition [Line Items]
TEU	5,544
Catherine C
Asset Acquisition [Line Items]
TEU	6,422
Leo C
Asset Acquisition [Line Items]
TEU	6,422
Belita
Asset Acquisition [Line Items]
TEU	8,533
Gemini Shipholdings Corporation | Suez Canal
Asset Acquisition [Line Items]
TEU		5,610
Gemini Shipholdings Corporation | Kota Lima (ex Genoa)
Asset Acquisition [Line Items]
TEU		5,544
Gemini Shipholdings Corporation | Catherine C
Asset Acquisition [Line Items]
TEU		6,422
Gemini Shipholdings Corporation | Leo C
Asset Acquisition [Line Items]
TEU		6,422
Gemini Shipholdings Corporation | Belita
Asset Acquisition [Line Items]
TEU		8,533

Acquisitions - Consideration ex

Acquisitions - Consideration exchanged and the fair value of assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	Nov. 26, 2021	Jul. 01, 2021	Apr. 12, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Purchase price:
Purchase price (51%)			$ 31,000
Fair value of assets and liabilities acquired:
Vessels				$ 2,721,494	$ 2,861,651		$ 2,479,937	$ 2,389,874
Right-of-use assets					79,442
Cash and cash equivalents				267,668	129,410		$ 65,663
Current assets				372,521	632,492
Assumed time charter liabilities				(74,100)
Current liabilities				$ (228,407)	$ (319,307)
Gemini Shipholdings Corporation
Asset Acquisition [Line Items]
Percentage of voting interest acquired		51%				49%
Purchase price:
Purchase price (51%)		$ 86,700
Fair value of previously held interest (49%)		83,300
Total purchase price		170,000
Fair value of assets and liabilities acquired:
Vessels		154,500
Right-of-use assets		82,500
Cash and cash equivalents		14,388
Current assets		2,534
Assumed time charter liabilities		(36,001)
Long-term debt		(23,125)
Obligations under finance lease		(21,880)
Current liabilities		(2,916)
Assets, Net, Total		$ 170,000
Danaos Management Support Pte. Limited
Asset Acquisition [Line Items]
Percentage of voting interest acquired	100%
Purchase price:
Purchase price (51%)	$ 2,100
Total purchase price	2,136
Fair value of assets and liabilities acquired:
Cash and cash equivalents	1,834
Current assets	829
Current liabilities	(527)
Assets, Net, Total	$ 2,136

Acquisitions - Business acquisi

Acquisitions - Business acquisition, pro forma information (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Acquisition [Line Items]
Net operating revenues		$ 993,344	$ 689,505	$ 461,594
Net income		$ 559,210	$ 1,052,841	153,550
Gemini Shipholdings Corporation
Asset Acquisition [Line Items]
Net operating revenues	$ 17,984			31,844
Net income	$ 8,091			$ 12,873

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents	$ 267,668	$ 129,410	$ 65,663
Restricted cash		346
Total	267,668	$ 129,756	$ 65,663	$ 139,170
Debt repayments related to Eurobank	$ 30,000

Fixed Assets, net & Advances _3

Fixed Assets, net & Advances for Vessels under Construction - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Vessel Costs
Balance at the beginning of the period	$ 3,917,443	$ 3,421,897	$ 3,230,303
Additions	4,580	495,546	191,594
Transfers from right-of-use assets and to vessel held for sale	79,179
Disposals	(97,306)
Depreciation	131,214	113,832	101,531
Balance at the end of the period	3,903,896	3,917,443	3,421,897
Accumulated Depreciation
Balance at the beginning of the period	(1,055,792)	(941,960)	(840,429)
Transfers from right-of-use assets and to vessel held for sale	(5,896)
Disposals	10,500
Depreciation	(131,214)	(113,832)	(101,531)
Balance at the end of the period	(1,182,402)	(1,055,792)	(941,960)
Net Book Value
Balance at the beginning of the period	2,861,651	2,479,937	2,389,874
Additions	4,580	495,546	191,594
Transfers from right-of-use assets and to vessel held for sale	73,283
Disposals	(86,806)
Depreciation	131,214
Balance at the end of the period	$ 2,721,494	$ 2,861,651	$ 2,479,937

Fixed Assets, net & Right-of-us

Fixed Assets, net & Right-of-use Assets - Amortization of assumed time charters (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Amortization for the periods ending:
Assumed time charter liabilities	$ 74,100
Unearned revenue
Amortization for the periods ending:
Less: Current portion	(20,800)
Unearned revenue, net of current portion
Amortization for the periods ending:
Total non-current portion	4,500
TEU sister vessels
Amortization for the periods ending:
December 31, 2023	20,806
Until April 2024	4,534
Total	25,340
Less: Current portion	(20,806)
Total non-current portion	$ 4,534

Fixed Assets, net & Right-of-_2

Fixed Assets, net & Right-of-use Assets (Details)

