EXHIBIT 99.1

DANAOS CORPORATION

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

The following discussion and analysis should be read in conjunction with our interim condensed consolidated financial statements (unaudited) and the notes thereto included elsewhere in this report.

Results of Operations

Three months ended June 30, 2021 compared to three months ended June 30, 2020

During the three months ended June 30, 2021, Danaos had an average of 60.0 containerships compared to 57.1 containerships during the three months ended June 30, 2020. Our fleet utilization for the three months ended June 30, 2021 was 99.1% compared to 97.1% for the three months ended June 30, 2020.

Operating Revenues

Operating revenues increased by 25.3%, or $29.6 million, to $146.4 million in the three months ended June 30, 2021 from $116.8 million in the three months ended June 30, 2020.

Operating revenues for the three months ended June 30, 2021 reflect:

●a $23.6 million increase in revenues in the three months ended June 30, 2021 compared to the three months ended June 30, 2020 mainly as a result of higher charter rates and improved fleet utilization; and

●a $6.0 million increase in revenues in the three months ended June 30, 2021 compared to the three months ended June 30, 2020 due to the incremental revenue generated by five vessels acquired in 2020.

Voyage Expenses

Voyage expenses increased by $1.7 million to $5.0 million in the three months ended June 30, 2021 from $3.3 million in the three months ended June 30, 2020 primarily as a result of the increase in commissions due to the increase in revenue per vessel and the increase in average number of vessels in our fleet.

Vessel Operating Expenses

Vessel operating expenses increased by $4.3 million to $32.9 million in the three months ended June 30, 2021 from $28.6 million in the three months ended June 30, 2020, primarily as a result of the increase in the average number of vessels in our fleet and by an increase in the average daily operating cost of $6,241 per vessel per day for vessels on time charter for the three months ended June 30, 2021 compared to $5,787 per vessel per day for the three months ended June 30, 2020. The average daily operating cost increased mainly due to the COVID-19 related increase in crew remuneration in the three months ended June 30, 2021. Management believes that our daily operating cost remains among the most competitive in the industry.

Depreciation

Depreciation expense increased by 3.2%, or $0.8 million, to $26.1 million in the three months ended June 30, 2021 from $25.3 million in the three months ended June 30, 2020 mainly due to the acquisition of five vessels and installation of scrubbers on nine of our vessels in the year ended December 31, 2020.

Amortization of Deferred Drydocking and Special Survey Costs

Amortization of deferred dry-docking and special survey costs decreased by $0.4 million to $2.5 million in the three months ended June 30, 2021 from $2.9 million in the three months ended June 30, 2020.

General and Administrative Expenses

General and administrative expenses increased by $1.1 million to $7.1 million in the three months ended June 30, 2021, from $6.0 million in the three months ended June 30, 2020. The increase was mainly attributable to increased management fees due to the increased size of our fleet and other corporate administrative expenses.

Interest Expense and Interest Income

Interest expense increased by 33.8%, or $4.6 million, to $18.2 million in the three months ended June 30, 2021 from $13.6 million in the three months ended June 30, 2020. The increase in interest expense is a combined result of:

●

a $2.2 million improvement in interest expense because of a decrease in our average indebtedness by $69.6 million between the two periods (average indebtedness of $1,465.3 million in the three months ended June 30, 2021, compared to average indebtedness of $1,534.9 million in the three months ended June 30, 2020) and a decrease in our debt service cost by approximately 0.36%;

●

a reduced by $6.7 million recognition through our income statement of accumulated accrued interest that had been accrued in 2018 in relation to two of our credit facilities that were refinanced on April 12, 2021. As a result of the refinancing, the recognition of such accumulated interest has been decreased; and

●

a $0.1 million increase in the amortization of deferred finance costs and debt discount related to our debt.

Net proceeds from issuance of our $300 million Senior Notes in February 2021 together with the net proceeds from a new $815 million senior secured credit facility and a new $135 million leaseback arrangement, each drawn down on April 12, 2021 were used to refinance a substantial majority of our indebtedness.

As of June 30, 2021, our outstanding bank debt, gross of deferred finance costs, was $1,165.9 million, which includes $300 million aggregate principal amount of our Senior Notes, and our leaseback obligation was $237.2 million. These balances compare to bank debt of $1,392.6 million and a leaseback obligation of $135.2 million as of June 30, 2020.

Interest income increased by $7.9 million to $9.5 million in the three months ended June 30, 2021 compared to $1.6 million in the three months ended June 30, 2020 mainly as a result of collection of accrued interest on ZIM and HMM bonds, which were redeemed by the issuers thereof during the 2021 period.

Gain on investments

The gain on investments of $196.3 million relates to change in fair value of our shareholding interest in ZIM, which completed its initial public offering and listing on the New York Stock Exchange of its ordinary shares on January 27, 2021. In June 2021, we sold 2,000,000 ordinary shares of ZIM resulting in net proceeds of $76.4 million. The remaining shareholding interest of 8,186,950 ordinary shares has been fair valued at $367.8 million as of June 30, 2021, based on the closing price of ZIM ordinary shares on the NYSE on that date.

Gain on debt extinguishment

The gain on debt extinguishment of $111.6 million in the three months ended June 30, 2021 related to our debt refinancing on April 12, 2021, as described above.

Other Finance Expenses, net

Other finance expenses, net decreased by $0.4 million to $0.6 million in the three months ended June 30, 2021 compared to $1.0 million in the three months ended June 30, 2020 due to the decreased finance costs on the refinanced debt.

Equity income on investments

Equity income on investments increased by $0.5 million to $2.2 million of income on investments in the three months ended June 30, 2021 compared to $1.7 million in the three months ended June 30, 2020 due to the improved operating performance of Gemini, in which the Company had a 49% shareholding interest.

Loss on derivatives

Amortization of deferred realized losses on interest rate swaps remained stable at $0.9 million in each of the three months ended June 30, 2021 and June 30, 2020.

Other income, net

Other income, net was $0.2 million in the three months ended June 30, 2021 compared to nil in the three months ended June 30, 2020.

Six months ended June 30, 2021 compared to six months ended June 30, 2020

During the six months ended June 30, 2021, Danaos had an average of 60.0 containerships compared to 56.4 containerships during the six months ended June 30, 2020. Our fleet utilization for the six months ended June 30, 2021 was 98.9% compared to 94.2% for the six months ended June 30, 2020. Adjusted fleet utilization, excluding the effect of 188 days of incremental off-hire due to shipyard delays related to the COVID-19 pandemic, was 96.1% in the six months ended June 30, 2020.

Operating Revenues

Operating revenues increased by 24.9%, or $55.5 million, to $278.5 million in the six months ended June 30, 2021 from $223.0 million in the six months ended June 30, 2020.

Operating revenues for the six months ended June 30, 2021 reflect:

●a $40.9 million increase in revenues in the six months ended June 30, 2021 compared to the six months ended June 30, 2020 mainly as a result of higher charter rates and improved fleet utilization; and

●a $14.6 million increase in revenues in the six months ended June 30, 2021 compared to the six months ended June 30, 2020 due to the incremental revenue generated by five vessels acquired in 2020.

Voyage Expenses

Voyage expenses increased by $1.9 million to $9.2 million in the six months ended June 30, 2021 from$7.3 million in the six months ended June 30, 2020 primarily as a result of the increase in commissions due to the increase in revenue per vessel and the increase in average number of vessels in our fleet.

Vessel Operating Expenses

Vessel operating expenses increased by $9.4 million to $64.0 million in the six months ended June 30, 2021 from $54.6 million in the six months ended June 30, 2020, primarily as a result of the increase in the average number of vessels in our fleet and by an increase in the average daily operating cost of $6,098 per vessel per day for vessels on time charter for the six months ended June 30, 2021 compared to $5,657 per vessel per day for the six months ended June 30, 2020. The average daily operating cost increased mainly due to the COVID-19 related increase in crew remuneration in the six months ended June 30, 2021. Management believes that our daily operating cost remains among the most competitive in the industry.

Depreciation

Depreciation expense increased by 4.2%, or $2.1 million, to $51.9 million in the six months ended June 30, 2021 from $49.8 million in the six months ended June 30, 2020 mainly due to the acquisition of five vessels and installation of scrubbers on nine of our vessels in the year ended December 31, 2020.

Amortization of Deferred Drydocking and Special Survey Costs

Amortization of deferred dry-docking and special survey costs decreased by $0.2 million to $5.1 million in the six months ended June 30, 2021 from $5.3 million in the six months ended June 30, 2020.

General and Administrative Expenses

General and administrative expenses increased by $6.1 million to $18.0 million in the six months ended June 30, 2021, from $11.9 million in the six months ended June 30, 2020. The increase was mainly attributable to increased management fees due to the increased size of our fleet and increased stock-based compensation.

Interest Expense and Interest Income

Interest expense increased by 11.4%, or $3.4 million, to $33.3 million in the six months ended June 30, 2021 from $29.9 million in the six months ended June 30, 2020. The increase in interest expense is a combined result of:

●

a $7.5 million improvement in interest expense because of a decrease in our debt service cost by approximately 0.94%, while our average indebtedness remained stable at $1,539.5 million in the six months ended June 30, 2021 compared to the six months ended June 30, 2020;

●

a reduced by $10.0 million recognition through our income statement of accumulated accrued interest that had been accrued in 2018 in relation to two of our credit facilities that were refinanced on April 12, 2021. As a result of the refinancing, the recognition of such accumulated interest has been decreased; and

●

a $0.9 million increase in the amortization of deferred finance costs and debt discount related to our debt.

Interest income increased by $8.2 million to $11.5 million in the six months ended June 30, 2021 compared to $3.3 million in the six months ended June 30, 2020, mainly as a result of collection of accrued interest on ZIM and HMM bonds, which were redeemed by the issuers thereof during the 2021 period.

Gain on investments

The gain on investments of $444.2 million relates to change in fair value of our shareholding interest in ZIM, which completed its initial public offering and listing on the New York Stock Exchange of its ordinary shares on January 27, 2021. In June 2021, we sold 2,000,000 ordinary shares of ZIM resulting in net proceeds of $76.4 million. For the six months ended June 30, 2021, the unrealized gain related to the ZIM ordinary shares still held on June 30, 2021 amounted to $367.8 million. The remaining shareholding interest of 8,186,950 ordinary shares has been fair valued at $367.8 million as of June 30, 2021, based on the closing price of ZIM ordinary shares on the NYSE on that date compared to the book value of these shares of $75 thousand as of December 31, 2020.

Gain on debt extinguishment

The gain on debt extinguishment of $111.6 million in the six months ended June 30, 2021 related to our debt refinancing on April 12, 2021, as described above.

Other Finance Expenses, net

Other finance expenses, net decreased by $0.7 million to $1.0 million in the six months ended June 30, 2021 compared to $1.7 million in the six months ended June 30, 2020 due to the decreased finance costs on the refinanced debt.

Equity income on investments

Equity income on investments increased by $0.7 million to $4.0 million of income on investments in the six months ended June 30, 2021 compared to $3.3 million in the six months ended June 30, 2020 due to the improved operating performance of Gemini, in which the Company had a 49% shareholding interest.

Loss on derivatives

Amortization of deferred realized losses on interest rate swaps remained stable at $1.8 million in each of the six months ended June 30, 2021 and June 30, 2020.

Other income, net

Other income, net was $4.1 million in income in the six months ended June 30, 2021 compared to $0.3 million in income in the six months ended June 30, 2020. The increase was mainly due to the collection from Hanjin Shipping of $3.9 million as a partial payment of common benefit claim and interest.

Liquidity and Capital Resources

Our principal source of funds has been operating cash flows, vessel sales, and long-term bank borrowings, as well as equity provided by our stockholders from our initial public offering in October 2006; common stock sales in August 2010 and the fourth quarter of 2019; and the capital contribution of Danaos Investment Limited as Trustee of the 883 Trust (“DIL”) on August 10, 2018. In February 2021, we sold $300 million of 8.500% senior unsecured notes due 2028 (the “Senior Notes”). We used the net proceeds from this offering, together with proceeds from a new $815 million senior secured credit facility with a four-year term (the “$815 Million Senior Secured Credit Facility”) and a new $135 million sale and leaseback arrangement (the “2021 Leaseback Agreement”), to implement a $1.25 billion refinancing of a substantial majority of our outstanding senior secured indebtedness consummated on April 12, 2021 (the “2021 Debt Refinancing”). Our completion of the 2021 Debt Refinancing extended the maturities of most of our indebtedness and decreased the amount of our cash from operations that is required to service our indebtedness, as reduced amortization and debt levels more than offset the higher interest rate payable under the Senior Notes. See “2021 Debt Refinancing” below. Our principal uses of funds have been capital expenditures to establish, grow and maintain our fleet, comply with international shipping standards, environmental laws and regulations and to fund working capital requirements and repayment of debt.

Our short-term liquidity needs primarily relate to the funding of our vessel operating expenses, debt interest payments and servicing our debt obligations, as well as the purchase price for the remaining 51% of the equity interest in Gemini that we did not already own for $86.7 million and six 5,466 TEU container vessels en bloc for $260 million, which we agreed to acquire in July 2021. We expect to finance the purchase price for these acquisitions with cash on hand, including cash generated from operations; although the Company is evaluating debt financing alternatives to finance part of the purchase price for the six 5,466 TEU container vessels. We assumed long-term debt of $23.1 million and obligations under finance leases of $21.9 million from Gemini as of July 1, 2021. Our long-term liquidity needs primarily relate to any additional vessel acquisitions in the containership sector and debt repayment. We anticipate that our primary sources of funds will be cash from operations and equity or debt financings.

Under our existing multi-year charters as of June 30, 2021, we had contracted revenues of $303.6 million for the remainder of 2021, $548.9 million for 2022 and thereafter $643.4 million. Although these contracted revenues are based on contracted charter rates, we are dependent on the ability and willingness of our charterers to meet their obligations under these charters.

As of June 30, 2021, we had cash and cash equivalents of $294.4 million. As of June 30, 2021, we had no remaining borrowing availability under our credit facilities. As of June 30, 2021, we had $1,165.9 million of outstanding indebtedness (gross of deferred finance costs), including $300 million relating to our Senior Notes, and $237.2 million of outstanding leaseback obligations, gross of deferred finance costs, with respect to seven of our vessels. We are obligated to make quarterly fixed amortization payments, totaling $93.5 million to June 30, 2022, related to the long-term bank debt and aggregate payments of $63.3 million ($74.7 million including imputed interest) under our leaseback obligations to June 30, 2022 (gross of deferred finance costs).

We have declared a dividend of $0.50 per share of common stock payable on August 30, 2021, to holders of record on August 16, 2021. We intend to pay a regular quarterly dividend on our common stock, which will have an impact on our liquidity. Payments of dividends are subject to the discretion of our board of directors, provisions of Marshall Islands law affecting the payment of distributions to stockholders and the terms of our credit facilities, which permit the payment of dividends so long as there has been no event of default thereunder nor would occur as a result of such dividend payment, and will be subject to conditions in the container shipping industry, our financial performance and us having sufficient available excess cash and distributable reserves.

ZIM and HMM Securities

In July 2014, ZIM and its creditors entered into definitive documentation effecting ZIM’s restructuring with its creditors. The terms of the restructuring included a reduction in the charter rates payable by ZIM under its time charters, expiring in 2020 or 2021, for six of our vessels. The terms also included our receipt of approximately $49.9 million aggregate principal amount of unsecured, interest bearing ZIM notes maturing in 2023 (consisting of $8.8 million of 3% Series 1 Notes due 2023 amortizing subject to available cash flow in accordance with a corporate cash sweep mechanism, and $41.1 million of 5% Series 2 Notes due 2023 non-amortizing (of the 5% interest rate, 3% is payable quarterly in cash and 2% is payable in kind, accrued quarterly with deferred cash payment on maturity)) and ZIM shares representing approximately 7.4% of the outstanding ZIM shares immediately after the restructuring, in exchange for such charter rate reductions and cancellation of ZIM’s other obligations to us which relate to the outstanding long term receivable as of December 31, 2013. In March 2020, we increased our equity participation in ZIM to 10.2% by acquisition of additional shares for $75 thousand. On January 27, 2021, ZIM completed its initial public offering and listing on the New York Stock Exchange of its ordinary shares. Following this offering the Company owned 10,186,950 ordinary shares of ZIM. These shares were recorded at a book value of $75 thousands as of December 31, 2020. In June 2021, the Company sold 2,000,000 of ordinary shares of ZIM resulting in net proceeds of $76.4 million. The remaining shareholding interest of 8,186,950 ordinary shares, which are subject to a lockup agreement with the underwriters of the June 2021 stock sale until September 2021, has been fair valued at $367.8 million as of June 30, 2021, based on the closing price of ZIM ordinary shares on the NYSE on that date. For the six months ended June 30, 2021, we recognized a total gain of $444.2 million on these shares and is reflected under “Gain on investments” in the condensed consolidated statement of income. For the six months ended June 30, 2021, the unrealized gain related to the ZIM ordinary shares still held on June 30, 2021 amounted to $367.8 million. Additionally, in the six months ended June 30, 2021, we received a total of $56.4 million of mandatory repayments and accrued interest which fully repaid all ZIM notes. See Note 6, “Other Non-current Assets” to our unaudited condensed consolidated financial statements included in this report.

