Just answer questions based off of case study provided on a maritime- based company. Not looking for a perfect, long paper. Just answering of questions given. Only need to pass this.-------------------------------------EXCERPT-----------------------------------------------------------Part I
Danaos Corporation
Danaos Corporation is a multinational company owning containers and leasing vessels
s
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Just answer questions based off of case study provided on a maritime- based company. Not looking for a perfect, long paper. Just answering of questions given. Only need to pass this.
-------------------------------------EXCERPT-----------------------------------------------------------
Part I
Danaos Corporation
Danaos Corporation is a multinational company owning containers and leasing vessels
supplied to the liner entities across the world. According to the 2013 financial report, Danaos Corporation
grew command a fleet of 61 container ships becoming the number one container ship charter in the globe.
The company sells most of her products to customers across the world and those that are strategically
positioned, for example, Hyundai Merchant Marine, Yang Ming, Maersk and Neptune Orient Lines.
Founded in 1972 the central governing office of Danaos Corporation is located in Piraeus, Greece, but the
company has another branch office in Pusan.
According to the 2016 financial report, the current company profitability reduced by 12%
owed to the fact that the adjusted net income decreased to $140.9 million in 2016 from $159.5 million in
2015. It is noteworthy that the decrease is attributed to the reduction of $18.6 million from the operating
revenues. More so, the reduction was brought about by the Hanjin bankruptcy and additional decline in the
revenues occasioned by the weak charter market during the year.
Furthermore, in 2016 the corporation reported a decline in the EBITDA of $67.7 million to
350.6 million compared to the previous year. The decrease of EBITDA was brought about by the $69.6
million decline in operating revenues of the company. Irrespective of the fact that the company continued to
face a decline in the net earnings, the net cash from the operating activities reduced to $262 million in 2016
up from $272 million in 2015. According to Sarbanes Oxley regulatory framework, the company continued
to show appreciation and commitment to the integrity of the financial reporting and use internal controls in
the company.
Risk management of Danaos
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