1 Months Ended

12 Months Ended

Apr. 01, 2022 USD ($) item

Mar. 11, 2022 USD ($) item

Sep. 30, 2021 USD ($)

Jul. 07, 2021 item

Apr. 12, 2021 USD ($)

May 12, 2020 USD ($)

Nov. 30, 2022 USD ($)

Dec. 31, 2022 USD ($) item $ / T

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

May 31, 2022 USD ($)

Jan. 17, 2022 USD ($)

Fixed Assets, net & Advances for Vessels under Construction

Aggregate gross purchase price

$ 31,000,000

Interest capitalized

$ 5,000,000

$ 0

$ 0

Gain on sale of vessels

37,225,000

Amortization of assumed time charter

36,500,000

12,300,000

Sale and leaseback arrangement term (in years)

5 years

Instalments due by 12-months period ended:

December 31, 2023

30,915,000

Until May 2024

46,249,000

Total leasing instalments

77,164,000

Less: Imputed interest

(4,239,000)

Total leasing obligation

72,925,000

Less: Deferred finance costs, net

(914,000)

Less: Current portion of long-term leaseback obligation

(27,469,000)

(85,815,000)

Long-term leaseback obligation, net of current portion

44,542,000

136,513,000

Property, Plant and Equipment, Additions

4,580,000

495,546,000

$ 191,594,000

Assumed time charter liabilities

$ 74,100,000

Weighted average remaining period

2 years

Carrying value of vessels subject to leasing obligation

$ 248,200,000

Gross proceeds of sale and leaseback

$ 135,000,000

TEU sister vessels

Fixed Assets, net & Advances for Vessels under Construction

Number of TEU container vessels | item

6

Aggregate gross purchase price

$ 260,000,000

TEU container vessels

Fixed Assets, net & Advances for Vessels under Construction

Number of TEU container vessels | item

4

2

TEU | item

8,000

7,100

Aggregate purchase price

$ 372,700,000

$ 156,000,000

Aggregate gross purchase price

145,900,000

39,000,000

Amount expected to be paid in 2023

31,200,000

Amount expected to be paid at vessels delivery in 2024

$ 226,800,000

85,800,000

Supervision fee per vessel

$ 725,000

Interest capitalized

5,000,000

0

Citibank/Natwest $815 mil. Facility

Fixed Assets, net & Advances for Vessels under Construction

Credit facility

$ 815,000,000

$ 815,000,000

CPO Bremen

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

9,012

CPO Hamburg

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

9,012

Vessel

Fixed Assets, net & Advances for Vessels under Construction

Residual value of the fleet

$ 487,300,000

$ 504,100,000

Average life of scrap considered to calculate residual value of vessel, one

10 years

Average life of scrap considered to calculate residual value of vessel, two

5 years

Scrap value per ton (in dollars per ton) | $ / T

300

Hyundai Respect.

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

13,100

Hyundai Honour And Hyundai Respect

Fixed Assets, net & Advances for Vessels under Construction

Sale and leaseback arrangement term (in years)

4 years

Repurchase price

$ 36,000,000

Instalments due by 12-months period ended:

Vessels to be refinanced

139,100,000

Wide Alpha

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide Alpha | TEU sister vessels

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide Bravo

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide Bravo | TEU sister vessels

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Maersk Euphrates

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Maersk Euphrates | TEU sister vessels

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide Hotel

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide Hotel | TEU sister vessels

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide India

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide India | TEU sister vessels

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide Juliet

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Wide Juliet | TEU sister vessels

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

5,466

Catherine C and Leo C

Fixed Assets, net & Advances for Vessels under Construction

Aggregate gross consideration

$ 130,000,000

Gain on sale of vessels

$ 37,200,000

Amalia C

Fixed Assets, net & Advances for Vessels under Construction

TEU | item

2,452

Aggregate gross consideration

$ 5,100,000

Advances for sale of vessels

$ 1,000,000

Deferred Charges, net (Details)

Deferred Charges, net (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 22, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Changes in deferred charges, net
Balance at the beginning of the period		$ 11,801
Amortization		(12,170)	$ (10,181)	$ (11,032)
Balance at the end of the period		25,554	11,801
Drydocking and Special Survey Costs
Changes in deferred charges, net
Balance at the beginning of the period		11,801	17,339	11,455
Additions		29,939	4,643	16,916
Wrote-off amounts	$ 4,000
Amortization		(12,170)	(10,181)	(11,032)
Write-off		(4,016)
Balance at the end of the period		$ 25,554	$ 11,801	$ 17,339
Period of amortization for deferred costs		2 years 6 months