In July 2016, we entered into a charter restructuring agreement with Hyundai Merchant Marine (“HMM”), which provides for a 20% reduction, for the period until December 31, 2019 (or earlier charter expiration in the case of eight vessels), in the charter hire rates payable for thirteen of our vessels currently employed with HMM. In exchange, under the charter restructuring agreement we received (i) $32.8 million principal amount of senior, unsecured Loan Notes 1, amortizing subject to available cash flows, which accrue interest at 3% per annum payable on maturity in July 2024, (ii) $6.2 million principal amount of senior, unsecured, non-amortizing Loan Notes 2, which accrue interest at 3% per annum payable on maturity in December 2022 and (iii) 4,637,558 HMM shares, which were sold on September 1, 2016 for cash proceeds of $38.1 million. On March 28, 2017, the Company sold $13.0 million principal amount carried at amortized costs of $8.6 million of HMM Loan Notes 1 for gross cash proceeds on sale of $6.2 million resulting in a loss on sale of $2.4 million. In the six months ended June 30, 2021, we received $22.9 million of mandatory repayments and accrued interest on remaining HMM Notes 1, fully repaying them. The HMM Notes 2 are classified as available for sale securities and valued at $6.0 million as of June 30, 2021. See Note 6, “Other Non-current Assets” to our unaudited condensed consolidated financial statements included elsewhere in this report.

Impact of COVID-19 on our Business

The spread of the COVID-19 virus, which was 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 duration and full effects of this global health emergency and related disruptions are uncertain. The pandemic has had severe impacts on the global economic activity, which were expected to lead to a global recession. These trends are expected to continue for the near future as, while the availability of effective vaccines has led to a developing economic recovery in parts of the world, the success and timing of COVID-19 containment strategies are uncertain and negative impacts are expected to reverberate beyond the duration of the pandemic itself. However, the container shipping industry, in contrast with other sectors, has already reversed many of the negative impacts suffered in the first half of 2020.

In particular as it pertains to our business, the COVID-19 pandemic negatively affected global demand for the seaborne transportation of containerized cargoes. Global seaborne container trade declined in 2020, with an estimated impact of around 1% in TEU terms. Liner companies initially responded to these circumstances by reducing service and cutting sailings, which increased idle containership fleet capacity in the first half of 2020 to a peak of 12%. As a result, container freight rates were volatile and containership charter market rates declined significantly in the first half of 2020. However, the ability of the liner companies to consistently manage capacity addressed the drop in volumes at the onset of the pandemic, which alleviated pressure on our customers’ cash flows, many of whom have since reported strong profitability, and stabilized freight rates. The second half of 2020 and the first half of 2021 has seen robust demand for seaborne transportation of containerized cargo, with freight volumes and freight rates rebounding sharply. The growth of e-commerce, together with the grounding of aircraft resulting from travel restrictions, has shifted significant shipping volume to seaborne containers. The resulting demand for containerships has resulted in negligible vessel capacity available in certain size segments as of June 30, 2021, increasing charter rates for all segments and enabling us to recharter many of our smaller vessels which had charters expiring during this period at higher rates. Many liner operators and containership owners reported improved results in the second half of 2020 and the first half of 2021, due in part to improving container shipping industry market conditions. Our operating revenues increased to $278.5 million in the six months ended June 30, 2021 compared to $223.0 million in the six months ended June 30, 2020.

COVID-19 related travel restrictions imposed on a global level also caused disruptions in scheduled crew changes on our vessels, caused an increase in remuneration of our crew on the vessels and delays in carrying out of certain hull repairs and maintenance in 2020, which disruptions could continue to affect our operations. During the first quarter of 2020, we experienced delays in Chinese shipyards related to the scheduled installations of the scrubbers on certain of our vessels and delays in carrying out dry-docking repairs, which resulted in incremental 188 off-hire days of our vessels ultimately leading to decreased operating revenue by approximately $3.2 million compared to our expectations. The average daily operating cost per vessel per day for vessels on time charter for the six months ended June 30, 2021 increased to $6,098 compared to $5,657 per vessel per day for the six months ended June 30, 2020, mainly due to the COVID-19 related increase in crew remuneration in the six months ended June 30, 2021.

In response to the pandemic, we have instituted enhanced safety protocols such as having a substantial portion of our on-shore staff working remotely, more frequent disinfection of our on-shore facilities, temperature readings, limitation of on-site visitors and travel, vaccination, mandatory self-isolation of personnel returning from travel and replacing physical meetings with virtual meetings. We expect to continue such measures, which have not had a significant impact on our expenses, to some degree until the pandemic abates. In addition, the prevailing low interest rates, in part due to actions taken by central banks to stimulate economic activity in the face of the pandemic, has also reduced our interest expense, while lower fuel prices during 2020, which is a substantial expense borne by our customers, has helped to bolster their financial position.

The COVID-19 pandemic continues to unfold and may negatively affect our business, financial performance and results of our operations in the future, as it did in the first half of 2020. The extent of any such effects depends on factors beyond our control and cannot be predicted with certainty. Any prolonged slowdown in the global economy may again negatively impact worldwide demand for products transported by containerships, adversely affect the liquidity and financial position of our charterers and may decrease rechartering hire rates for our vessels. This could result in reductions in our revenue and the market value of our vessels, which could materially adversely affect our business and results of operations, as well as our ability to service or refinance our debt and comply with financial covenants of our credit facilities.

Cash Flows


	Six Months		Six Months
	ended		ended
	June 30, 2021		June 30, 2020

	(In thousands)
Net cash provided by operating activities	$	192,743	$	116,868
Net cash provided by/(used in) investing activities	$	144,066	$	(98,821)
Net cash used in financing activities	$	(108,054)	$	(72,262)

Net Cash Provided by Operating Activities

Net cash flows provided by operating activities increased by $75.8 million, to $192.7 million provided by operating activities in the six months ended June 30, 2021 compared to $116.9 million provided by operating activities in the six months ended June 30, 2020. The increase was the result mainly of a $55.5 million increase in operating revenues, lower payments for dry-docking and special survey costs by $12.2 million, the partial collection of common benefit claim of $3.9 million from Hanjin Shipping, a $11.9 million change in working capital and a $4.9 million decrease in net finance cost, which were partially offset by a $12.6 million increase in operating expenses in the six months ended June 30, 2021 compared to the six months ended June 30, 2020.

Net Cash Provided by/(Used in) Investing Activities

Net cash flows provided by/(used in) investing activities increased by $242.9 million, to $144.1 million provided by investing activities in the six months ended June 30, 2021 compared to $98.8 million used in investing activities in the six months ended June 30, 2020. The change was mainly due to the acquisition of new vessels and advances mainly related to installation of scrubbers and vessel additions of $98.7 million in 2020 compared to $1.8 million additions to the vessels in 2021, as well as $69.5 million mandatory principal redemption of ZIM and HMM debt securities and $76.4 million in net proceeds from the sale of ZIM ordinary shares in the six months ended June 30, 2021.

Net Cash Used in Financing Activities

Net cash flows used in financing activities increased by $35.8 million, to $108.1 million used in financing activities in the six months ended June 30, 2021 compared to $72.3 million used in financing activities in the six months ended June 30, 2020 mainly due to the $25.5 million increase in net debt and finance costs payments related to the debt refinancing described above and due to an aggregate $10.3 million dividend payment on our common stock in the six months ended June 30, 2021 compared to none in the six months ended June 30, 2020.

Non-GAAP Financial Measures

We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes, however, that certain non-GAAP financial measures used in managing the business may provide users of this financial information additional meaningful comparisons between current results and results in prior operating periods. Management believes that these non-GAAP financial measures can provide additional meaningful reflection of underlying trends of the business because they provide a comparison of historical information that excludes certain items that impact the overall comparability. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating our performance. See the table below for supplemental financial data and corresponding reconciliation to GAAP financial measures. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP.

EBITDA and Adjusted EBITDA

EBITDA represents net income before interest income and expense, taxes, depreciation, as well as amortization of deferred drydocking & special survey costs, amortization of deferred realized losses of cash flow interest rate swaps, amortization of finance costs and finance costs accrued. Adjusted EBITDA represents net income before interest income and expense, taxes, depreciation, amortization of deferred drydocking & special survey costs, amortization of deferred realized losses of cash flow interest rate swaps, amortization of finance costs and finance costs accrued, gain on investments, gain on debt extinguishment and stock-based compensation. We believe that EBITDA and Adjusted EBITDA assist investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. EBITDA and Adjusted EBITDA are also used: (i) by prospective and current customers as well as potential lenders to evaluate potential transactions; and (ii) to evaluate and price potential acquisition candidates. Our EBITDA and Adjusted EBITDA may not be comparable to that reported by other companies due to differences in methods of calculation.

EBITDA and Adjusted EBITDA have limitations as analytical tools, and should not be considered in isolation or as a substitute for analysis of our results as reported under U.S. GAAP. Some of these limitations are: (i) EBITDA/Adjusted EBITDA does not reflect changes in, or cash requirements for, working capital needs; and (ii) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and EBITDA/Adjusted EBITDA do not reflect any cash requirements for such capital expenditures. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Because of these limitations, EBITDA/Adjusted EBITDA should not be considered as principal indicators of our performance.

Reconciliation of Net Income to EBITDA and Adjusted EBITDA


	Six Months		Six Months
	ended		ended
	June 30, 2021		June 30, 2020

	(In thousands)
Net income	$	669,617	$	67,585
Depreciation		51,898		49,839
Amortization of deferred drydocking & special survey costs		5,054		5,251
Amortization of deferred realized losses of cash flow interest rate swaps		1,796		1,806
Amortization of finance costs and debt discount		8,808		7,932
Finance costs accrued (Exit Fees under our Bank Agreements)		149		258
Interest income		(11,509)		(3,302)
Interest expense		24,507		22,026
EBITDA		750,320		151,395
Gain on investments		(444,165)		—
Gain on debt extinguishment		(111,616)		—
Stock based compensation		5,479		596
Adjusted EBITDA	$	200,018	$	151,991

EBITDA increased by $598.9 million, to $750.3 million in the six months ended June 30, 2021 from $151.4 million in the six months ended June 30, 2020. This increase was mainly attributed to a gain on ordinary shares of ZIM of $444.2 million, a gain on debt extinguishment of $111.6 million, a $55.5 million increase in operating revenues, a partial collection of common benefit claim of $3.9 million from Hanjin Shipping, a $0.7 million increase in the operating performance of our equity investees and a $0.5 million decrease in net finance expenses, which were partially offset by a $17.5 million increase in total operating expenses in the six months ended June 30, 2021 compared to the six months ended June 30, 2020.

Adjusted EBITDA increased by $48.0 million, to $200.0 million in the six months ended June 30, 2021 from $152.0 million in the six months ended June 30, 2020. This increase was mainly attributed to a $55.5 million increase in operating revenues, a partial collection of common benefit claim of $3.9 million from Hanjin Shipping, a $0.7 million increase in the operating performance of our equity investees and a $0.5 million decrease in net finance expenses, which were partially offset by a $12.6 million increase in total operating expenses in the six months ended June 30, 2021 compared to the six months ended June 30, 2020. Adjusted EBITDA for the six months ended June 30, 2021 is adjusted for gain on ordinary shares of ZIM of $444.2 million, gain on debt extinguishment of $111.6 million and $5.5 million of stock-based compensation.

Credit Facilities

We, as borrower or guarantor and certain of our subsidiaries, as borrowers or guarantors, have entered into a number of credit facilities in connection with financing the acquisition of certain vessels in our fleet and the 2021 Debt Refinancing, which are described in Note 8 “Long-term Debt, net” in the unaudited condensed consolidated financial statements included in this document. Our existing credit facilities are secured by, among other things, our vessels (as described below). We do not have any additional amounts for borrowing under our existing credit facilities. The following summarizes certain terms of our credit facilities and our Senior Notes:


	Outstanding
	Principal
	Amount (in
Credit Facility	millions)(1)		Collateral Vessels
Citibank/Natwest $815 mil. Facility(2)	$	815.0	The Progress C, the Highway, the Bridge, the Zim Monaco, the Express Argentina, the Express France, the Express Spain, the CMA CGM Racine, the America, the Hyundai Smart, the Express Berlin, the Le Havre, the Derby D, the Vladivostok, the Advance, the Stride, the Future, the Sprinter, the Amalia C, the Zebra,
			the Artotina (ex Danae C), the Dimitris C, the Zim Savannah (ex Performance), the Europe, the Dimitra C, the Hyundai Speed, the Express Rome, the CMA CGM Rabelais, the Pusan C, the Tongala (ex ANL Tongala), the CMA CGM Moliere, the CMA CGM Musset,
			the Rio Grande, the Zim Sao Paolo, the Zim Kingston, the Colombo,
			the Seattle C, the Vancouver, the Singapore, the Express Athens, the Hyundai Ambition, the Dalian (ex Zim Dalian), the Express Brazil,
			the YM Maturity, the Express Black Sea, the Zim Luanda, the CMA CGM Nerval and the YM Mandate
Macquarie Bank $58 mil. Facility	$	50.8	The Niledutch Lion, the Phoebe, the Bremen and the C Hamburg
SinoPac $13.3 mil. Facility	$	11.8	The Charleston
Senior Notes	$	300.0	None

(1)	As of June 30, 2021.

(2)	Danaos Corporation is the borrower, and its subsidiaries owning the 48 collateral vessels set forth opposite the name of the facility in the table, are guarantors, under this credit facility.

As of June 30, 2021, there was no remaining borrowing availability under any of our credit facilities. We were in compliance with the financial covenants of the credit facilities as of June 30, 2021 and December 31, 2020. For additional details regarding the credit facilities, please refer to Note 8 "Long-term Debt, net" in the unaudited condensed consolidated financial statements included in this document.

Additionally, in May 2020, we refinanced two of our 13,100 TEU vessels, the Hyundai Honour and the Hyundai Respect, through a sale and leaseback arrangement with a four-year term at the end of which we will reacquire the vessels for a specified purchase price. On April 12, 2021 we entered into a new sale and leaseback arrangement for five of our vessels, CMA CGM Attila, CMA CGM Tancredi, CMA CGM Bianca, CMA CGM Samson and CMA CGM Melisande, with a five-year term at the end of which we will also reacquire these vessels for a specified purchase price. As of June 30, 2021, we had a total of $237.2 million of outstanding leaseback obligations. See Note 3 “Fixed Assets, net” to our unaudited condensed consolidated financial statements included in this report.

Senior Notes

On February 11, 2021, we consummated an offering of $300 million aggregate principal amount of 8.500% Senior Notes due 2028 of Danaos Corporation, which we refer to as the Senior Notes. The net proceeds from the offering were initially placed into an escrow account, with Citibank, N.A., as escrow agent, and subsequently released in April 2021 for use in connection with the 2021 Debt Refinancing.

The Senior Notes were issued pursuant to an Indenture, dated as of February 11, 2021, between the Company and Citibank, N.A., London Branch, as trustee, paying agent, registrar and transfer agent. The Senior Notes bear interest at a rate of 8.500% per year, payable in cash on March 1 and September 1 of each year, commencing September 1, 2021. The Senior Notes will mature on March 1, 2028. The Senior Notes are general senior unsecured obligations of Danaos Corporation.

For additional details regarding the Senior Notes please refer to Note 8, “Long-term Debt, net” in the unaudited condensed consolidated financial statements included elsewhere in this report and “Item 5. Operating and Financial Review and Prospects –Senior Notes” in our Annual Report on Form 20-F for the year ended December 31, 2020 filed with the Securities and Exchange Commission on March 4, 2021.

2021 Debt Refinancing

On April 12, 2021, we consummated our refinancing of a substantial majority of our outstanding senior secured indebtedness, which we refer to as the 2021 Debt Refinancing, and used the proceeds from our new $815 Million Senior Secured Credit Facility with Citibank N.A. and National Westminster Bank plc, entered into on April 1, 2021, our $135 million 2021 Leaseback Agreement with Oriental Fleet International Company Limited, an affiliate of COSCO Shipping Lease Co., Ltd., with respect to five of our vessels, CMA CGM Attila, CMA CGM Tancredi, CMA CGM Bianca, CMA CGM Samson and CMA CGM Melisande, and the net proceeds, which were released from escrow, of the Company’s February 2021 offering of Senior Notes, to refinance all of the outstanding indebtedness under the following senior secured credit facilities: (1) The Royal Bank of Scotland $475.5 million facility, (2) HSH Nordbank-Aegean Baltic Bank-Piraeus Bank $382.5 million facility, (3) Citibank $114 million Facility, (4) Citibank $123.9 million facility, (5) Citibank $120 million facility, (6) Citibank-Eurobank $37.6 million facility, (7) Club Facility $206.2 million, (8) Credit Suisse $171.8 million facility and (9) Sinosure-Cexim-Citibank-ABN Amro $203.4 million facility. The 2021 Debt Refinancing, including the $815 Million Senior Secured Credit Facility and 2021 Leaseback Agreement, were effected on the terms described in additional detail in the Company’s Annual Report on Form 20-F, see Item 5 “Operating and Financial Review and Prospects — 2021 Debt Refinancing” filed with the SEC on March 4, 2021 and Note 8 “Long-term Debt, net” in the unaudited condensed consolidated financial statements included in this document.