Other Current and Non-current_3

Other Current and Non-current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Current and Non-current Assets
Equity participation ZIM		$ 423,024
Straight-lining of revenue	$ 22,007	18,997
Claims receivable	15,169	8,919
Vessels held for sale	3,297
Other assets	7,332	8,192
Total current assets	47,805	459,132
Straight-lining of revenue non-current	83,873	39,927
Other non-current assets	6,050	1,812
Total non-current assets	$ 89,923	$ 41,739

Other Current and Non-current_4

Other Current and Non-current Assets - ZIM (Details) $ in Thousands	1 Months Ended				12 Months Ended
	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Jul. 31, 2014 USD ($) item	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2016 USD ($)	Jan. 27, 2021 shares
Schedule Of Other Assets [Line Items]
Total gain on ZIM ordinary shares					$ (176,386)	$ 543,653
Non-current portion of unearned revenue					111,564	37,977
Current portion of unearned revenue					$ 111,149	$ 83,180
ZIM
Schedule Of Other Assets [Line Items]
Ordinary shares owned | shares					7,186,950	7,186,950			10,186,950
Fair value of shareholding interest						$ 423,000
Ordinary shares sold | shares						3,000,000
Net proceeds from sale of ordinary shares					$ 246,600	$ 120,700
Equity participation ZIM								$ 0
Total gain on ZIM ordinary shares					(176,400)	543,700
Dividend received					165,400	$ 34,300
Acquisition of additional shares			$ 75
Impairment loss at reporting date								$ 28,700
Equity participation (as a percent)			10.20%			6.10%
Income tax withheld on dividend income amount					$ 18,300	$ 5,900
ZIM
Schedule Of Other Assets [Line Items]
Non-current portion of unearned revenue						0
Interest income from fair value unwinding						6,600	$ 4,300
Deferred revenue recorded				$ 39,100
Number of vessels of which the charter rates payable was reduced | item				6
Series 1 Notes | ZIM
Schedule Of Other Assets [Line Items]
Proceeds received from mandatory repayment of notes		$ 2,400
Series 1 and Series 2 Notes | ZIM
Schedule Of Other Assets [Line Items]
Proceeds received from mandatory repayment of notes	$ 47,200
Accrued interest received	$ 6,400
Operating revenue | ZIM
Schedule Of Other Assets [Line Items]
Recognized unearned revenue						$ 1,100	$ 5,400

Other Current and Non-current_5

Other Current and Non-current Assets - HMM (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended		12 Months Ended
	May 31, 2021	Jul. 31, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jul. 18, 2016
Schedule Of Other Assets [Line Items]
Current portion of unearned revenue			$ 111,149	$ 83,180
Non-current portion of unearned revenue			111,564	37,977
HMM
Schedule Of Other Assets [Line Items]
Shares received from charter restructuring		4.6
Accrued interest received	$ 3,000			1,100
Interest income from fair value unwinding				5,000	$ 2,100
Unearned revenue						$ 75,600
Current portion of unearned revenue			8,200	8,200
Non-current portion of unearned revenue			2,500	10,700
Loan Notes 1 HMM | HMM
Schedule Of Other Assets [Line Items]
Principal amount of unsecured notes received		$ 32,800
Proceeds received from mandatory repayment of notes	$ 19,900
Loan Notes 2 HMM | HMM
Schedule Of Other Assets [Line Items]
Principal amount of unsecured notes received		$ 6,200
Proceeds received from mandatory repayment of notes				6,100
Operating revenue | HMM
Schedule Of Other Assets [Line Items]
Recognized unearned revenue			$ 8,200	$ 8,200	$ 8,200

Other Current and Non-current_6

Other Current and Non-current Assets - Available for sale category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unrealized loss on available for sale securities
Beginning balance	$ (11,591)	$ (38,224)
Unrealized gain on available for sale securities		26,633
Gain on available for sale securities	20,803
Reclassification to interest income	(9,212)
Ending balance	$ 0	$ (11,591)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities
Accrued payroll	$ 140	$ 1,001
Accrued interest	8,267	11,873
Accrued dry-docking expenses	2,332	280
Accrued expenses	10,623	7,692
Total	$ 21,362	$ 20,846

Lease Arrangements (Details)

Lease Arrangements (Details) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2022 USD ($) item	Dec. 31, 2022 USD ($) item
Lease Arrangements
Number of vessels , generated revenue results | item		69
Amount of charter hire prepayment received	$ 238,900
Number of charter vessels | item	15
Future minimum payments, expected to be received
2023		$ 785,714
2024		602,950
2025		332,957
2026		187,994
2027		145,562
Thereafter		34,054
Total future rentals		$ 2,089,231