These refinanced senior secured credit facilities represented all of our existing credit facilities and other secured financing arrangements other than (1) our Macquarie Bank and SinoPac senior secured credit facilities, which respectively financed and are secured by the five vessels we acquired in 2020, which we refer to as the “2020 Credit Facilities”, and (2) our sale-leaseback arrangement entered into in 2020 for the vessels Hyundai Honour and Hyundai Respect, which we refer to as the 2020 Leaseback Agreement, which remain in place in accordance with their existing terms after the 2021 Debt Refinancing.

In connection with the 2021 Debt Refinancing, the Company’s Amended and Restated Restrictive Covenant Agreement and Amended and Restated Management Agreement were amended and restated to eliminate references to the refinanced credit facilities and provisions related to arrangements with lenders under those credit facilities. In addition, the Stockholders Agreement, dated as of August 10, 2018, among Danaos Corporation and the stockholders bound thereby, and the Registration Rights Agreement, dated as of August 10, 2018, among Danaos Corporation and the stockholders bound thereby, were terminated as of April 30, 2021.

Qualitative and Quantitative Disclosures about Market Risk

Interest Rate Swaps

In the past, we entered into interest rate swap agreements converting floating interest rate exposure into fixed interest rates in order to hedge our exposure to fluctuations in prevailing market interest rates, as well as interest rate swap agreements converting the fixed rate we paid in connection with certain of our credit facilities into floating interest rates in order to economically hedge the fair value of the fixed rate credit facilities against fluctuations in prevailing market interest rates. All of these interest rate swap agreements have expired and we do not currently have any outstanding interest rate swap agreements. Refer to Note 9, “Financial Instruments”, to our unaudited condensed consolidated financial statements included in this report.

Foreign Currency Exchange Risk

We did not enter into derivative instruments to hedge the foreign currency translation of assets or liabilities or foreign currency transactions during the six months ended June 30, 2021 and 2020.

Off-Balance Sheet Arrangements

We do not have any transactions, obligations or relationships that could be considered material off-balance sheet arrangements.

Capitalization and Indebtedness

The table below sets forth our consolidated capitalization as of June 30, 2021.

●

on an actual basis; and

●

on an as adjusted basis to reflect, in the period from July 1, 2021 to July 31, 2021, the acquisition of long-term debt of $23.1 million and obligations under finance leases of $21.9 million from Gemini as of July 1, 2021; and scheduled debt repayments under the new $815 Million Senior Secured Credit Facility amounting to $20.4 million, $5.2 million related to our leaseback obligations and $0.5 million related to the SinoPac credit facility.

Other than these adjustments, there have been no other material changes to our capitalization from debt or equity issuances, re-capitalizations, special dividends, or debt repayments as adjusted in the table below between July 1, 2021 and July 31, 2021.


	As of June 30, 2021
	Actual		As adjusted

	(US Dollars in thousands)
Debt:
Senior Secured Credit Facilities	$	877,600	$	879,850
Leaseback Obligations		237,215		253,850
Senior Notes due 2028		300,000		300,000
Total debt (1) (2)	$	1,414,815	$	1,433,700
Stockholders’ equity:
Preferred stock, par value $0.01 per share; 100,000,000 preferred shares authorized and none issued; actual and as adjusted		—		—
Common stock, par value $0.01 per share; 750,000,000 shares authorized; 24,938,211 shares issued and 20,598,940 shares outstanding; actual and as adjusted (3)		206		206
Additional paid-in capital (3)		760,869		760,869
Accumulated other comprehensive loss		(73,851)		(73,851)
Retained earnings		1,025,969		1,025,969
Total stockholders’ equity		1,713,193		1,713,193
Total capitalization	$	3,128,008	$	3,146,893

(1)

Long-term debt excludes accumulated accrued interest of $33.3 million outstanding as of June 30, 2021. All of the indebtedness reflected in the table is secured and is guaranteed by Danaos Corporation, in the case of indebtedness of our subsidiaries ($62.6 million on an actual basis) and leaseback obligations of our subsidiaries ($237.2 million on an actual basis), or by our subsidiaries, in the case of indebtedness of Danaos Corporation ($815 million on an actual basis) and Senior Notes due 2028 ($300.0 million on an actual basis). See Note 8 “Long-Term Debt, net” and Note 3 “Fixed Assets, net” to our unaudited condensed consolidated financial statements included elsewhere in this report.

(2)	Total debt is presented gross of the fair value adjustment and deferred finance costs, which amount to $11.7 million and $37.9 million, respectively.

(3)	Actual and as adjusted issued and outstanding common stock include 245,148 shares of restricted stock, which are scheduled to vest on December 31, 2021 and December 31, 2022, subject to satisfaction of the vesting terms.

Our Fleet

The following table describes in detail our fleet deployment profile as of August 2, 2021:


								Extension Options(4)
	Year	Size	Expiration of		Contracted Employment	Charter			Charter
Vessel Name	Built	(TEU)	Charter⁽¹⁾	Charterer	through⁽²⁾	Rate⁽³⁾		Period	Rate
Hyundai Ambition	2012	13,100	June 2024	HMM	June 2024	$	64,918	+ 3 years	$	60,418
Hyundai Speed	2012	13,100	June 2024	HMM	June 2024	$	64,918	+ 3 years	$	60,418
Hyundai Smart	2012	13,100	May 2024	HMM	May 2024	$	64,918	+ 3 years	$	60,418
Hyundai Respect ⁽⁵⁾	2012	13,100	March 2024	HMM	March 2024	$	64,918	+ 3 years	$	60,418
Hyundai Honour ⁽⁵⁾	2012	13,100	February 2024	HMM	February 2024	$	64,918	+ 3 years	$	60,418
Express Rome	2011	10,100	February 2022	Hapag Lloyd	February 2022	$	28,000	+ 3 months	$	28,000
								+ 10 up to 14 months	$	29,000
								+ 10 up to 14 months	$	30,000
Express Berlin	2011	10,100	April 2022	Yang Ming	April 2022	$	27,750	+ 4 months	$	27,750
								+ 10.5 to 13.5 months	$	27,750
Express Athens	2011	10,100	February 2022	Hapag Lloyd	February 2022	$	28,000	+ 3 months	$	28,000
								+ 10 up to 14 months	$	29,000
								+ 10 up to 14 months	$	30,000
Le Havre	2006	9,580	April 2023	MSC	April 2023	$	23,000	+ 4 months	$	23,000
Pusan C	2006	9,580	March 2023	MSC	March 2023	$	23,000	+ 4 months	$	23,000
Bremen	2009	9,012	December 2022	MSC	December 2022	$	23,000	+ 2 months	$	23,000
C Hamburg	2009	9,012	January 2023	MSC	January 2023	$	23,000	+ 2 months	$	23,000
Niledutch Lion	2008	8,626	May 2026	Niledutch	May 2022	$	28,000
					May 2026	$	47,500	+ 4 months	$	47,500
Charleston	2005	8,533	February 2026	RCL	February 2022	$	30,000
				PIL	February 2026	$	47,500	+ 4 months	$	47,500
CMA CGM Melisande ⁽⁵⁾	2012	8,530	May 2024	CMA CGM	November 2023	$	43,000	+ 6 months	$	43,000
					May 2024 / November 2024		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Attila ⁽⁵⁾	2011	8,530	October 2023	CMA CGM	April 2023	$	43,000	+ 6 months	$	43,000
					October 2023 / April 2024		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Tancredi ⁽⁵⁾	2011	8,530	November 2023	CMA CGM	May 2023	$	43,000	+ 6 months	$	43,000
					November 2023 / May 2024		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Bianca ⁽⁵⁾	2011	8,530	January 2024	CMA CGM	July 2023	$	43,000	+ 6 months	$	43,000
					January 2024 / July 2024		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Samson ⁽⁵⁾	2011	8,530	March 2024	CMA CGM	September 2023	$	43,000	+ 6 months	$	43,000
					March 2024 / September 2024		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
America	2004	8,468	February 2023	MSC	February 2023	$	22,000	+4 months	$	22,000
Europe	2004	8,468	March 2023	MSC	March 2023	$	22,000	+4 months	$	22,000
Phoebe	2005	8,463	April 2022	ONE	April 2022	$	24,000	+4 months	$	24,000
CMA CGM Moliere	2009	6,500	February 2022	CMA CGM	August 2021	$	34,350	+ 2 months	$	34,350
					February 2022 / April 2022		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Musset	2010	6,500	August 2022	CMA CGM	February 2022	$	34,350	+ 2 months	$	34,350
					August 2022 / October 2022		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Nerval	2010	6,500	October 2022	CMA CGM	April 2022	$	34,350	+ 2 months	$	34,350
					October 2022 / December 2022		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Rabelais	2010	6,500	December 2022	CMA CGM	June 2022	$	34,350	+ 2 months	$	34,350
					December 2022 / February 2023		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
CMA CGM Racine	2010	6,500	January 2023	CMA CGM	July 2022	$	34,350	+ 2 months	$	34,350
					January 2023 / March 2023		at market ⁽⁶⁾	+ 6 months		at market ⁽⁶⁾
YM Mandate	2010	6,500	January 2028	Yang Ming	January 2028	$	26,890 ⁽⁷⁾	+ 8 months	$	26,890 ⁽⁷⁾
YM Maturity	2010	6,500	April 2028	Yang Ming	April 2028	$	26,890 ⁽⁷⁾	+ 8 months	$	26,890 ⁽⁷⁾
Dimitra C	2002	6,402	January 2023	Hapag Lloyd	January 2023	$	20,000	+ 3 months	$	20,000
								+ 12 months	$	21,500
Zim Savannah	2002	6,402	May 2024	ZIM	May 2024	$	36,000	+ 6 months	$	36,000
Rio Grande	2008	4,253	November 2024	KMTC	February 2022	$	24,500
				OOCL	January 2023	$	68,000
					December 2023	$	50,000
					November 2024	$	17,000	+ 2 months	$	45,000
ZIM Sao Paolo	2008	4,253	February 2023	ZIM	February 2023	$	21,150	+ 4 months	$	21,150
								+ 13 months	$	25,000
ZIM Kingston	2008	4,253	April 2023	ZIM	April 2023	$	25,500	+ 4 months	$	25,500
ZIM Monaco	2009	4,253	July 2022	ZIM	July 2022	$	20,000	+ 2 months	$	20,000
								+ 5 months	$	22,000
Dalian	2009	4,253	November 2022	KMTC	November 2022	$	30,750	+ 4 months	$	30,750
ZIM Luanda	2009	4,253	August 2025	ZIM	August 2021	$	17,721
					August 2025	$	30,000	+ 4 months	$	30,000
Seattle C	2007	4,253	October 2024	CMA CGM	December 2021	$	25,000
				OOCL	December 2022	$	68,000
					November 2023	$	50,000
					October 2024	$	17,000	+ 2 months	$	45,000
Vancouver	2007	4,253	November 2024	OOCL	January 2022	$	23,500
					January 2023	$	68,000
					December 2023	$	50,000
					November 2024	$	17,000	+ 2 months	$	45,000
Derby D	2004	4,253	January 2027	CMA CGM	March 2022	$	25,000
					January 2027	$	36,275	+ 3 months	$	36,275
Tongala	2004	4,253	January 2023	ZIM	January 2023	$	30,750	+ 4 months	$	30,750
Dimitris C	2001	3,430	January 2022	CMA CGM	January 2022	$	21,500	+ 2 months	$	21,500


								Extension Options(4)
	Year	Size	Expiration of		Contracted Employment	Charter			Charter
Vessel Name	Built	(TEU)	Charter⁽¹⁾	Charterer	through	Rate⁽³⁾		Period	Rate
Express Argentina	2010	3,400	May 2023	Maersk	May 2023	$	26,500	+ 4 months	$	26,500
Express Brazil	2010	3,400	June 2025	CMA CGM	December 2021	$	15,750
					June 2025	$	37,750	+ 2 months	$	37,750
Express France	2010	3,400	September 2025	CMA CGM	January 2022	$	15,750
					September 2025	$	37,750	+ 2 months	$	37,750
Express Spain	2011	3,400	January 2022	Cosco	January 2022	$	20,400	+ 2 months	$	20,400
Express Black Sea	2011	3,400	January 2022	Cosco	January 2022	$	21,150	+ 2 months	$	21,150
Singapore	2004	3,314	May 2024	SM Lines	December 2021	$	17,100
				OOCL	November 2022	$	44,000
					November 2023	$	38,450
					May 2024	$	21,000	+ 6 months	$	37,000
Colombo	2004	3,314	December 2021	Cosco	December 2021	$	20,400	+ 2 months	$	20,400
Zebra	2001	2,602	November 2024	Evergreen	November 2021	$	15,000
				Maersk	November 2024	$	32,000	+ 4 months	$	32,000
Artotina	2001	2,524	February 2022	SITC	February 2022	$	20,000	+ 2 months	$	20,000
Amalia C	1998	2,452	January 2023	OOCL	July 2021	$	12,200
					January 2023	$	24,000	+ 2 months	$	24,000
Vladivostok	1997	2,200	October 2021	Maersk	October 2021	$	14,000	+ 6 months	$	14,000
Stride	1997	2,200	February 2022	Evergreen	February 2022	$	14,500	+1 month	$	14,500
Sprinter	1997	2,200	December 2021	Evergreen	December 2021	$	14,000	+ 1.5 months	$	14,000
Future	1997	2,200	November 2021	Evergreen	November 2021	$	14,000	+ 2 months	$	14,000
Advance	1997	2,200	January 2022	Evergreen	January 2022	$	14,500	+ 1 month	$	14,500
Bridge	1998	2,200	December 2024	Samudera	June 2022	$	15,000
					December 2024	$	23,000	+ 6 months	$	23,000
Highway	1998	2,200	August 2022	Cosco	August 2022	$	17,000	+ 4 months	$	17,000
Progress C	1998	2,200	December 2021	Evergreen	December 2021	$	14,000	+ 1.5 months	$	14,000


								Extension Options⁽⁴⁾
	Year	Size	Expiration of		Contracted Employment	Charter			Charter
Gemini Vessels ⁽⁸⁾	Built	(TEU)	Charter⁽¹⁾	Charterer	through⁽²⁾	Rate⁽³⁾		Period	Rate
Belita ⁽⁸⁾	2006	8,533	July 2026	CMA CGM	February 2022	$	25,000
					July 2026	$	45,000	+ 6 months	$	45,000
Catherine C ⁽⁸⁾	2001	6,422	January 2023	MSC	January 2023	$	18,000	+ 4 months	$	18,000
Leo C ⁽⁸⁾	2002	6,422	August 2022	MSC	August 2022	$	18,000	+ 4 months	$	18,000
Suez Canal ⁽⁸⁾ ⁽⁹⁾	2002	5,610	March 2023	TS Lines	March 2023	$	30,000	+ 4 months	$	30,000
Genoa ⁽⁸⁾ ⁽⁹⁾	2002	5,544	November 2024	Sealead	November 2021	$	21,000
				PIL	November 2024	$	39,999	+ 4 months	$	39,999
								+ 10 up to 14 months	$	27,500
								+ 10 up to 12 months	$	24,000


								Extension Options (4)
	Year	Size	Expiration of		Contracted Employment	Charter			Charter
Contracted Vessels ⁽¹⁰⁾	Built	(TEU)	Charter⁽¹⁾	Charterer	through⁽²⁾	Rate ⁽³⁾		Period	Rate
Wide Alpha ⁽¹⁰⁾	2014	5,466	March 2024	ONE	March 2024	$	18,500	+ 3 months	$	18,500
Wide Bravo ⁽¹⁰⁾	2014	5,466	March 2022	Maersk	October 2021	$	17,100
					March 2022	$	19,500	+ 3 months	$	19,500
Maersk Euphrates ⁽¹⁰⁾	2014	5,466	April 2024	Maersk	April 2024	$	17,500	+ 4 months	$	17,500
Wide Hotel ⁽¹⁰⁾	2015	5,466	May 2024	ONE	May 2024	$	18,500	+ 3 months	$	18,500
Wide India ⁽¹⁰⁾	2015	5,466	July 2022	Maersk	July 2022	$	19,500	+ 3 months	$	19,500
Wide Juliet ⁽¹⁰⁾	2015	5,466	June 2023	ONE	June 2023	$	19,950	+ 3 months	$	19,950

(1)

Earliest date charters could expire. Most charters include options for the charterers to extend their terms as described in the “Extension Options” column.

(2)

This column indicates the date through which the charter rate set forth in the column to the immediate right of such date is payable. For charters with the same charter rate throughout the fixed term of the charter, this date is the same as the charter expiration date set forth in the “Expiration of Charter” column.

(3)

Gross charter rate, which does not include charter commissions.

(4)

At the option of the charterer.

(5)

A subsidiary of Danaos Corporation holds a leasehold bareboat charter interest in such vessel, pursuant to which such subsidiary will acquire all rights to such vessel at the end of such lease.

(6)

Daily charter rate for last nine months of the contractual charter term will be the prevailing market rate at that time.