Long-Term Debt, net - Schedule

Long-Term Debt, net - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	May 31, 2022	Dec. 31, 2021	Apr. 12, 2021	Dec. 31, 2020
Long-Term Debt, net
Fair value of debt adjustment			$ (9,990)
Total long-term debt	$ 438,016		1,142,035
Less: Deferred finance costs, net	(8,076)		(28,369)
Less: Current portion	(27,500)		(95,750)
Total long-term debt net of current portion and deferred finance cost	$ 402,440		$ 1,017,916
Weighted average interest rate on long-term borrowings (as a percent)	5.30%		4.40%		4.60%
BNP Paribas/Credit Agricole $130 mil. Facility
Long-Term Debt, net
Long-term debt	$ 120,000
Credit facility	130,000
Alpha Bank $55.25 mil. Facility
Long-Term Debt, net
Long-term debt	55,250
Credit facility	55,250
Citibank $382.5 mil. Revolving Credit Facility
Long-Term Debt, net
Credit facility	382,500
Senior unsecured notes
Long-Term Debt, net
Long-term debt	262,766		$ 300,000
Citibank/Natwest $815 mil. Facility
Long-Term Debt, net
Long-term debt			774,250
Credit facility	815,000			$ 815,000
Macquarie Bank $58 mil. Facility
Long-Term Debt, net
Long-term debt			45,600
Credit facility	58,000
SinoPac $13.3 mil. Facility
Long-Term Debt, net
Long-term debt			10,800
Credit facility	13,300
Eurobank $30.0 mil. Facility
Long-Term Debt, net
Long-term debt			$ 21,375
Credit facility	30,000
Citibank $382.5 mil. Revolving Credit Facility
Long-Term Debt, net
Credit facility	382,500
Citibank/Natwest $815 mil. Facility
Long-Term Debt, net
Credit facility	$ 815,000	$ 815,000

Long-Term Debt, net - Additiona

Long-Term Debt, net - Additional Information (Details) $ in Thousands				1 Months Ended			3 Months Ended	12 Months Ended
	Jul. 12, 2021 USD ($)	Apr. 12, 2021 USD ($) installment	Feb. 11, 2021 USD ($)	Dec. 31, 2022 USD ($) installment	Jun. 30, 2022 USD ($) item installment	May 31, 2022 USD ($)	Jun. 30, 2022 USD ($) item	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jul. 01, 2021 USD ($)
Line of Credit Facility [Line Items]
Carrying value of vessels subject to first preferred mortgages as collateral to credit facilities				$ 1,592,400				$ 1,592,400
Deferred bond issuance costs				$ 8,100				$ 8,100	$ 28,400
Number of vessels excluding sale and lease back arrangement | item								24
Early repaid amount								$ 892,928	1,343,725	$ 146,747
Gain on debt extinguishment, net		$ 111,600						4,351	111,616
Incurred interest expense								55,700		36,700
Interest expense capitalized								5,000	0	0
Interest expense incurred									53,100
Interest paid								$ 54,000	$ 42,800	$ 35,200
Weighted average interest rate on long-term borrowings (as a percent)				5.30%				5.30%	4.40%	4.60%
Gemini Shipholdings Corporation
Line of Credit Facility [Line Items]
Balloon payment at maturity											$ 13,500
Acquired outstanding principal balance											$ 23,100
TEU sister vessels
Line of Credit Facility [Line Items]
TEU | item					5,466		5,466
Citibank $382.5 mil. Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility				$ 382,500				$ 382,500
Citibank/Natwest $815 mil. Facility
Line of Credit Facility [Line Items]
Credit facility				815,000		$ 815,000		815,000
BNP Paribas/Credit Agricole $130 mil. Facility
Line of Credit Facility [Line Items]
Credit facility				130,000				130,000
Term of debt					5 years
Balloon payment at maturity					$ 67,200		$ 67,200
Long-term debt				$ 120,000				$ 120,000
Minimum percentage of fair market value of collateral vessels required to cover loan value				125%				125%
Early repaid amount					$ 130,000
BNP Paribas/Credit Agricole $130 mil. Facility | Eight Quarterly Installment
Line of Credit Facility [Line Items]
Number of quarterly instalments | installment					8
Amount of quarterly instalment					$ 5,000
BNP Paribas/Credit Agricole $130 mil. Facility | Twelve Quarterly Installments
Line of Credit Facility [Line Items]
Number of quarterly instalments | installment					12
Amount of quarterly instalment					$ 1,900
BNP Paribas/Credit Agricole $130 mil. Facility | Non-cumulative compounded RFR rate
Line of Credit Facility [Line Items]
Spread on variable rate					2.16%
Alpha Bank $55.25 mil. Facility
Line of Credit Facility [Line Items]
Credit facility				$ 55,250				$ 55,250
Term of debt				5 years
Number of quarterly instalments | installment				20
Amount of quarterly instalment				$ 1,875
Balloon payment at maturity				17,750				17,750
Long-term debt				$ 55,250				55,250
Alpha Bank $55.25 mil. Facility | SOFR
Line of Credit Facility [Line Items]
Spread on variable rate				2.30%
Citibank $382.5 mil. Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility				$ 382,500				382,500
Term of debt				5 years
Number of quarterly instalments | installment				20
Amount of quarterly instalment				$ 11,250
Balloon payment at maturity				157,500				157,500
Outstanding balance				$ 0				0
Commitment fee payable (as a percent)				0.80%
Remaining borrowing availability				$ 382,500				382,500
Citibank $382.5 mil. Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Spread on variable rate				2%
Senior unsecured notes
Line of Credit Facility [Line Items]
Face amount of debt			$ 300,000
Fixed interest rate (as a percent)			8.50%
Percentage of principal amount redeemable from equity offering within 90 days of closing			35%
Redemption period of principal from closing of equity offering			90 days
Amount repurchased				$ 37,200				37,200
Deferred bond issuance costs			$ 9,000
Long-term debt				262,766				262,766	$ 300,000
Senior unsecured notes | Prior to March 1, 2024
Line of Credit Facility [Line Items]
Percent of equity offering proceeds within 90 days after the equity offering closing			108.50%
Senior unsecured notes | On or after March 1, 2024
Line of Credit Facility [Line Items]
Percent of principal amount being redeemed			104.25%
Senior unsecured notes | On or after March 1, 2025
Line of Credit Facility [Line Items]
Percent of principal amount being redeemed			102.125%
Senior unsecured notes | On or after March 1, 2026
Line of Credit Facility [Line Items]
Percent of principal amount being redeemed			100%
Senior unsecured notes | Maximum
Line of Credit Facility [Line Items]
Face amount of debt		300,000
Citibank/Natwest $815 mil. Facility
Line of Credit Facility [Line Items]
Credit facility		$ 815,000		815,000				815,000
Term of debt		4 years
Number of quarterly instalments | installment		16
Amount of quarterly instalment		$ 20,400				12,900
Balloon payment at maturity	$ 489,000					309,000
Outstanding balance				437,750				437,750
Long-term debt									774,250
Early repaid amount						270,000
Gain on debt extinguishment, net						26,900
Citibank/Natwest $815 mil. Facility | LIBOR
Line of Credit Facility [Line Items]
Spread on variable rate	2.50%
Macquarie Bank $58 mil. Facility
Line of Credit Facility [Line Items]
Credit facility				58,000				58,000
Long-term debt									45,600
Early repaid amount							$ 43,000
SinoPac $13.3 mil. Facility
Line of Credit Facility [Line Items]
Credit facility				13,300				13,300
Long-term debt									10,800
Early repaid amount						9,800
Eurobank $30.0 mil. Facility
Line of Credit Facility [Line Items]
Credit facility				$ 30,000				$ 30,000
Long-term debt									$ 21,375
Early repaid amount						$ 20,600
Alpha Bank $55.25 mil. Facility and Citibank $382.5 mil. Revolving Credit Facility
Line of Credit Facility [Line Items]
Minimum percentage of fair market value of collateral vessels required to cover loan value				120%				120%
Alpha Bank $55.25 mil. Facility, Citibank $382.5 mil. Revolving Credit Facility and BNP Paribas/Credit Agricole $130 mil. Facility
Line of Credit Facility [Line Items]
Minimum liquidity				$ 30,000				$ 30,000
Maximum leverage ratio				6.5				6.5
Minimum interest coverage ratio				2.5				2.5