(7)

Bareboat charter rate.

(8)

Vessels owned by Gemini Shipholdings Corporation, in which Danaos Corporation held a 49% equity interest through the end of the second quarter of 2021. On July 1, 2021, Danaos Corporation exercised its option to acquire the remaining 51% equity interests in Gemini Shipholdings Corporation and now holds 100%.

(9)

A subsidiary of Gemini Shipholdings Corporation holds a leasehold bareboat charter interest in such vessel, pursuant to which such subsidiary will acquire all rights to such vessel at the end of such lease.

(10)

Danaos Corporation has entered into an agreement to purchase these vessels that will be gradually delivered to the Company from August 10 through October 15, 2021. The charters listed above will continue to be in effect when the vessels are delivered to us.

Forward Looking Statements

Matters discussed in this report may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning our operations, cash flows, financial position, including with respect to vessel and other asset values, plans, objectives, goals, strategies, future events, performance or business prospects, changes and trends in our business and the markets in which we operate, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although Danaos Corporation believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, Danaos Corporation cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the impact of the COVID-19 pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of containerized cargo, the ability and willingness of charterers to fulfill their obligations to us, charter rates for containerships, shipyards performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing; Danaos’ ability to achieve the expected benefits of the 2021 Debt Refinancing and comply with the terms of its new credit facilities and other financing agreements entered into in connection with the 2021 Debt Refinancing, the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by us with the U.S. Securities and Exchange Commission.

INDEX TO FINANCIAL STATEMENTS


Condensed Consolidated Balance Sheets as of June 30, 2021 and December 31, 2020 (unaudited)	F-2

Condensed Consolidated Statements of Income for the Three and Six Months Ended June 30, 2021 and 2020 (unaudited)	F-3

Condensed Consolidated Statements of Comprehensive Income/(Loss) for the Three and Six Months Ended June 30, 2021 and 2020 (unaudited)	F-4

Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Six Months Ended June 30, 2021 and 2020 (unaudited)	F-5

Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2021 and 2020 (unaudited)	F-6

Notes to the Unaudited Condensed Consolidated Financial Statements	F-7

F-1

DANAOS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

(Expressed in thousands of United States Dollars, except share and per share amounts)


		As of
		June 30,		December 31,
	Notes	2021		2020

ASSETS
CURRENT ASSETS
Cash and cash equivalents		$	294,418	$	65,663
Accounts receivable, net			7,112		7,556
Inventories			9,799		9,619
Prepaid expenses			1,222		855
Due from related parties	14		21,326		20,426
Other current assets			14,609		14,329
Total current assets			348,486		118,448
NON-CURRENT ASSETS
Fixed assets at cost, net of accumulated depreciation of $993,858 (2020: $941,960)	3		2,429,647		2,479,937
Deferred charges, net	4		13,440		17,339
Investments in affiliates	5		19,238		15,273
Other non-current assets	6		389,319		83,383
Total non-current assets			2,851,644		2,595,932
Total assets		$	3,200,130	$	2,714,380

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable		$	11,835	$	10,613
Accrued liabilities	7		19,881		10,960
Current portion of long-term debt, net	8		93,450		155,662
Current portion of long-term leaseback obligation, net	3		63,316		24,515
Accumulated accrued interest, current portion			5,854		18,036
Unearned revenue			20,754		19,476
Other current liabilities			13,734		423
Total current liabilities			228,824		239,685

LONG-TERM LIABILITIES
Long-term debt, net	8		1,039,900		1,187,345
Long-term leaseback obligation, net of current portion	3		168,542		95,585
Accumulated accrued interest, net of current portion			27,450		136,433
Unearned revenue, net of current portion			16,187		19,574
Other long-term liabilities			6,034		181
Total long-term liabilities			1,258,113		1,439,118
Total liabilities			1,486,937		1,678,803

Commitments and Contingencies	10		—		—

STOCKHOLDERS’ EQUITY
Preferred stock (par value $0.01, 100,000,000 preferred shares authorized and not issued as of June 30, 2021 and December 31, 2020)	11		—		—
Common stock (par value $0.01, 750,000,000 common shares authorized as of June 30, 2021 and December 31, 2020. 24,938,211 and 24,788,598 shares issued as of June 30, 2021 and December 31, 2020; and 20,598,940 and 20,449,327 shares outstanding as of June 30, 2021 and December 31, 2020)	11		206		204
Additional paid-in capital			760,869		755,390
Accumulated other comprehensive loss	6,9		(73,851)		(86,669)
Retained earnings			1,025,969		366,652
Total stockholders’ equity			1,713,193		1,035,577
Total liabilities and stockholders’ equity		$	3,200,130	$	2,714,380

The accompanying notes are an integral part of these condensed consolidated financial statements.

F-2

DANAOS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited)

(Expressed in thousands of United States Dollars, except share and per share amounts)


		Three months ended				Six months ended
		June 30,				June 30,
	Notes	2021		2020		2021		2020

OPERATING REVENUES	12	$	146,434	$	116,824	$	278,552	$	223,020

OPERATING EXPENSES
Voyage expenses	14		(4,966)		(3,289)		(9,194)		(7,335)
Vessel operating expenses			(32,940)		(28,568)		(64,018)		(54,570)
Depreciation			(26,099)		(25,258)		(51,898)		(49,839)
Amortization of deferred drydocking and special survey costs	4		(2,545)		(2,941)		(5,054)		(5,251)
General and administrative expenses	14		(7,130)		(6,013)		(18,025)		(11,853)
Income From Operations			72,754		50,755		130,363		94,172

OTHER INCOME (EXPENSES):
Interest income			9,531		1,588		11,509		3,302
Interest expense			(18,204)		(13,645)		(33,315)		(29,958)
Gain on investments	6		196,290		—		444,165		—
Gain on debt extinguishment	8		111,616		—		111,616		—
Other finance expenses			(582)		(1,038)		(1,034)		(1,660)
Equity income on investments	5		2,162		1,720		3,965		3,265
Other income, net	10		173		19		4,144		270
Loss on derivatives	9		(903)		(903)		(1,796)		(1,806)
Total Other Income/(Expenses), net			300,083		(12,259)		539,254		(26,587)

Net Income		$	372,837	$	38,496	$	669,617	$	67,585

EARNINGS PER SHARE
Basic earnings per share		$	18.32	$	1.57	$	32.95	$	2.75
Diluted earnings per share		$	18.10	$	1.55	$	32.57	$	2.73
Basic weighted average number of common shares (in thousands)	13		20,354		24,573		20,323		24,573
Diluted weighted average number of common shares (in thousands)	13		20,599		24,789		20,557		24,789

The accompanying notes are an integral part of these condensed consolidated financial statements.

F-3

DANAOS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (unaudited)

(Expressed in thousands of United States Dollars)


		Three months ended				Six months ended
		June 30,				June 30,
	Notes	2021		2020		2021		2020

Net income for the period		$	372,837	$	38,496	$	669,617	$	67,585
Other comprehensive income/(loss):
Unrealized gain/(loss) on available for sale securities	6		130		6,467		19,717		(1,865)
Reclassification to interest income	6		(8,695)		—		(8,695)		—
Amortization of deferred realized losses on cash flow hedges	9		903		903		1,796		1,806
Total Other Comprehensive Income/(Loss)			(7,662)		7,370		12,818		(59)
Comprehensive Income		$	365,175	$	45,866	$	682,435	$	67,526

The accompanying notes are an integral part of these condensed consolidated financial statements

F-4

DANAOS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (unaudited)

(Expressed in thousands of United States Dollars)


	Common Stock					Accumulated
	Number			Additional		other
	of	Par		paid‑in		comprehensive		Retained
	shares	value		capital		loss		earnings		Total
As of December 31, 2019	24,789	$	248	$	785,274	$	(116,934)	$	213,102	$	881,690
Net Income	—		—		—		—		29,089		29,089
Stock compensation	—		—		298		—		—		298
Net movement in other comprehensive income	—		—		—		(7,429)		—		(7,429)
As of March 31, 2020	24,789	$	248	$	785,572	$	(124,363)	$	242,191	$	903,648
Net Income	—		—		—		—		38,496		38,496
Stock compensation	—		—		298		—		—		298
Net movement in other comprehensive income	—		—		—		7,370		—		7,370
As of June 30, 2020	24,789	$	248	$	785,870	$	(116,993)	$	280,687	$	949,812


	Common Stock					Accumulated
	Number			Additional		other
	of	Par		paid‑in		comprehensive		Retained
	shares	value		capital		loss		earnings		Total
As of December 31, 2020	20,449	$	204	$	755,390	$	(86,669)	$	366,652	$	1,035,577
Net Income	—		—		—		—		296,780		296,780
Stock compensation	150		2		4,907		—		—		4,909
Net movement in other comprehensive income	—		—		—		20,480		—		20,480
As of March 31, 2021	20,599	$	206	$	760,297	$	(66,189)	$	663,432	$	1,357,746
Net Income	—		—		—		—		372,837		372,837
Dividends	—		—		—		—		(10,300)		(10,300)
Stock compensation	—		—		570		—		—		570
Issuance of common stock	—		—		2		—		—		2
Net movement in other comprehensive income	—		—		—		(7,662)		—		(7,662)
As of June 30, 2021	20,599	$	206	$	760,869		(73,851)	$	1,025,969	$	1,713,193

The accompanying notes are an integral part of these condensed consolidated financial statements.

F-5

DANAOS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

(Expressed in thousands of United States Dollars)


	Six months ended
	June 30,
	2021		2020

Cash Flows from Operating Activities
Net income	$	669,617	$	67,585

Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		51,898		49,839
Amortization of deferred drydocking and special survey costs		5,054		5,251
Amortization of finance costs		6,218		5,604
Exit fee accrued on debt		149		258
Debt discount amortization		2,590		2,858
PIK interest		726		1,550
Gain on investments		(444,165)		—
Gain on debt extinguishment		(111,616)		—
Payments for drydocking and special survey costs deferred		(1,155)		(13,380)
Amortization of deferred realized losses on interest rate swaps		1,796		1,806
Stock based compensation		5,479		596
Equity income on investments		(3,965)		(3,265)
(Increase)/Decrease in
Accounts receivable		444		(5,407)
Inventories		(180)		(864)
Prepaid expenses		(367)		105
Due from related parties		(900)		(1,864)
Other assets, current and non-current		3,093		1,934
Increase/(Decrease) in
Accounts payable		1,425		5,235
Accrued liabilities		8,921		3,702
Unearned revenue, current and long-term		(2,109)		(4,465)
Other liabilities, current and long-term		(210)		(210)
Net Cash provided by Operating Activities		192,743		116,868

Cash Flows from Investing Activities
Vessels additions and advances		(1,811)		(98,746)
Investments		145,877		(75)
Net Cash provided by/(used in) Investing Activities		144,066		(98,821)

Cash Flows from Financing Activities
Proceeds from long-term debt		1,105,311		23,400
Payments of long-term debt		(1,295,025)		(65,176)
Proceeds from sale-leaseback of vessels		135,000		139,080
Payments of leaseback obligation		(21,175)		(142,065)
Dividends paid		(10,298)		—
Payments of accumulated accrued interest		(7,358)		(15,502)
Finance costs		(14,509)		(11,999)
Net Cash used in Financing Activities		(108,054)		(72,262)

Net Increase/(Decrease) in cash and cash equivalents		228,755		(54,215)
Cash and cash equivalents at beginning of period		65,663		139,170
Cash and cash equivalents at end of period	$	294,418	$	84,955

The accompanying notes are an integral part of these condensed consolidated financial statements.

F-6

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1 Basis of Presentation and General Information

The accompanying condensed consolidated financial statements (unaudited) 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 the Company is the United States Dollar.

Danaos Corporation (“Danaos” or “Company”), 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 11, “Stockholders’ Equity”. 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 that are under the exclusive management of a related party of the Company.

In the opinion of management, the accompanying condensed consolidated financial statements (unaudited) of Danaos and subsidiaries contain all adjustments necessary to state fairly, in all material respects, the Company’s condensed consolidated financial position as of June 30, 2021, the condensed consolidated results of operations for the three and six months ended June 30, 2021 and 2020 and the condensed consolidated cash flows for the six months ended June 30, 2021 and 2020. All such adjustments are deemed to be of a normal, recurring nature. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in Danaos’ Annual Report on Form 20-F for the year ended December 31, 2020. The results of operations for the three and six months ended June 30, 2021, are not necessarily indicative of the results to be expected for the full year. The year-end condensed consolidated balance sheet data was derived from annual financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.

The accompanying condensed consolidated financial statements (unaudited) represent the consolidation of the accounts of the Company and its wholly owned subsidiaries. The subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-consolidated from the date that control ceases. Inter-company transaction balances and unrealized gains on transactions between the companies are eliminated.

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 authoritative guidance under U.S. GAAP. 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. The condensed consolidated financial statements (unaudited) 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 condensed consolidated balance sheets and condensed consolidated statements of income, cash flows and stockholders’ equity at and for each period since their respective incorporation dates. The consolidated companies are referred to as “Danaos,” or “the Company.”

F-7

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

1 Basis of Presentation and General Information (Continued)

As of June 30, 2021, Danaos included the vessel owning companies (the “Danaos Subsidiaries”) listed below. All vessels are container vessels:


Company	Date of Incorporation	Vessel Name	Year 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	Charleston	2005	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	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
Actaea Company Limited	October 14, 2014	Zim Savannah (ex Performance)	2002	6,402
Asteria Shipping Company Limited	October 14, 2014	Dimitra C	2002	6,402
Continent Marine Inc.	March 22, 2006	Zim Monaco	2009	4,253
Medsea Marine Inc.	May 8, 2006	Dalian (ex Zim 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 (ex ANL 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
Trindade Maritime Company	April 10, 2013	Amalia C	1998	2,452
Sarond Shipping Inc.	January 18, 2013	Artotina (ex Danae C)	2001	2,524
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	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

(1)

Twenty-feet equivalent unit, the international standard measure for containers and containership capacity.

F-8

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

1 Basis of Presentation and General Information (Continued)

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.

The Company has evaluated the impact of current economic situation on the recoverability of the carrying amount of its vessels. The Company did not identify any impairment triggers related to its vessels in the six months ended June 30, 2021.

2 Significant Accounting Policies

For a detailed discussion about the Company’s significant accounting policies, see Note 2 “Significant Accounting Policies” in the Company’s consolidated financial statements included in the Annual Report on Form 20-F for the year ended December 31, 2020 filed with the Securities and Exchange Commission on March 4, 2021. During the six months ended June 30, 2021, there were no other significant changes made to the Company’s significant accounting policies.

3 Fixed assets, net

The residual value (estimated scrap value at the end of the vessels’ useful lives) of the fleet was estimated at $428.2 million as of June 30, 2021 and as of December 31, 2020. 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 prices. 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 cyclicality of the 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 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. The carrying value of these vessels amount to $265.6 million as of June 30, 2021.

On April 12, 2021, the Company entered into a sale and leaseback arrangement 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. The carrying value of these vessels amount to $436.5 million as of June 30, 2021.

F-9

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

3 Fixed assets, net (Continued)

The Company should be in compliance with the same financial covenants as required by the Citibank/Natwest $815 million senior secured facility – see Note 8 “Long-Term Debt, net”.

The scheduled aggregate leaseback instalments subsequent to June 30, 2021 are as follows (in thousands):


Instalments due by 12-months period ended:
June 30, 2022	$	74,716
June 30, 2023		68,482
June 30, 2024		77,793
June 30, 2025		7,209
Until April 2026		36,411
Total leaseback instalments		264,611
Less: Imputed interest		(27,396)
Total leaseback obligation		237,215
Less: Deferred finance costs, net		(5,357)
Less: Current leaseback obligation		(63,316)
Leaseback obligation, net of current portion	$	168,542

4 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		1,155
Amortization		(5,054)
As of June 30, 2021	$	13,440

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.

F-10

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

5 Investments in affiliates

In August 2015, an affiliated company Gemini Shipholdings Corporation (“Gemini”) was formed by the Company and Virage International Ltd. (“Virage”), a company controlled by the Company’s largest shareholder. Gemini acquired a 100% interest in entities with capital leases for the Suez Canal and Genoa and that own the container vessels Catherine C and Leo C. In August 2019, an affiliated company of Gemini acquired an 8,533 TEU container vessel built in 2006 renamed to Belita. Gemini financed these acquisitions with the assumption of capital lease obligations of $35.4 million, $30.0 million of borrowings under secured loan facilities and an aggregate of $47.4 million from equity contributions from the Company and Virage, which subscribed in cash for 49% and 51%, respectively, of Gemini’s issued and outstanding share capital. As of June 30, 2021, Gemini consolidated its wholly owned subsidiaries listed below:


		Year		Date of vessel
Company	Vessel Name	Built	TEU	delivery
Averto Shipping S.A.	Suez Canal	2002	5,610	July 20, 2015
Sinoi Marine Ltd.	Genoa	2002	5,544	August 2, 2015
Kingsland International Shipping Limited	Catherine C	2001	6,422	September 21, 2015
Leo Shipping and Trading S.A.	Leo C	2002	6,422	February 4, 2016
Springer Shipping Co.	Belita	2006	8,533	August 26, 2019

The Company has determined that Gemini is a variable interest entity of which the Company is not the primary beneficiary, and as such, this affiliated company is accounted for under the equity method and recorded under “Equity income/(loss) on investments” in the condensed consolidated statements of income. The Company does not guarantee the debt of Gemini and its subsidiaries and has the right to purchase all of the beneficial interest in Gemini that it does not own for fair market value at any time after December 31, 2018, to the extent permitted under its credit facilities. The net assets of Gemini total $39.3 million and $31.2 million as of June 30, 2021 and December 31, 2020, respectively. The Company’s exposure is limited to its share of the net assets of Gemini proportionate to its 49% equity interest in Gemini as of June 30, 2021. On July 1, 2021, the Company exercised its option to acquire the remaining equity interest in Gemini. See Note 15 "Subsequent Events".