Long-Term Debt, net - 2021 Refi

Long-Term Debt, net - 2021 Refinancing (Details) $ in Thousands			1 Months Ended	12 Months Ended
	Jul. 12, 2021 USD ($)	Apr. 12, 2021 USD ($) installment	May 31, 2022 USD ($)	Dec. 31, 2022 USD ($) installment	Dec. 31, 2021 USD ($)	Feb. 11, 2021 USD ($)
Line of Credit Facility [Line Items]
Proceeds from sale and leaseback agreement		$ 135,000
Gain on debt extinguishment, net		111,600		$ 4,351	$ 111,616
Citibank/Natwest | Other current liabilities
Line of Credit Facility [Line Items]
Accrued additional fees				6,000
Citibank/Natwest | Other long-term liabilities
Line of Credit Facility [Line Items]
Accrued additional fees				3,000
2018 Credit Facilities
Line of Credit Facility [Line Items]
Legal and other fees					2,300
Loan arrangement fees deferred					$ 15,600
RBS
Line of Credit Facility [Line Items]
Deferred gain on debt extinguishment				33,300
Citibank/Natwest $815 mil. Facility
Line of Credit Facility [Line Items]
Credit facility		$ 815,000		815,000
Line of credit term		4 years
Number of quarterly instalments | installment		16
Amount of quarterly instalment		$ 20,400	$ 12,900
Balloon payment at maturity	$ 489,000		309,000
Additional fees amount				$ 12,000
Additional fees number of quarterly payments | installment				8
Outstanding balance				$ 437,750
Gain on debt extinguishment, net			$ 26,900
Citibank/Natwest $815 mil. Facility | LIBOR
Line of Credit Facility [Line Items]
Spread on variable rate	2.50%
Senior unsecured notes
Line of Credit Facility [Line Items]
Net proceeds		294,400
Face amount of debt						$ 300,000
HSH Nordbank AG-Aegean Baltic Bank-Piraeus Bank
Line of Credit Facility [Line Items]
Credit facility		382,500
HSH Nordbank AG-Aegean Baltic Bank-Piraeus Bank | HSH Nordbank AG-Aegean Baltic Bank-Piraeus Bank
Line of Credit Facility [Line Items]
Accumulated accrued interest		75,300
RBS
Line of Credit Facility [Line Items]
Accumulated accrued interest		$ 475,500
Gain on debt extinguishment, net				$ 35,600