A condensed summary of the financial information for equity accounted investments 49% owned by the Company shown on a 100% basis are as follows (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Current assets	$	16,922	$	11,524
Non-current assets	$	70,091	$	69,149
Current liabilities	$	8,603	$	7,585
Non-current liabilities	$	39,151	$	41,920

		Six months ended	Six months ended
	June 30, 2021		June 30, 2020
Net operating revenues	$	17,984	$	16,441
Net income	$	8,091	$	6,664

F-11

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

6 Other Non-current Assets

Other non-current assets consisted of the following (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Available for sale securities:
ZIM notes, net		—	$	43,559
HMM notes, net	$	5,961		19,328
Equity participation ZIM		367,840		75
Other assets		15,518		20,421
Total non-current assets	$	389,319	$	83,383

Equity participation in ZIM and interest bearing unsecured ZIM notes with original maturity in 2023, which consisted of $8.8 million Series 1 Notes and $41.1 million of Series 2 Notes, were obtained after the charter restructuring agreements with ZIM in July 2014. Interest bearing senior unsecured HMM notes consisted of $32.8 million Loan Notes 1 with original maturity in July 2024 and $6.2 million Loan Notes 2 maturing in December 2022, which were obtained after the charter restructuring agreements with HMM in July 2016. See Note 7 “Other Non-current Assets” to the consolidated financial statements in the Annual Report on Form 20-F for the year ended December 31, 2020 for further details.

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 ZIM Series 1 and Series 2 Notes and accrued interest of $6.4 million in June 2021. Additionally, the Company received $19.9 million of mandatory repayment of HMM Loan Notes 1 and accrued interest of $3.0 million in May 2021.

On January 27, 2021, ZIM completed its initial public offering and listing on the New York Stock Exchange of its ordinary shares. Following this offering the Company owned 10,186,950 ordinary shares of ZIM. These shares were recorded at a book value of $75 thousands as of December 31, 2020. In June 2021, the Company sold 2,000,000 of ordinary shares of ZIM resulting in net proceeds of $76.4 million. The remaining shareholding interest of 8,186,950 ordinary shares, which are subject to a lockup agreement with the underwriters of the June 2021 stock sale until September 2021, has been fair valued at $367.8 million as of June 30, 2021, based on the closing price of ZIM ordinary shares on the NYSE on that date. For the six months ended June 30, 2021, the Company recognized $444.2 million of gain on these shares, of which $367.8 million is unrealized gain related to the ZIM ordinary shares still held on June 30, 2021 and is reflected under “Gain on investments” in the condensed consolidated statement of income.

Remaining HMM unsecured debt securities are not publicly traded, are infrequently traded over the counter by certain brokers and have no readily determinable market value or credit ratings. The unrealized loss in the prior years was primarily caused by challenging business environment faced by container shipping industry, which affected profitability and liquidity of HMM. The financial results and financial position of HMM have significantly improved in the recent months. The Company collects rentals on the Company’s vessels leased to HMM and the mandatory repayments of the notes on a regular basis, in accordance with the contractual agreements. The contractual terms of HMM debt securities do not permit HMM to settle the debt securities at a price less than the amortized cost basis on the investments. The Company currently does not expect HMM to settle the remaining debt securities at a price less than the amortized cost basis of the investments. The Company does not intend to sell HMM debt securities and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis.

F-12

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

6 Other Non-current Assets (Continued)

The following tables summarizes the unrealized positions for available-for-sale debt securities as of June 30, 2021 and December 31, 2020 (in thousands):


	Amortized cost				Unrealized
Description of securities	basis		Fair value		gain/(loss)
June 30, 2021
HMM Notes 2	$	6,530	$	5,961	$	(569)

December 31, 2020
ZIM notes	$	49,871	$	43,559	$	(6,312)
HMM notes		24,607		19,328		(5,279)
Total	$	74,478	$	62,887	$	(11,591)

The unrealized gain/(loss), which were recognized in other comprehensive income/(loss), are analyzed as follows as of June 30, 2021 (in thousands):


	Unrealized gain/(loss)
	on available for
	sale securities
Beginning balance as of January 1, 2021	$	(11,591)
Unrealized gain on available for sale securities		19,717
Reclassification to interest income		(8,695)
Ending balance as of June 30, 2021	$	(569)

Other assets mainly include non-current assets related to straight-lining of the Company’s revenue amounting to $15.5 million and $20.0 million as of June 30, 2021 and December 31, 2020, respectively.

7 Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Accrued payroll	$	965	$	1,008
Accrued interest		13,438		2,137
Accrued dry-docking expenses		—		2,177
Accrued expenses		5,478		5,638
Total	$	19,881	$	10,960

Accrued expenses mainly consisted of accruals related to the operation of the Company’s fleet as of June 30, 2021 and December 31, 2020.

F-13

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

8 Long-Term Debt, net

Long-term debt, net consisted of the following (in thousands):


	Balance as of		Balance as of
Credit Facility	June 30, 2021		December 31, 2020
Citibank/Natwest $815 mil. Facility	$	815,000		—
Senior unsecured notes		300,000		—
Macquarie Bank $58 mil. Facility		50,800	$	56,000
SinoPac $13.3 mil. Facility		11,800		12,800
Fair value of debt adjustment		(11,714)		(14,304)
The Royal Bank of Scotland $475.5 mil. Facility		—		433,412
HSH Nordbank AG - Aegean Baltic Bank - Piraeus Bank $382.5 mil. Facility		—		351,759
Citibank $114 mil. Facility		—		63,061
Credit Suisse $171.8 mil. Facility		—		101,254
Citibank – Eurobank $37.6 mil. Facility		—		17,669
Club Facility $206.2 mil.		—		124,427
Sinosure Cexim - Citibank - ABN Amro $203.4 mil. Facility		—		20,340
Citibank $123.9 mil. Facility		—		85,280
Citibank $120 mil. Facility		—		93,742
Comprehensive Financing Plan exit fees accrued		—		22,660
Total long-term debt	$	1,165,886	$	1,368,100
Less: Deferred finance costs, net		(32,536)		(25,093)
Less: Current portion		(93,450)		(155,662)
Total long-term debt net of current portion and deferred finance cost	$	1,039,900	$	1,187,345

On April 12, 2021, the Company consummated the refinancing of the 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 from the $300 million Senior Notes, to refinance the existing facilities. The Citibank/Natwest $815 million senior secured credit facility with four-year term is 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 bears 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 and CMA CGM Bianca previously mortgaged by this facility, together with CMA CGM Melisande and CMA CGM Attila, were refinanced through a new $135 million sale and leaseback arrangement with Oriental Fleet International Company Limited on April 12, 2021. Refer to Note 3 “Fixed Assets, net”.

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. 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 new effective interest method.

F-14

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

8 Long-Term Debt, net (Continued)

Net proceeds from the senior unsecured notes amounting to $294.4 million were placed in an escrow account in February 2021 and on April 12, 2021 were used, together with the net proceeds from the $815 million credit facility and the $135 new sale and leaseback arrangement to refinance the Company’s 2018 Credit Facilities.

As of June 30, 2021, there was no remaining borrowing availability under the Company’s credit facilities. The Company was in compliance with the financial covenants contained in the credit facilities agreements as of June 30, 2021 and December 31, 2020.

As of June 30, 2021, each of the secured credit facilities is 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. As of June 30, 2021, fifty-three of the Company’s vessels, excluding the Hyundai Honour, Hyundai Respect, CMA CGM Melisande, CMA CGM Attila, CMA CGM Tancredi, CMA CGM Bianca and CMA CGM Samson having a net carrying value of $1,727.6 million, were subject to first preferred mortgages as collateral to the Company’s secured credit facilities.

The scheduled debt maturities of long-term debt subsequent to June 30, 2021 are as follows (in thousands):


	Principal
Payments due by period ended	repayments
June 30, 2022	$	93,450
June 30, 2023		90,000
June 30, 2024		87,900
June 30, 2025		586,750
June 30, 2026		19,500
Thereafter		300,000
Total long-term debt	$	1,177,600

The Citibank/Natwest $815 million senior secured credit facility contains a requirement to maintain minimum fair market value of collateral vessels to loan value coverage of 120% and financial covenants requiring to maintain the following:

(i)

minimum liquidity of $30.0 million;

(ii)

maximum consolidated debt (less cash and cash equivalents) to consolidated EBITDA ratio of 6.5x; and

(iii)

minimum consolidated EBITDA to net interest expense ratio of 2.5x.

The Macquarie Bank credit facilities’ financial covenants were amended requiring to maintain the same financial covenants as the Citibank/Natwest $815 million senior secured credit facility.

Accounting for the 2021 Refinancing

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 2018 Credit Facilities were fully repaid and accounted for under the extinguishment accounting.

F-15

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

8 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 2018 Credit Facilities and are payable in eight quarterly instalments. An amount of $6.0 million is presented under “Other current liabilities” and $6.0 million under “Other long-term liabilities” as of June 30, 2021.

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 will continue to be recognized in the income statement over the remaining life of the original loan as the future interest is paid. The 2021 Refinancing resulted in a total net gain on debt extinguishment of $111.6 million recognized in the income statement in the period ended June 30, 2021.

9 Financial Instruments

The principal financial assets of the Company consist of cash and cash equivalents, trade receivables, equity participation in ZIM and other assets. The principal financial liabilities of the Company consist of long-term bank loans. The following is a summary of the Company’s risk management strategies and the effect of these strategies on the Company’s condensed consolidated financial statements.

Interest Rate Risk: Interest rate risk arises on bank borrowings. The Company monitors the interest rate on borrowings closely to ensure that the borrowings are maintained at favorable rates.

Concentration of Credit Risk: Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and trade accounts receivable. The Company places its temporary cash investments, consisting mostly of deposits, with established financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. The Company is exposed to credit risk in the event of non-performance by counterparties, however, the Company limits this exposure by diversifying among counterparties with high credit ratings. The Company depends upon a limited number of customers for a large part of its revenues. Credit risk with respect to trade accounts receivable is generally managed by the selection of customers among the major liner companies in the world and their dispersion across many geographic areas.

F-16

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

9 Financial Instruments (Continued)

Fair Value: The carrying amounts reflected in the accompanying consolidated balance sheets of financial assets and liabilities (excluding long-term bank loans and certain other non-current assets) approximate their respective fair values due to the short maturity of these instruments. The fair values of long-term floating rate bank loans approximate the recorded values, generally due to their variable interest rates. The fair value of available for sale securities is estimated based on 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 fair value of the equity participation in ZIM is measured based on the closing price of ZIM ordinary shares on the NYSE. The Company is exposed to changes in fair value of available for sale securities as there is no hedging strategy.

a. Interest Rate Swap Hedges

The Company currently has no outstanding interest rate swaps agreements. However, in the past years, the Company entered into interest rate swap agreements with its lenders in order to manage its floating rate exposure. Certain variable-rate interests on specific borrowings were associated with vessels under construction and were capitalized as a cost of the specific vessels. In accordance with the accounting guidance on derivatives and hedging, the amounts related to realized gains or losses on cash flow hedges that have been entered into and qualified for hedge accounting, in order to hedge the variability of that interest, were recognized in accumulated other comprehensive loss and are reclassified into earnings over the depreciable life of the constructed asset, since that depreciable life coincides with the amortization period for the capitalized interest cost on the debt. An amount of $1.8 million was reclassified into earnings for the six months ended June 30, 2021 and 2020, representing its amortization over the depreciable life of the vessels. An amount of $3.6 million is expected to be reclassified into earnings within the next 12 months.

b. Fair Value of Financial Instruments

The Company determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy.

Level I: Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation of these items does not entail a significant amount of judgment.

Level II: Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.

Level III: Inputs that are unobservable. The Company did not use any Level 3 inputs as of June 30, 2021 and December 31, 2020.

F-17

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

9 Financial Instruments (Continued)

The estimated fair values of the Company’s financial instruments are as follows:


	As of June 30, 2021				As of December 31, 2020
	Book Value		Fair Value		Book Value		Fair Value

	(in thousands of $)
Cash and cash equivalents	$	294,418	$	294,418	$	65,663	$	65,663
ZIM notes	$	—	$	—	$	43,559	$	43,559
HMM notes	$	5,961	$	5,961	$	19,328	$	19,328
Equity participation ZIM	$	367,840	$	367,840	$	75		n/a*
Long-term debt, including current portion	$	1,165,886	$	1,165,886	$	1,368,100	$	1,368,100

As of December 31, 2020, there was no readily determinable fair value.

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 June 30, 2021:


	Fair Value Measurements as of June 30, 2021
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
HMM notes(1)	$	5,961	$	—	$	5,961	$	—
Equity participation ZIM	$	367,840	$	367,840	$	—	$	—

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 June 30, 2021:


	Fair Value Measurements as of June 30, 2021
	Total		(Level I)		(Level II)		(Level III)

		(in thousands of $)
Long-term debt, including current portion(2)	$	1,165,886	$	—	$	1,165,886	$	—

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, 2020:


	Fair Value Measurements as of December 31, 2020
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
ZIM notes(1)	$	43,559	$	—	$	43,559	$	—
HMM notes(1)	$	19,328	$	—	$	19,328	$	—

F-18

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

9 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, 2020:


	Fair Value Measurements as of December 31, 2020
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
Long-term debt, including current portion(2)	$	1,368,100	$	—	$	1,368,100	$	—

(1)

The fair value 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.

(2)

Long-term debt, including current portion is presented gross of deferred finance costs of $32.5 million and $25.1 million as of June 30, 2021 and December 31, 2020, respectively. The fair value of the Company’s debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities, as well as taking into account its increased credit risk and does not include amounts related to the accumulated accrued interest.

10 Commitments and Contingencies

There are no 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. Furthermore, the Company does not have any outstanding commitments. On January 20, 2021, the Company received $3.9 million from Hanjin Shipping as a partial payment of a common benefit claim plus interest. See the Note 3 “Fixed Assets, Net” for buyback obligations related to the sale and leaseback arrangements.

11 Stockholders’ Equity

On May 10, 2021, the Company declared a dividend of $0.50 per share of common stock for the first quarter of 2021, which was paid on June 9, 2021 to stockholders of record as of May 27, 2021.

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.

As of April 18, 2008, the Board of Directors and the Compensation Committee approved incentive compensation of the Manager’s employees with its 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.

F-19

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

11 Stockholders’ Equity (Continued)

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 are scheduled to vest 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. On February 12, 2021, the Company granted 110,000 fully vested shares to executive officers and Board of Directors members and 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, 10,000 restricted shares are scheduled to vest on December 31, 2021 and the remaining 20,000 restricted shares are scheduled to vest on December 31, 2022. In 2020, 714 shares were forfeited, in 2021 414 shares were forfeited and 65,760 restricted shares are scheduled to vest on December 31, 2021. These restricted shares are subject to satisfaction of the vesting terms, under the Company’s 2006 Equity Compensation Plan, as amended. 245,148 shares and 215,562 shares of restricted stock are issued and outstanding as of June 30, 2021 and December 31, 2020, respectively.

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 the six months ended June 30, 2021 and June 30, 2020, none of the directors elected to receive their compensation in Company shares.

12 Lease Arrangements

Charters-out

As of June 30, 2021, the Company generated operating revenues from its 60 vessels on time charters or bareboat charter agreements, with remaining terms ranging from less than one year to April 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.

F-20

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

12 Lease Arrangements (Continued)

The future minimum rentals, expected to be earned on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of June 30, 2021 (in thousands):


Remainder of 2021	$	303,599
2022		548,859
2023		356,293
2024		161,609
2025		75,483
2026 and thereafter		50,014
Total future rentals	$	1,495,857

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.

13 Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:


	Three months ended
	June 30, 2021		June 30, 2020

	(in thousands)
Numerator:
Net income	$	372,837	$	38,496

Denominator (number of shares in thousands):
Basic weighted average common shares outstanding		20,354		24,573
Effect of dilutive securities:
Share based compensation		245		216
Diluted weighted average common shares outstanding		20,599		24,789


	Six months ended
	June 30, 2021		June 30, 2020

	(in thousands)
Numerator:
Net income	$	669,617	$	67,585

Denominator (number of shares in thousands):
Basic weighted average common shares outstanding		20,323		24,573
Effect of dilutive securities:
Share based compensation		234		216
Diluted weighted average common shares outstanding		20,557		24,789

F-21

DANAOS CORPORATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

14 Related Party Transactions

Management fees to Danaos Shipping Company Limited (“the Manager”) amounted to $9.2 million and $8.6 million in the six months ended June 30, 2021 and 2020, respectively, and are presented under “General and administrative expenses” in the condensed consolidated statements of income. The Company has granted restricted stock to executive officers, Board of Directors members and certain employees of the Manager. Refer to Note 11 “Stockholders' Equity”.