Long-Term Debt, net - Principal

Long-Term Debt, net - Principal Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Scheduled maturities of long-term debt
December 31, 2023	$ 27,500
December 31, 2024	21,300
December 31, 2025	15,100
December 31, 2026	15,100
December 31, 2027	96,250
Thereafter	262,766
Total long-term debt	$ 438,016

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands, € in Millions				12 Months Ended
	Jul. 01, 2021 USD ($)	Apr. 12, 2021 USD ($)	Aug. 10, 2018 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Jun. 30, 2021
Related Party Transactions
Daily management fees			$ 850
Advances on account of the vessels' operating expenses				$ 34,002		$ 21,875
Aggregate gross purchase price		$ 31,000
Prior service cost arising from the retrospective recognition of past service recognized in the Other Comprehensive Income				14,184
Prior service cost exercised				7,808
Recognized non-cash share-based compensation expense				5,972		15,278		$ 1,199
Gemini Shipholdings Corporation
Related Party Transactions
Percentage of voting interest acquired	51%									49%
Aggregate gross purchase price	$ 86,700
Executive officers
Related Party Transactions
Recognized non-cash share-based compensation expense				$ 5,400		11,800		1,000
Manager
Related Party Transactions
Daily vessel management fees for vessels on bareboat charter			425
Daily vessel management fees for vessels on time charter			$ 850
Management fee on gross freight, charter hire, ballast bonus and demurrage (as a percent)			1.25%
Management fee based on the contract price of any vessel bought or sold (as a percent)			0.50%	0.50%	0.50%
Supervision fee per vessel under construction			$ 725
Management fees incurred shown under General and administrative expenses				$ 21,900		19,900		17,700
Management commissions incurred shown under Voyage expenses				14,600		10,400		5,700
Amount capitalized				700		1,300		700
Advances on account of the vessels' operating expenses				34,000		21,900
Executive officers compensation				2,100	€ 2	2,100	€ 1.8	1,800	€ 1.5
The Swedish Club
Related Party Transactions
Premiums paid				6,600		5,200		$ 4,300
Due to related parties				1,000		0
Other current liabilities
Related Party Transactions
Unpaid costs under defined benefit plan				$ 6,800
Accounts payable
Related Party Transactions
Due to executive officers shown under accounts payable						$ 100

Taxes (Details)

Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Taxes
Income tax withheld on divided income earned on investment	$ 18.3	$ 5.9

Financial Instruments - Interes

Financial Instruments - Interest Rate Swap Hedges (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) agreement	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Financial Instruments
Number of agreements held | agreement	0
Interest rate swap contracts
Financial Instruments
Unrealized losses reclassified from accumulated other comprehensive loss to earnings	$ 3.6	$ 3.6	$ 3.6
Unrealized losses expected to be reclassified from accumulated other comprehensive loss to earnings within the next twelve months	$ 3.6

Financial Instruments - Estimat

Financial Instruments - Estimated Fair Values Of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value
Financial Instruments
Cash and cash equivalents	$ 267,668	$ 129,410
Restricted cash		346
Equity participation ZIM		423,024
Book Value
Financial Instruments
Cash and cash equivalents	267,668	129,410
Restricted cash		346
Equity participation ZIM		423,024
Secured long-term debt, including current portion | Fair Value
Financial Instruments
Long-term debt	175,250	842,035
Secured long-term debt, including current portion | Book Value
Financial Instruments
Long-term debt	175,250	842,035
Unsecured long-term debt | Fair Value
Financial Instruments
Long-term debt	255,868	300,000
Unsecured long-term debt | Book Value
Financial Instruments
Long-term debt	$ 262,766	$ 300,000