Commissions to the Manager amounted to $3.5 million and $2.7 million in the six months ended June 30, 2021 and 2020, respectively and are presented under “Voyage expenses” in the condensed consolidated statements of income.

The balance “Due from related parties” in the condensed consolidated balance sheets totaling $21.3 million and $20.4 million as of June 30, 2021 and December 31, 2020, respectively, represents advances to the Manager on account of the vessels’ operating and other expenses. An amount of $0.3 million and $0.2 million as of June 30, 2021 and December 31, 2020, respectively, was due to executive officers and is presented under “Accounts payable” in the condensed consolidated balance sheets.

15 Subsequent Events

On July 1, 2021, the Company exercised its option to acquire the remaining equity interest in Gemini. The purchase price for the 51% of Gemini is $86.7 million in cash. Substantially all of the fair value of the gross assets acquired is concentrated in adjusted vessels value, the Company will therefore account for the acquisition of the five vessels of Gemini as an asset acquisition.

On July 7, 2021, the Company entered into an agreement to acquire six 5,500 TEU vessels for a gross purchase price amounting to $260.0 million. These vessels are expected to be delivered to the Company from August to October 2021.

On August 2, 2021, the Company declared a dividend of $0.50 per share of common stock payable on August 30, 2021, to holders of record on August 16, 2021.

F-22

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1 Basis of Presentation and General InformationThe accompanying condensed consolidated financial statements (unaudited) 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 the Company is the United States Dollar.Danaos Corporation (“Danaos” or “Company”), 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 11, “Stockholders’ Equity”. 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 that are under the exclusive management of a related party of the Company.In the opinion of management, the accompanying condensed consolidated financial statements (unaudited) of Danaos and subsidiaries contain all adjustments necessary to state fairly, in all material respects, the Company’s condensed consolidated financial position as of June 30, 2021, the condensed consolidated results of operations for the three and six months ended June 30, 2021 and 2020 and the condensed consolidated cash flows for the six months ended June 30, 2021 and 2020. All such adjustments are deemed to be of a normal, recurring nature. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in Danaos’ Annual Report on Form 20-F for the year ended December 31, 2020. The results of operations for the three and six months ended June 30, 2021, are not necessarily indicative of the results to be expected for the full year. The year-end condensed consolidated balance sheet data was derived from annual financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.The accompanying condensed consolidated financial statements (unaudited) represent the consolidation of the accounts of the Company and its wholly owned subsidiaries. The subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-consolidated from the date that control ceases. Inter-company transaction balances and unrealized gains on transactions between the companies are eliminated.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 authoritative guidance under U.S. GAAP. 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. The condensed consolidated financial statements (unaudited) 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 condensed consolidated balance sheets and condensed consolidated statements of income, cash flows and stockholders’ equity at and for each period since their respective incorporation dates. The consolidated companies are referred to as “Danaos,” or “the Company.”1 Basis of Presentation and General Information (Continued)As of June 30, 2021, Danaos included the vessel owning companies (the “Danaos Subsidiaries”) listed below. All vessels are container vessels:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:30.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:30.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Company</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Incorporation</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vessel Name</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Built</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">TEU (1)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 1) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Honour</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 2) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Respect </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 3) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Smart</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 4) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Speed</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 5) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Hyundai Ambition</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 6) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Berlin</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 10,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 7) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 31, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Rome</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 10,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 8) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Athens</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 10,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Karlita Shipping Co. Ltd.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">February 27, 2003</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Pusan C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,580</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Ramona Marine Co. Ltd.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">February 27, 2003</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Le Havre</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,580</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceancarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 15, 2020 </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Bremen</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,012</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceancarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 15, 2020 </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">C Hamburg</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,012</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Blackwell Seaways Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 9, 2020</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Niledutch Lion</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,626</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceancarrier (No.1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">February 19, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Charleston</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,533</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 5) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 17, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Melisande</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Attila</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Tancredi</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Bianca</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 4) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Samson</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceanew Shipping Ltd.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 14, 2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Europe</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,468</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceanprize Navigation Ltd.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 21, 2003</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">America</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,468</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Rewarding International Shipping Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 1, 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Phoebe</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:8.94%;margin:0pt;padding:0pt;"> 8,463</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Musset</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Nerval</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 4) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Rabelais</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 5) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Racine</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 1) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Moliere</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Expresscarrier (No. 1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 5, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">YM Mandate</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Expresscarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 5, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">YM Maturity</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Actaea Company Limited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 14, 2014</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Zim Savannah (ex Performance)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,402</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Asteria Shipping Company Limited</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 14, 2014</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Dimitra C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2002</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,402</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Continent Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Monaco</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Medsea Marine Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 8, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Dalian (ex Zim Dalian)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Blacksea Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 8, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Luanda</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Bayview Shipping Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Rio Grande</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Channelview Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Sao Paolo</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Balticsea Marine Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Kingston</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Seacarriers Services Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Seattle C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Seacarriers Lines Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2005</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Vancouver</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Containers Services Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 30, 2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Tongala (ex ANL Tongala)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Containers Lines Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 30, 2002</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Derby D</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boulevard Shiptrade S.A</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 12, 2013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Dimitris C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,430</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 4) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Spain</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 5) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Black Sea</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 1) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Argentina</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 2) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Brazil</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 3) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express France</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Wellington Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 27, 2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Singapore </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,314</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Auckland Marine Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 27, 2005</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Colombo</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,314</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Vilos Navigation Company Ltd.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 30, 2013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zebra</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,602</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Trindade Maritime Company</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">April 10, 2013</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Amalia C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,452</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Sarond Shipping Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 18, 2013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Artotina (ex Danae C)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,524</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 7) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">December 6, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Highway</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 6) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">December 6, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Progress C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 8) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">December 6, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Bridge</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Vladivostok</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Advance</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Stride</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 5) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Future </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 4) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Sprinter </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:17.85pt;padding:0pt;">(1)</td><td style="padding:0pt;">Twenty-feet equivalent unit, the international standard measure for containers and containership capacity.</td></tr></table>1 Basis of Presentation and General Information (Continued)Impact of COVID-19 on the Company's BusinessThe 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.The Company has evaluated the impact of current economic situation on the recoverability of the carrying amount of its vessels. The Company did not identify any impairment triggers related to its vessels in the six months ended June 30, 2021.

750000000

0.01

100000000

0.01

1 Basis of Presentation and General Information (Continued)As of June 30, 2021, Danaos included the vessel owning companies (the “Danaos Subsidiaries”) listed below. All vessels are container vessels:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:30.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:30.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Company</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Incorporation</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vessel Name</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Built</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">TEU (1)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 1) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Honour</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 2) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Respect </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 3) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Smart</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 4) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Hyundai Speed</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Megacarrier (No. 5) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 10, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Hyundai Ambition</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 13,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 6) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Berlin</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 10,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 7) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 31, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Rome</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 10,100</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 8) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Athens</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 10,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Karlita Shipping Co. Ltd.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">February 27, 2003</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Pusan C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,580</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Ramona Marine Co. Ltd.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">February 27, 2003</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Le Havre</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,580</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceancarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 15, 2020 </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Bremen</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,012</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceancarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 15, 2020 </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">C Hamburg</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 9,012</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Blackwell Seaways Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 9, 2020</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Niledutch Lion</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,626</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceancarrier (No.1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">February 19, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Charleston</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,533</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 5) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 17, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Melisande</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2012</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Attila</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Tancredi</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Bianca</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Teucarrier (No. 4) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 31, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Samson</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,530</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceanew Shipping Ltd.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 14, 2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Europe</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,468</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Oceanprize Navigation Ltd.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 21, 2003</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">America</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 8,468</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Rewarding International Shipping Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 1, 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Phoebe</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:8.94%;margin:0pt;padding:0pt;"> 8,463</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Musset</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Nerval</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 4) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Rabelais</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 5) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Racine</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boxcarrier (No. 1) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 27, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">CMA CGM Moliere</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Expresscarrier (No. 1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 5, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">YM Mandate</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Expresscarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 5, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">YM Maturity</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,500</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Actaea Company Limited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 14, 2014</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Zim Savannah (ex Performance)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,402</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Asteria Shipping Company Limited</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">October 14, 2014</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;">Dimitra C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2002</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 6,402</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Continent Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Monaco</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Medsea Marine Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 8, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Dalian (ex Zim Dalian)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Blacksea Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 8, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Luanda</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2009</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Bayview Shipping Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Rio Grande</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Channelview Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Sao Paolo</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Balticsea Marine Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 22, 2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zim Kingston</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2008</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Seacarriers Services Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Seattle C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Seacarriers Lines Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2005</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Vancouver</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Containers Services Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 30, 2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Tongala (ex ANL Tongala)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Containers Lines Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 30, 2002</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Derby D</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 4,253</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Boulevard Shiptrade S.A</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">September 12, 2013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Dimitris C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,430</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 4) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Spain</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 5) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Black Sea</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2011</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 1) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Argentina</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 2) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express Brazil</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">CellContainer (No. 3) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">March 23, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Express France</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2010</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,400</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Wellington Marine Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 27, 2005</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Singapore </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,314</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Auckland Marine Inc.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 27, 2005</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Colombo</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2004</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 3,314</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Vilos Navigation Company Ltd.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">May 30, 2013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Zebra</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,602</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Trindade Maritime Company</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">April 10, 2013</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Amalia C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,452</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Sarond Shipping Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">January 18, 2013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Artotina (ex Danae C)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">2001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,524</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 7) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">December 6, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Highway</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 6) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">December 6, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Progress C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 8) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">December 6, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Bridge</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1998</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 1) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Vladivostok</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 2) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Advance</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 3) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Stride</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 5) Corp.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Future </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr><tr><td style="vertical-align:top;width:30.06%;margin:0pt;padding:0pt;">Speedcarrier (No. 4) Corp.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.21%;margin:0pt;padding:0pt;">June 28, 2007</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:25.18%;margin:0pt;padding:0pt;">Sprinter </td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;">1997</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.94%;margin:0pt;padding:0pt;"> 2,200</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:17.85pt;padding:0pt;">(1)</td><td style="padding:0pt;">Twenty-feet equivalent unit, the international standard measure for containers and containership capacity.</td></tr></table> 13100 13100 13100 13100 13100 10100 10100 10100 9580 9580 9012 9012 8626 8533 8530 8530 8530 8530 8530 8468 8468 8463 6500 6500 6500 6500 6500 6500 6500 6402 6402 4253 4253 4253 4253 4253 4253 4253 4253 4253 4253 3430 3400 3400 3400 3400 3400 3314 3314 2602 2452 2524 2200 2200 2200 2200 2200 2200 2200 2200

2 Significant Accounting PoliciesFor a detailed discussion about the Company’s significant accounting policies, see Note 2 “Significant Accounting Policies” in the Company’s consolidated financial statements included in the Annual Report on Form 20-F for the year ended December 31, 2020 filed with the Securities and Exchange Commission on March 4, 2021. During the six months ended June 30, 2021, there were no other significant changes made to the Company’s significant accounting policies.

3 Fixed assets, netThe residual value (estimated scrap value at the end of the vessels’ useful lives) of the fleet was estimated at $428.2 million as of June 30, 2021 and as of December 31, 2020. 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 prices. 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 cyclicality of the 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 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. The carrying value of these vessels amount to $265.6 million as of June 30, 2021.On April 12, 2021, the Company entered into a sale and leaseback arrangement 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. The carrying value of these vessels amount to $436.5 million as of June 30, 2021.3 Fixed assets, net (Continued)The Company should be in compliance with the same financial covenants as required by the Citibank/Natwest $815 million senior secured facility – see Note 8 “Long-Term Debt, net”.The scheduled aggregate leaseback instalments subsequent to June 30, 2021 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Instalments due by 12-months period ended:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 74,716</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2023</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 68,482</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 77,793</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 7,209</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Until April 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 36,411</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Total leaseback instalments</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 264,611</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Less: Imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27,396)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Total leaseback obligation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 237,215</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Less: Deferred finance costs, net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> (5,357)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Less: Current leaseback obligation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (63,316)</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Leaseback obligation, net of current portion</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 168,542</td></tr></table>

428200000

P10Y P5Y 300 300

139100000

P4Y 36000000.0

265600000

135000000.0

P5Y 31000000.0

436500000

815000000

The scheduled aggregate leaseback instalments subsequent to June 30, 2021 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Instalments due by 12-months period ended:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 74,716</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2023</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 68,482</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 77,793</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 7,209</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Until April 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 36,411</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Total leaseback instalments</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 264,611</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Less: Imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27,396)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Total leaseback obligation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 237,215</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Less: Deferred finance costs, net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> (5,357)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Less: Current leaseback obligation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (63,316)</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Leaseback obligation, net of current portion</td><td style="vertical-align:bottom;white-space:nowrap;width:2.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 168,542</td></tr></table>

74716000 68482000 77793000 7209000 36411000 264611000 27396000 237215000 5357000 63316000 168542000 4 Deferred Charges, netDeferred charges, net consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:79.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.32%;margin:0pt;padding:0pt;">Drydocking and</td></tr><tr><td style="vertical-align:bottom;width:79.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Special Survey Costs</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">As of January 1, 2020</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 11,455</td></tr><tr><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Additions</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 16,916</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Amortization</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (11,032)</td></tr><tr><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">As of December 31, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 17,339</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Additions</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 1,155</td></tr><tr><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,054)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">As of June 30, 2021</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,440</td></tr></table>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. Deferred charges, net consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:79.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.32%;margin:0pt;padding:0pt;">Drydocking and</td></tr><tr><td style="vertical-align:bottom;width:79.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Special Survey Costs</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">As of January 1, 2020</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 11,455</td></tr><tr><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Additions</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 16,916</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Amortization</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (11,032)</td></tr><tr><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">As of December 31, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 17,339</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Additions</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 1,155</td></tr><tr><td style="vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,054)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:79.61%;margin:0pt;padding:0pt;">As of June 30, 2021</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,440</td></tr></table>

11455000

16916000 11032000

17339000

1155000 5054000

13440000

5 Investments in affiliatesIn August 2015, an affiliated company Gemini Shipholdings Corporation (“Gemini”) was formed by the Company and Virage International Ltd. (“Virage”), a company controlled by the Company’s largest shareholder. Gemini acquired a 100% interest in entities with capital leases for the Suez Canal and Genoa and that own the container vessels Catherine C and Leo C. In August 2019, an affiliated company of Gemini acquired an 8,533 TEU container vessel built in 2006 renamed to Belita. Gemini financed these acquisitions with the assumption of capital lease obligations of $35.4 million, $30.0 million of borrowings under secured loan facilities and an aggregate of $47.4 million from equity contributions from the Company and Virage, which subscribed in cash for 49% and 51%, respectively, of Gemini’s issued and outstanding share capital. As of June 30, 2021, Gemini consolidated its wholly owned subsidiaries listed below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">Year</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">Date of vessel</td></tr><tr><td style="vertical-align:bottom;width:31.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Company</td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vessel Name</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Built</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">TEU</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">delivery</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Averto Shipping S.A.</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Suez Canal</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2002</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 5,610</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">July 20, 2015</td></tr><tr><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Sinoi Marine Ltd.</td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Genoa</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 5,544</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">August 2, 2015</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Kingsland International Shipping Limited</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Catherine C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2001</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 6,422</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">September 21, 2015</td></tr><tr><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Leo Shipping and Trading S.A.</td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Leo C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 6,422</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">February 4, 2016</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:31.75%;margin:0pt;padding:0pt;">Springer Shipping Co.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Belita</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 8,533</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">August 26, 2019</td></tr></table>The Company has determined that Gemini is a variable interest entity of which the Company is not the primary beneficiary, and as such, this affiliated company is accounted for under the equity method and recorded under “Equity income/(loss) on investments” in the condensed consolidated statements of income. The Company does not guarantee the debt of Gemini and its subsidiaries and has the right to purchase all of the beneficial interest in Gemini that it does not own for fair market value at any time after December 31, 2018, to the extent permitted under its credit facilities. The net assets of Gemini total $39.3 million and $31.2 million as of June 30, 2021 and December 31, 2020, respectively. The Company’s exposure is limited to its share of the net assets of Gemini proportionate to its 49% equity interest in Gemini as of June 30, 2021. On July 1, 2021, the Company exercised its option to acquire the remaining equity interest in Gemini. See Note 15 "Subsequent Events".A condensed summary of the financial information for equity accounted investments 49% owned by the Company shown on a 100% basis are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.88%;margin:0pt;padding:0pt;">As of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Current assets</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 16,922</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 11,524</td></tr><tr><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Non-current assets</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 70,091</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 69,149</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Current liabilities</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 8,603</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 7,585</td></tr><tr><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Non-current liabilities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 39,151</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 41,920</td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;">Six months ended </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">Six months ended </td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Net operating revenues</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 17,984</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 16,441</td></tr><tr><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Net income</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 8,091</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 6,664</td></tr></table>