Financial Instruments - Financi

Financial Instruments - Financial Instruments Measured and Not Measured At Fair Value On Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial Instruments
Deferred finance costs, net	$ 8,100	$ 28,400
Total
Financial Instruments
Cash and cash equivalents	267,668	129,410
Restricted cash		346
Equity participation ZIM		423,024
Total | Secured long-term debt, including current portion
Financial Instruments
Long-term debt	175,250	842,035
Total | Unsecured long-term debt
Financial Instruments
Long-term debt	255,868	300,000
Eurobank $30.0 mil. Facility | Eurobank $30.0 mil. Facility
Financial Instruments
Credit facility		30,000
Non-recurring basis | (Level I)
Financial Instruments
Cash and cash equivalents	267,668	129,410
Restricted cash		346
Non-recurring basis | (Level I) | Unsecured long-term debt
Financial Instruments
Long-term debt	255,868
Non-recurring basis | (Level II) | Secured long-term debt, including current portion
Financial Instruments
Long-term debt	175,250	842,035
Non-recurring basis | (Level II) | Unsecured long-term debt
Financial Instruments
Long-term debt		300,000
Non-recurring basis | Total
Financial Instruments
Cash and cash equivalents	267,668	129,410
Restricted cash		346
Non-recurring basis | Total | Secured long-term debt, including current portion
Financial Instruments
Long-term debt	175,250	842,035
Non-recurring basis | Total | Unsecured long-term debt
Financial Instruments
Long-term debt	$ 255,868	300,000
ZIM | Recurring basis | (Level I)
Financial Instruments
Equity participation ZIM		423,024
ZIM | Recurring basis | Total
Financial Instruments
Equity participation ZIM		$ 423,024

Operating Revenue (Details)

Operating Revenue (Details) - Operating revenue - Significant customers	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CMA CGM
Operating Revenue
Percentage of operating revenue	26%	30%	36%
HMM Korea
Operating Revenue
Percentage of operating revenue	12%	17%	24%
MSC
Operating Revenue
Percentage of operating revenue	13%

Operating Revenue by Geograph_3

Operating Revenue by Geographic Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Revenue by Geographic Location
Revenues	$ 993,344	$ 689,505	$ 461,594
Australia-Asia
Operating Revenue by Geographic Location
Revenues	482,769	323,172	203,991
Europe
Operating Revenue by Geographic Location
Revenues	507,293	338,124	242,704
America
Operating Revenue by Geographic Location
Revenues	$ 3,282	$ 28,209	$ 14,899

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions			12 Months Ended
	Jan. 20, 2021 USD ($)	Sep. 01, 2016 item	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Commitments and Contingencies
Partial payment received from Hanjin Shipping as common benefit claim and interest | $	$ 3.9
Unsecured claim submitted to Seoul Central District Court against Hanjin Shipping | Pending litigation | Hanjin Shipping
Commitments and Contingencies
Number of charters | item		8
Number of charters cancelled | item		8
Collectability of receivables | Unsecured claim submitted to Seoul Central District Court against Hanjin Shipping | Pending litigation
Commitments and Contingencies
Total unsecured claim | $			$ 597.9	$ 597.9

Stock Based Compensation (Detai

Stock Based Compensation (Details) $ / shares in Units, $ in Thousands							12 Months Ended
	Dec. 14, 2022 shares	Dec. 10, 2021 shares	Mar. 16, 2021 shares	Feb. 12, 2021 shares	May 10, 2019 shares	Sep. 14, 2018 shares	Dec. 31, 2022 USD ($) director $ / shares shares	Dec. 31, 2021 USD ($) director $ / shares shares	Dec. 31, 2020 USD ($) director shares	Dec. 31, 2019 shares	Aug. 02, 2019 shares
Stock Based Compensation
Average price of shares issued | $ / shares							$ 69.59	$ 72.19
Maximum number of shares that may be granted							1,000,000				1,000,000
Number of directors who elected to receive their compensation in shares | director							0	0	0
Restricted shares
Stock Based Compensation
Shares granted	100,000
Average price of shares issued | $ / shares							$ 54.40	$ 66
Shares issued and outstanding							0	19,300
Common stock
Stock Based Compensation
Contractual obligation for any stock to be granted | $							$ 0
General and administrative expense
Stock Based Compensation
Expenses representing fair value of the stock granted recognized in General and Administrative Expenses | $							$ 6,000	$ 15,300	$ 1,200
Manager's employees
Stock Based Compensation
Shares granted		10,000
Number of cancelled shares							224
Manager's employees | Vesting on december 31, 2021
Stock Based Compensation
Shares granted			40,000
Shares vested			10,000
Number of cancelled shares			1,050
Manager's employees | Restricted shares
Stock Based Compensation
Shares granted					137,944
Shares vested							19,076
Number of cancelled shares								1,685	714	4,168
Manager's employees | Restricted shares | Vesting on december 31, 2019
Stock Based Compensation
Shares vested					66,888	149,386
Manager's employees | Restricted shares | Vesting on december 31, 2021
Stock Based Compensation
Shares vested			9,650			149,388		64,489
Executive officers
Stock Based Compensation
Shares granted				110,000
Executive officers | Restricted shares
Stock Based Compensation
Shares granted		110,000			35,714	298,774