8533 35400000

30000000.0

47400000

0.49

0.51

As of June 30, 2021, Gemini consolidated its wholly owned subsidiaries listed below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">Year</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">Date of vessel</td></tr><tr><td style="vertical-align:bottom;width:31.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Company</td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vessel Name</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Built</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">TEU</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">delivery</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Averto Shipping S.A.</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Suez Canal</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2002</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 5,610</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">July 20, 2015</td></tr><tr><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Sinoi Marine Ltd.</td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Genoa</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 5,544</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">August 2, 2015</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Kingsland International Shipping Limited</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Catherine C</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2001</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 6,422</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">September 21, 2015</td></tr><tr><td style="vertical-align:bottom;width:31.75%;margin:0pt;padding:0pt;">Leo Shipping and Trading S.A.</td><td style="vertical-align:bottom;width:2.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Leo C</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 6,422</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">February 4, 2016</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:31.75%;margin:0pt;padding:0pt;">Springer Shipping Co.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.88%;margin:0pt;padding:0pt;">Belita</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;">2006</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:8.64%;margin:0pt;padding:0pt;"> 8,533</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:18.4%;margin:0pt;padding:0pt;">August 26, 2019</td></tr></table> 5610 5544 6422 6422 8533

39300000

31200000

0.49

A condensed summary of the financial information for equity accounted investments 49% owned by the Company shown on a 100% basis are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.88%;margin:0pt;padding:0pt;">As of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Current assets</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 16,922</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 11,524</td></tr><tr><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Non-current assets</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 70,091</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 69,149</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Current liabilities</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 8,603</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 7,585</td></tr><tr><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Non-current liabilities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 39,151</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 41,920</td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;">Six months ended </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">Six months ended </td></tr><tr><td style="vertical-align:bottom;width:62.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Net operating revenues</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 17,984</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 16,441</td></tr><tr><td style="vertical-align:top;width:62.33%;margin:0pt;padding:0pt;">Net income</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.59%;margin:0pt;padding:0pt;"> 8,091</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 6,664</td></tr></table>

0.49

16922000

11524000

70091000

69149000

8603000

7585000

39151000

41920000

17984000

16441000

8091000

6664000

6 Other Non-current AssetsOther non-current assets consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;margin:0pt;padding:0pt;">As of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Available for sale securities:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">ZIM notes, net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 43,559</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">HMM notes, net</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 19,328</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Equity participation ZIM</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 75</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Other assets</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 15,518</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 20,421</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Total non-current assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 389,319</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 83,383</td></tr></table>Equity participation in ZIM and interest bearing unsecured ZIM notes with original maturity in 2023, which consisted of $8.8 million Series 1 Notes and $41.1 million of Series 2 Notes, were obtained after the charter restructuring agreements with ZIM in July 2014. Interest bearing senior unsecured HMM notes consisted of $32.8 million Loan Notes 1 with original maturity in July 2024 and $6.2 million Loan Notes 2 maturing in December 2022, which were obtained after the charter restructuring agreements with HMM in July 2016. See Note 7 “Other Non-current Assets” to the consolidated financial statements in the Annual Report on Form 20-F for the year ended December 31, 2020 for further details.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 ZIM Series 1 and Series 2 Notes and accrued interest of $6.4 million in June 2021. Additionally, the Company received $19.9 million of mandatory repayment of HMM Loan Notes 1 and accrued interest of $3.0 million in May 2021.On January 27, 2021, ZIM completed its initial public offering and listing on the New York Stock Exchange of its ordinary shares. Following this offering the Company owned 10,186,950 ordinary shares of ZIM. These shares were recorded at a book value of $75 thousands as of December 31, 2020. In June 2021, the Company sold 2,000,000 of ordinary shares of ZIM resulting in net proceeds of $76.4 million. The remaining shareholding interest of 8,186,950 ordinary shares, which are subject to a lockup agreement with the underwriters of the June 2021 stock sale until September 2021, has been fair valued at $367.8 million as of June 30, 2021, based on the closing price of ZIM ordinary shares on the NYSE on that date. For the six months ended June 30, 2021, the Company recognized $444.2 million of gain on these shares, of which $367.8 million is unrealized gain related to the ZIM ordinary shares still held on June 30, 2021 and is reflected under “Gain on investments” in the condensed consolidated statement of income. Remaining HMM unsecured debt securities are not publicly traded, are infrequently traded over the counter by certain brokers and have no readily determinable market value or credit ratings. The unrealized loss in the prior years was primarily caused by challenging business environment faced by container shipping industry, which affected profitability and liquidity of HMM. The financial results and financial position of HMM have significantly improved in the recent months. The Company collects rentals on the Company’s vessels leased to HMM and the mandatory repayments of the notes on a regular basis, in accordance with the contractual agreements. The contractual terms of HMM debt securities do not permit HMM to settle the debt securities at a price less than the amortized cost basis on the investments. The Company currently does not expect HMM to settle the remaining debt securities at a price less than the amortized cost basis of the investments. The Company does not intend to sell HMM debt securities and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis.6 Other Non-current Assets (Continued)The following tables summarizes the unrealized positions for available-for-sale debt securities as of June 30, 2021 and December 31, 2020 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;margin:0pt;padding:0pt;">Amortized cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.11%;margin:0pt;padding:0pt;">Unrealized</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">Description of securities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">basis</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">gain/(loss)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">June 30, 2021</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">HMM Notes 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,530</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,961</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (569)</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">December 31, 2020</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">ZIM notes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"> 49,871</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"> 43,559</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"> (6,312)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">HMM notes</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 24,607</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,328</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,279)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 74,478</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 62,887</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (11,591)</td></tr></table>The unrealized gain/(loss), which were recognized in other comprehensive income/(loss), are analyzed as follows as of June 30, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:78.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:78.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.08%;margin:0pt;padding:0pt;">Unrealized gain/(loss)</td></tr><tr><td style="vertical-align:bottom;width:78.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.08%;margin:0pt;padding:0pt;">on available for</td></tr><tr><td style="vertical-align:bottom;width:78.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">sale securities</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Beginning balance as of January 1, 2021 </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.92%;margin:0pt;padding:0pt;"> (11,591)</td></tr><tr><td style="vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Unrealized gain on available for sale securities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.92%;margin:0pt;padding:0pt;"> 19,717</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Reclassification to interest income</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (8,695)</td></tr><tr><td style="vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Ending balance as of June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.92%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (569)</td></tr></table>Other assets mainly include non-current assets related to straight-lining of the Company’s revenue amounting to $15.5 million and $20.0 million as of June 30, 2021 and December 31, 2020, respectively.

Other non-current assets consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;margin:0pt;padding:0pt;">As of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Available for sale securities:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">ZIM notes, net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 43,559</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">HMM notes, net</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 19,328</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Equity participation ZIM</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 75</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Other assets</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 15,518</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 20,421</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:67.25%;margin:0pt;padding:0pt;">Total non-current assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 389,319</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 83,383</td></tr></table>

43559000

5961000

19328000

367840000

75000

15518000

20421000

389319000

83383000

8800000

41100000

32800000

6200000

2400000

47200000

6400000

19900000

3000000.0 10186950

75000

2000000

76400000

8186950

367800000

444200000

367800000

6 Other Non-current Assets (Continued)The following tables summarizes the unrealized positions for available-for-sale debt securities as of June 30, 2021 and December 31, 2020 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;margin:0pt;padding:0pt;">Amortized cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.11%;margin:0pt;padding:0pt;">Unrealized</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">Description of securities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">basis</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">gain/(loss)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">June 30, 2021</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">HMM Notes 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,530</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,961</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (569)</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">December 31, 2020</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">ZIM notes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"> 49,871</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"> 43,559</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;margin:0pt;padding:0pt;"> (6,312)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">HMM notes</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 24,607</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,328</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,279)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:49.65%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 74,478</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 62,887</td><td style="vertical-align:bottom;white-space:nowrap;width:2.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (11,591)</td></tr></table>

6530000

5961000

569000

49871000

43559000

6312000

24607000

19328000

5279000

74478000

62887000

11591000

The unrealized gain/(loss), which were recognized in other comprehensive income/(loss), are analyzed as follows as of June 30, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:78.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:78.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.08%;margin:0pt;padding:0pt;">Unrealized gain/(loss)</td></tr><tr><td style="vertical-align:bottom;width:78.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.08%;margin:0pt;padding:0pt;">on available for</td></tr><tr><td style="vertical-align:bottom;width:78.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">sale securities</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Beginning balance as of January 1, 2021 </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.92%;margin:0pt;padding:0pt;"> (11,591)</td></tr><tr><td style="vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Unrealized gain on available for sale securities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.92%;margin:0pt;padding:0pt;"> 19,717</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Reclassification to interest income</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:16.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (8,695)</td></tr><tr><td style="vertical-align:top;width:78.85%;margin:0pt;padding:0pt;">Ending balance as of June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.92%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (569)</td></tr></table>

11591000

19717000

-8695000

569000

15500000 20000000.0 7 Accrued LiabilitiesAccrued liabilities consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:67.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;margin:0pt;padding:0pt;">As of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued payroll </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 965</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 1,008</td></tr><tr><td style="vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued interest </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 13,438</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 2,137</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued dry-docking expenses </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 2,177</td></tr><tr><td style="vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued expenses </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,478</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,638</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Total </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 19,881</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 10,960</td></tr></table>Accrued expenses mainly consisted of accruals related to the operation of the Company’s fleet as of June 30, 2021 and December 31, 2020.

Accrued liabilities consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:67.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;margin:0pt;padding:0pt;">As of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:67.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued payroll </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 965</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 1,008</td></tr><tr><td style="vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued interest </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> 13,438</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 2,137</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued dry-docking expenses </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;margin:0pt;padding:0pt;"> 2,177</td></tr><tr><td style="vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Accrued expenses </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,478</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,638</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:67.25%;margin:0pt;padding:0pt;">Total </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 19,881</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 10,960</td></tr></table>

965000

1008000

13438000

2137000

2177000 5478000 5638000

19881000

10960000

8 Long-Term Debt, netLong-term debt, net consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.35%;margin:0pt;padding:0pt;">Balance as of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.65%;margin:0pt;padding:0pt;">Balance as of</td></tr><tr><td style="vertical-align:bottom;width:66.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Citibank/Natwest $815 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 815,000</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Senior unsecured notes </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 300,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Macquarie Bank $58 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 50,800</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 56,000</td></tr><tr><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">SinoPac $13.3 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 11,800</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 12,800</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Fair value of debt adjustment</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> (11,714)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> (14,304)</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">The Royal Bank of Scotland $475.5 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 433,412</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">HSH Nordbank AG - Aegean Baltic Bank - Piraeus Bank $382.5 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 351,759</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank $114 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 63,061</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Credit Suisse $171.8 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 101,254</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank – Eurobank $37.6 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 17,669</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Club Facility $206.2 mil.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 124,427</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Sinosure Cexim - Citibank - ABN Amro $203.4 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 20,340</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank $123.9 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 85,280</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank $120 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 93,742</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Comprehensive Financing Plan exit fees accrued</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 22,660</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Total long-term debt</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;width:11.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">1,165,886</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;width:14.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,368,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Less: Deferred finance costs, net</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> (32,536)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> (25,093)</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Less: Current portion</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (93,450)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (155,662)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Total long-term debt net of current portion and deferred finance cost</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,039,900</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,187,345</td></tr></table>On April 12, 2021, the Company consummated the refinancing of the 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 from the $300 million Senior Notes, to refinance the existing facilities. The Citibank/Natwest $815 million senior secured credit facility with four-year term is 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 bears 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 and CMA CGM Bianca previously mortgaged by this facility, together with CMA CGM Melisande and CMA CGM Attila, were refinanced through a new $135 million sale and leaseback arrangement with Oriental Fleet International Company Limited on April 12, 2021. Refer to Note 3 “Fixed Assets, net”.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. 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 new effective interest method. 8 Long-Term Debt, net (Continued)Net proceeds from the senior unsecured notes amounting to $294.4 million were placed in an escrow account in February 2021 and on April 12, 2021 were used, together with the net proceeds from the $815 million credit facility and the $135 new sale and leaseback arrangement to refinance the Company’s 2018 Credit Facilities. As of June 30, 2021, there was no remaining borrowing availability under the Company’s credit facilities. The Company was in compliance with the financial covenants contained in the credit facilities agreements as of June 30, 2021 and December 31, 2020.As of June 30, 2021, each of the secured credit facilities is 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. As of June 30, 2021, fifty-three of the Company’s vessels, excluding the Hyundai Honour, Hyundai Respect, CMA CGM Melisande, CMA CGM Attila, CMA CGM Tancredi, CMA CGM Bianca and CMA CGM Samson having a net carrying value of $1,727.6 million, were subject to first preferred mortgages as collateral to the Company’s secured credit facilities.The scheduled debt maturities of long-term debt subsequent to June 30, 2021 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:75.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:20.36%;margin:0pt;padding:0pt;">Principal</td></tr><tr><td style="vertical-align:bottom;width:75.8%;margin:0pt;padding:0pt;">Payments due by period ended</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:20.36%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">repayments</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2022</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 93,450</td></tr><tr><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 90,000</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2024</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 87,900</td></tr><tr><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 586,750</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2026</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 19,500</td></tr><tr><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 300,000</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">Total long-term debt</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,177,600</td></tr></table>The Citibank/Natwest $815 million senior secured credit facility contains a requirement to maintain minimum fair market value of collateral vessels to loan value coverage of 120% and financial covenants requiring to maintain the following:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:26pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(i)</td><td style="padding:0pt;">minimum liquidity of $30.0 million; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:26pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(ii)</td><td style="padding:0pt;">maximum consolidated debt (less cash and cash equivalents) to consolidated EBITDA ratio of 6.5x; and </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:26pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(iii)</td><td style="padding:0pt;">minimum consolidated EBITDA to net interest expense ratio of 2.5x.</td></tr></table>The Macquarie Bank credit facilities’ financial covenants were amended requiring to maintain the same financial covenants as the Citibank/Natwest $815 million senior secured credit facility.Accounting for the 2021 RefinancingThe 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 2018 Credit Facilities were fully repaid and accounted for under the extinguishment accounting.8 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 2018 Credit Facilities and are payable in eight quarterly instalments. An amount of $6.0 million is presented under “Other current liabilities” and $6.0 million under “Other long-term liabilities” as of June 30, 2021. 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 will continue to be recognized in the income statement over the remaining life of the original loan as the future interest is paid. The 2021 Refinancing resulted in a total net gain on debt extinguishment of $111.6 million recognized in the income statement in the period ended June 30, 2021.