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands							1 Months Ended							12 Months Ended
	Dec. 14, 2022	Dec. 10, 2021	Mar. 16, 2021	Feb. 12, 2021	May 10, 2019	Sep. 14, 2018	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Oct. 31, 2020	Sep. 18, 2009
Stockholders' Equity
Dividend declared (in US$ per share)							$ 0.75	$ 0.75	$ 0.75	$ 0.75	$ 0.50	$ 0.50	$ 0.50	$ 3	$ 1.50
Dividends, common stock in cash														$ 61,500	$ 30,900
Stock issued during period, shares, dividend reinvestment plan														143	146
Authorized capital stock, par value of common stock (in dollars per share)														$ 0.01	$ 0.01				$ 0.01
Average price of shares issued														$ 69.59	$ 72.19
Shares repurchase program authorized amount																	$ 100,000	$ 31,100
Shares repurchased														466,955
Value of shares repurchased														$ 28,553		$ 31,127
Number of shares authorized to be repurchased																		4,339,271
Shares issued														25,155,928	25,056,009
Shares outstanding														20,349,702	20,716,738
Treasury shares														4,806,226	4,339,271
Common stock, authorized capital stock (in shares)														750,000,000	750,000,000				750,000,000
Authorized capital stock, preferred stock (in shares)														100,000,000	100,000,000				100,000,000
Authorized capital stock, par value of preferred stock (in dollars per share)														$ 0.01	$ 0.01				$ 0.01
Restricted shares
Stockholders' Equity
Average price of shares issued														$ 54.40	$ 66
Shares granted	100,000
Shares issued and outstanding														0	19,300
Executive officers
Stockholders' Equity
Shares granted				110,000
Executive officers | Restricted shares
Stockholders' Equity
Shares granted		110,000			35,714	298,774
Manager's employees
Stockholders' Equity
Shares granted		10,000
Manager's employees | Restricted shares
Stockholders' Equity
Shares granted					137,944
Shares vested														19,076
Vesting on december 31, 2019 | Manager's employees | Restricted shares
Stockholders' Equity
Shares vested					66,888	149,386
Vesting on december 31, 2021 | Manager's employees
Stockholders' Equity
Shares granted			40,000
Shares vested			10,000
Vesting on december 31, 2021 | Manager's employees | Restricted shares
Stockholders' Equity
Shares vested			9,650			149,388									64,489
RBS
Stockholders' Equity
Number of shares authorized to be repurchased																		2,517,013
Sphinx Investment Corp
Stockholders' Equity
Number of shares authorized to be repurchased																		1,822,258

Executive Retirement Plan - (De

Executive Retirement Plan - (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 14, 2022	Dec. 31, 2022	Dec. 31, 2023
Executive Retirement Plan
Defined Benefit Plan, Plan Name [Extensible Enumeration]		dac:ExecutiveRetirementPlanMember
Discount rate	3.80%
Period considered to determine discount assumption	10 years
Maximum percentage of salary escalation	4.50%
Prior service cost arising from the retrospective recognition of past service recognized in the Other Comprehensive Income		$ 14,184
Prior service cost exercised		7,808
Accumulated benefit obligation		$ 3,000
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]		Other Nonoperating Income (Expense)
Weighted average duration of the defined benefit obligation		8 years 1 month 6 days
Expected future benefit Paid in 2025		$ 700
Expected future benefit Paid in 2030		2,800
Forecast
Executive Retirement Plan
Prior service cost expected to be reclassified in the year ending December 31, 2023			$ 700
Projected periodic benefit cost expected in the year ending December 31, 2023			$ 800
Minimum
Executive Retirement Plan
Retirement age assumption to calculate projected benefit obligation	65 years
Maximum
Executive Retirement Plan
Retirement age assumption to calculate projected benefit obligation	74 years
Other long-term liabilities
Executive Retirement Plan
Defined benefit obligation		$ 6,400

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income	$ 559,210	$ 1,052,841	$ 153,550
Denominator (number of shares in thousands):
Basic weighted average common shares outstanding	20,481,894	20,345,394	23,588,994
Dilutive effect of non-vested shares	19,000	239,000	216,000
Diluted weighted average common shares outstanding	20,501,021	20,583,796	23,805,251
Gain on troubled debt write-off	$ 29,400	$ 111,600
Basic earnings per share amount related to the gain on debt extinguishment (in USD per share)	$ 1.43	$ 5.49
Diluted earnings per share amount related to the gain on debt extinguishment (in USD per share)	$ 1.43	$ 5.42

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended								12 Months Ended
	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Subsequent Events
Dividend declared (in US$ per share)		$ 0.75	$ 0.75	$ 0.75	$ 0.75	$ 0.50	$ 0.50	$ 0.50	$ 3	$ 1.50
Subsequent Events
Subsequent Events
Dividend declared (in US$ per share)	$ 0.75
Dividends common stock paid	$ 15.3