Long-term debt, net consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.35%;margin:0pt;padding:0pt;">Balance as of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.65%;margin:0pt;padding:0pt;">Balance as of</td></tr><tr><td style="vertical-align:bottom;width:66.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2020</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Citibank/Natwest $815 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 815,000</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Senior unsecured notes </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 300,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Macquarie Bank $58 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 50,800</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 56,000</td></tr><tr><td style="vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">SinoPac $13.3 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> 11,800</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 12,800</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:66.86%;margin:0pt;padding:0pt;">Fair value of debt adjustment</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> (11,714)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> (14,304)</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">The Royal Bank of Scotland $475.5 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 433,412</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">HSH Nordbank AG - Aegean Baltic Bank - Piraeus Bank $382.5 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 351,759</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank $114 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 63,061</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Credit Suisse $171.8 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 101,254</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank – Eurobank $37.6 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 17,669</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Club Facility $206.2 mil.</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 124,427</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Sinosure Cexim - Citibank - ABN Amro $203.4 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 20,340</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank $123.9 mil. Facility</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 85,280</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Citibank $120 mil. Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> 93,742</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Comprehensive Financing Plan exit fees accrued</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 22,660</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Total long-term debt</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;width:11.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">1,165,886</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;width:14.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,368,100</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Less: Deferred finance costs, net</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;margin:0pt;padding:0pt;"> (32,536)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;margin:0pt;padding:0pt;"> (25,093)</td></tr><tr><td style="vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Less: Current portion</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (93,450)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:14.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (155,662)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:66.86%;margin:0pt;padding:0pt;">Total long-term debt net of current portion and deferred finance cost</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:11.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,039,900</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:middle;width:14.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,187,345</td></tr></table>

815000000

300000000

58000000

50800000

56000000

13300000

11800000

12800000

11714000 14304000

475500000

433412000

382500000

351759000

114000000

63061000

171800000

101254000

37600000

17669000

206200000

124427000

203400000

20340000

123900000

85280000

120000000

93742000

22660000 1165886000 1368100000

32536000

25093000

93450000 155662000

1039900000

1187345000

815000000

135000000

300000000

815000000

P4Y

20400000

489000000.0

0.0250

135000000

300000000.0

0.0850

1.0425

1.02125

0.35

1.0850

9000000.0

294400000

815000000

135000000

53 1727600000

The scheduled debt maturities of long-term debt subsequent to June 30, 2021 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:75.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:20.36%;margin:0pt;padding:0pt;">Principal</td></tr><tr><td style="vertical-align:bottom;width:75.8%;margin:0pt;padding:0pt;">Payments due by period ended</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:20.36%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">repayments</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2022</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 93,450</td></tr><tr><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 90,000</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2024</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 87,900</td></tr><tr><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 586,750</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">June 30, 2026</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;margin:0pt;padding:0pt;"> 19,500</td></tr><tr><td style="vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 300,000</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:75.8%;margin:0pt;padding:0pt;">Total long-term debt</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:17.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,177,600</td></tr></table>

93450000

90000000

87900000

586750000

19500000

300000000

1177600000

815000000

1.20 30000000.0 6.5 2.5

815000000

2300000

15600000

12000000.0

8 6000000.0 6000000.0

382500000

75300000

475500000

35600000 33300000 111600000

9 Financial InstrumentsThe principal financial assets of the Company consist of cash and cash equivalents, trade receivables, equity participation in ZIM and other assets. The principal financial liabilities of the Company consist of long-term bank loans. The following is a summary of the Company’s risk management strategies and the effect of these strategies on the Company’s condensed consolidated financial statements.Interest Rate Risk: Interest rate risk arises on bank borrowings. The Company monitors the interest rate on borrowings closely to ensure that the borrowings are maintained at favorable rates.Concentration of Credit Risk: Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and trade accounts receivable. The Company places its temporary cash investments, consisting mostly of deposits, with established financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. The Company is exposed to credit risk in the event of non-performance by counterparties, however, the Company limits this exposure by diversifying among counterparties with high credit ratings. The Company depends upon a limited number of customers for a large part of its revenues. Credit risk with respect to trade accounts receivable is generally managed by the selection of customers among the major liner companies in the world and their dispersion across many geographic areas.9 Financial Instruments (Continued)Fair Value: The carrying amounts reflected in the accompanying consolidated balance sheets of financial assets and liabilities (excluding long-term bank loans and certain other non-current assets) approximate their respective fair values due to the short maturity of these instruments. The fair values of long-term floating rate bank loans approximate the recorded values, generally due to their variable interest rates. The fair value of available for sale securities is estimated based on 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 fair value of the equity participation in ZIM is measured based on the closing price of ZIM ordinary shares on the NYSE. The Company is exposed to changes in fair value of available for sale securities as there is no hedging strategy.a. Interest Rate Swap HedgesThe Company currently has no outstanding interest rate swaps agreements. However, in the past years, the Company entered into interest rate swap agreements with its lenders in order to manage its floating rate exposure. Certain variable-rate interests on specific borrowings were associated with vessels under construction and were capitalized as a cost of the specific vessels. In accordance with the accounting guidance on derivatives and hedging, the amounts related to realized gains or losses on cash flow hedges that have been entered into and qualified for hedge accounting, in order to hedge the variability of that interest, were recognized in accumulated other comprehensive loss and are reclassified into earnings over the depreciable life of the constructed asset, since that depreciable life coincides with the amortization period for the capitalized interest cost on the debt. An amount of $1.8 million was reclassified into earnings for the six months ended June 30, 2021 and 2020, representing its amortization over the depreciable life of the vessels. An amount of $3.6 million is expected to be reclassified into earnings within the next 12 months.b. Fair Value of Financial InstrumentsThe Company determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy.Level I: Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation of these items does not entail a significant amount of judgment.Level II: Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.Level III: Inputs that are unobservable. The Company did not use any Level 3 inputs as of June 30, 2021 and December 31, 2020.9 Financial Instruments (Continued)The estimated fair values of the Company’s financial instruments are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2020</td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Book Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Book Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:47.59%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">Cash and cash equivalents </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 294,418</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 294,418</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 65,663</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 65,663</td></tr><tr><td style="vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">ZIM notes</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 43,559</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 43,559</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">HMM notes</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 19,328</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 19,328</td></tr><tr><td style="vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">Equity participation ZIM</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 75</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;">n/a*</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">Long-term debt, including current portion </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,368,100</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,368,100</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"/><td style="font-family:'Symbol';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:17.85pt;padding:0pt;">*</td><td style="padding:0pt;">As of December 31, 2020, there was no readily determinable fair value.</td></tr></table>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 June 30, 2021:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:50.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of June 30, 2021</td></tr><tr><td style="vertical-align:bottom;width:46.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="13" style="padding:0pt;"/></tr><tr><td style="vertical-align:bottom;width:46.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:50.62%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:46.99%;margin:0pt;padding:0pt;">HMM notes(1)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.34%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.99%;margin:0pt;padding:0pt;">Equity participation ZIM</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.34%;margin:0pt;padding:0pt;"> —</td></tr></table>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 June 30, 2021:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of June 30, 2021</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="10" style="vertical-align:bottom;white-space:nowrap;width:52.76%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:43.04%;margin:0pt;padding:0pt;">Long-term debt, including current portion(2)</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr></table>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, 2020:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of December 31, 2020</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:43.04%;margin:0pt;padding:0pt;">ZIM notes(1)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 43,559</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 43,559</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.04%;margin:0pt;padding:0pt;">HMM notes(1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 19,328</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 19,328</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr></table>9 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, 2020:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of December 31, 2020</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;">Long-term debt, including current portion(2) </td><td style="background-color:#cceeff;vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 1,368,100</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 1,368,100</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:17.85pt;padding:0pt;">(1)</td><td style="padding:0pt;">The fair value 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.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:17.85pt;padding:0pt;">(2)</td><td style="padding:0pt;">Long-term debt, including current portion is presented gross of deferred finance costs of $32.5 million and $25.1 million as of June 30, 2021 and December 31, 2020, respectively. The fair value of the Company’s debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities, as well as taking into account its increased credit risk and does not include amounts related to the accumulated accrued interest.</td></tr></table>

1800000

3600000

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2020</td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Book Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Book Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:50.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:47.59%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">Cash and cash equivalents </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 294,418</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 294,418</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 65,663</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 65,663</td></tr><tr><td style="vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">ZIM notes</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 43,559</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 43,559</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">HMM notes</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 19,328</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 19,328</td></tr><tr><td style="vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">Equity participation ZIM</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 75</td><td style="vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;">n/a*</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:50.5%;margin:0pt;padding:0pt;">Long-term debt, including current portion </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,368,100</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 1,368,100</td></tr></table>

294418000

65663000

43559000

5961000

19328000

367840000

75000

1165886000

1368100000

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 June 30, 2021:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:50.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of June 30, 2021</td></tr><tr><td style="vertical-align:bottom;width:46.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="13" style="padding:0pt;"/></tr><tr><td style="vertical-align:bottom;width:46.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:50.62%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:46.99%;margin:0pt;padding:0pt;">HMM notes(1)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 5,961</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.34%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.99%;margin:0pt;padding:0pt;">Equity participation ZIM</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> 367,840</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.37%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.34%;margin:0pt;padding:0pt;"> —</td></tr></table>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 June 30, 2021:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of June 30, 2021</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="10" style="vertical-align:bottom;white-space:nowrap;width:52.76%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:43.04%;margin:0pt;padding:0pt;">Long-term debt, including current portion(2)</td><td style="background-color:#cceeff;vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 1,165,886</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr></table>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, 2020:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of December 31, 2020</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:43.04%;margin:0pt;padding:0pt;">ZIM notes(1)</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 43,559</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 43,559</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.04%;margin:0pt;padding:0pt;">HMM notes(1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 19,328</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 19,328</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr></table>9 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, 2020:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value Measurements as of December 31, 2020</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level I)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level II)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Level III)</td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:54.38%;margin:0pt;padding:0pt;">(in thousands of $)</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:43.04%;margin:0pt;padding:0pt;">Long-term debt, including current portion(2) </td><td style="background-color:#cceeff;vertical-align:bottom;width:2.56%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.14%;margin:0pt;padding:0pt;"> 1,368,100</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> —</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"> 1,368,100</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.94%;margin:0pt;padding:0pt;"> —</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:17.85pt;padding:0pt;">(1)</td><td style="padding:0pt;">The fair value 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.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:17.85pt;padding:0pt;">(2)</td><td style="padding:0pt;">Long-term debt, including current portion is presented gross of deferred finance costs of $32.5 million and $25.1 million as of June 30, 2021 and December 31, 2020, respectively. The fair value of the Company’s debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities, as well as taking into account its increased credit risk and does not include amounts related to the accumulated accrued interest.</td></tr></table>

5961000

367840000

1165886000

43559000

19328000

1368100000

32500000

25100000

10 Commitments and ContingenciesThere are no 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. Furthermore, the Company does not have any outstanding commitments. On January 20, 2021, the Company received $3.9 million from Hanjin Shipping as a partial payment of a common benefit claim plus interest. See the Note 3 “Fixed Assets, Net” for buyback obligations related to the sale and leaseback arrangements.

3900000

11 Stockholders’ EquityOn May 10, 2021, the Company declared a dividend of $0.50 per share of common stock for the first quarter of 2021, which was paid on June 9, 2021 to stockholders of record as of May 27, 2021.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.As of April 18, 2008, the Board of Directors and the Compensation Committee approved incentive compensation of the Manager’s employees with its 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. 11 Stockholders’ Equity (Continued)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 are scheduled to vest 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. On February 12, 2021, the Company granted 110,000 fully vested shares to executive officers and Board of Directors members and 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, 10,000 restricted shares are scheduled to vest on December 31, 2021 and the remaining 20,000 restricted shares are scheduled to vest on December 31, 2022. In 2020, 714 shares were forfeited, in 2021 414 shares were forfeited and 65,760 restricted shares are scheduled to vest on December 31, 2021. These restricted shares are subject to satisfaction of the vesting terms, under the Company’s 2006 Equity Compensation Plan, as amended. 245,148 shares and 215,562 shares of restricted stock are issued and outstanding as of June 30, 2021 and December 31, 2020, respectively.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 the six months ended June 30, 2021 and June 30, 2020, none of the directors elected to receive their compensation in Company shares.

0.50

4339271

31100000

2517013

1822258

298774

149386

149388

137944

35714

4168

66888

110000

40000

10000

20000

714

414

65760

245148

215562

1000000

12 Lease ArrangementsCharters-outAs of June 30, 2021, the Company generated operating revenues from its 60 vessels on time charters or bareboat charter agreements, with remaining terms ranging from less than one year to April 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.12 Lease Arrangements (Continued)The future minimum rentals, expected to be earned on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of June 30, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Remainder of 2021</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 303,599</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 548,859</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2023</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 356,293</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 161,609</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2025</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 75,483</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2026 and thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 50,014</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Total future rentals</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,495,857</td></tr></table>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.

60 The future minimum rentals, expected to be earned on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of June 30, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Remainder of 2021</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 303,599</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 548,859</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2023</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 356,293</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 161,609</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2025</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;"> 75,483</td></tr><tr><td style="vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">2026 and thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 50,014</td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:84.97%;margin:0pt;padding:0pt;">Total future rentals</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,495,857</td></tr></table>

303599000

548859000

356293000

161609000

75483000

50014000

1495857000

13 Earnings per ShareThe following table sets forth the computation of basic and diluted earnings per share:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three months ended </td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2020</td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Numerator:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Net income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 372,837</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 38,496</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Denominator (number of shares in thousands):</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Basic weighted average common shares outstanding </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,354</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,573</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Effect of dilutive securities:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Share based compensation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 245</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 216</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Diluted weighted average common shares outstanding </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,599</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,789</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended </td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2020</td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Numerator:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Net income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 669,617</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 67,585</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Denominator (number of shares in thousands):</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Basic weighted average common shares outstanding </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,323</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,573</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Effect of dilutive securities:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;"> Share based compensation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 234</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 216</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Diluted weighted average common shares outstanding </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,557</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,789</td></tr></table>

The following table sets forth the computation of basic and diluted earnings per share:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three months ended </td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2020</td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Numerator:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Net income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 372,837</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 38,496</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Denominator (number of shares in thousands):</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Basic weighted average common shares outstanding </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,354</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,573</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Effect of dilutive securities:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Share based compensation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 245</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 216</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Diluted weighted average common shares outstanding </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,599</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,789</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six months ended </td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2020</td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:73.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.76%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Numerator:</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Net income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 669,617</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 67,585</td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Denominator (number of shares in thousands):</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Basic weighted average common shares outstanding </td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,323</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,573</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Effect of dilutive securities:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:top;width:73.89%;margin:0pt;padding:0pt;"> Share based compensation</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 234</td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 216</td></tr><tr><td style="vertical-align:top;width:73.89%;margin:0pt;padding:0pt;">Diluted weighted average common shares outstanding </td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 20,557</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.22%;margin:0pt;padding:0pt;"> 24,789</td></tr></table>

372837000

38496000

20354000

24573000

245000

216000

20599000

24789000

669617000

67585000

20323000

24573000

234000

216000

20557000

24789000

14 Related Party TransactionsManagement fees to Danaos Shipping Company Limited (“the Manager”) amounted to $9.2 million and $8.6 million in the six months ended June 30, 2021 and 2020, respectively, and are presented under “General and administrative expenses” in the condensed consolidated statements of income. The Company has granted restricted stock to executive officers, Board of Directors members and certain employees of the Manager. Refer to Note 11 “Stockholders' Equity”.Commissions to the Manager amounted to $3.5 million and $2.7 million in the six months ended June 30, 2021 and 2020, respectively and are presented under “Voyage expenses” in the condensed consolidated statements of income.The balance “Due from related parties” in the condensed consolidated balance sheets totaling $21.3 million and $20.4 million as of June 30, 2021 and December 31, 2020, respectively, represents advances to the Manager on account of the vessels’ operating and other expenses. An amount of $0.3 million and $0.2 million as of June 30, 2021 and December 31, 2020, respectively, was due to executive officers and is presented under “Accounts payable” in the condensed consolidated balance sheets.

9200000

8600000

3500000 2700000

21300000

20400000

300000

200000

15 Subsequent EventsOn July 1, 2021, the Company exercised its option to acquire the remaining equity interest in Gemini. The purchase price for the 51% of Gemini is $86.7 million in cash. Substantially all of the fair value of the gross assets acquired is concentrated in adjusted vessels value, the Company will therefore account for the acquisition of the five vessels of Gemini as an asset acquisition.On July 7, 2021, the Company entered into an agreement to acquire six 5,500 TEU vessels for a gross purchase price amounting to $260.0 million. These vessels are expected to be delivered to the Company from August to October 2021.On August 2, 2021, the Company declared a dividend of $0.50 per share of common stock payable on August 30, 2021, to holders of record on August 16, 2021.

0.51

86700000

5 5500 260000000.0

0.50

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Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2021
Entity Registrant Name	DANAOS CORPORATION
Entity Central Index Key	0001369241
Document Type	6-K
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 294,418	$ 65,663
Accounts receivable, net	7,112	7,556
Inventories	9,799	9,619
Prepaid expenses	1,222	855
Due from related parties	21,326	20,426
Other current assets	14,609	14,329
Total current assets	348,486	118,448
NON-CURRENT ASSETS
Fixed assets at cost, net of accumulated depreciation of $993,858 (2020: $941,960)	2,429,647	2,479,937
Deferred charges, net	13,440	17,339
Investments in affiliates	19,238	15,273
Other non-current assets	389,319	83,383
Total non-current assets	2,851,644	2,595,932
Total assets	3,200,130	2,714,380
CURRENT LIABILITIES
Accounts payable	11,835	10,613
Accrued liabilities	19,881	10,960
Current portion of long-term debt, net	93,450	155,662
Current portion of long-term leaseback obligation, net	63,316	24,515
Accumulated accrued interest, current portion	5,854	18,036
Unearned revenue	20,754	19,476
Other current liabilities	13,734	423
Total current liabilities	228,824	239,685
LONG-TERM LIABILITIES
Long-term debt, net	1,039,900	1,187,345
Long-term leaseback obligation, net of current portion	168,542	95,585
Accumulated accrued interest, net of current portion	27,450	136,433
Unearned revenue, net of current portion	16,187	19,574
Other long-term liabilities	6,034	181
Total long-term liabilities	1,258,113	1,439,118
Total liabilities	1,486,937	1,678,803
Commitments and Contingencies
STOCKHOLDERS' EQUITY
Preferred stock (par value $0.01, 100,000,000 preferred shares authorized and not issued as of June 30, 2021 and December 31, 2020)
Common stock (par value $0.01, 750,000,000 common shares authorized as of June 30, 2021 and December 31, 2020. 24,938,211 and 24,788,598 shares issued as of June 30, 2021 and December 31, 2020; and 20,598,940 and 20,449,327 shares outstanding as of June 30, 2021 and December 31, 2020)	206	204
Additional paid-in capital	760,869	755,390
Accumulated other comprehensive loss	(73,851)	(86,669)
Retained earnings	1,025,969	366,652
Total stockholders' equity	1,713,193	1,035,577
Total liabilities and stockholders' equity	$ 3,200,130	$ 2,714,380

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accumulated depreciation	$ 993,858	$ 941,960
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	24,938,211	24,788,598
Common stock, shares outstanding	20,598,940	20,449,327

XML 12 R4.htm IDEA: XBRL DOCUMENT

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
OPERATING REVENUES	$ 146,434	$ 116,824	$ 278,552	$ 223,020
OPERATING EXPENSES
Voyage expenses	(4,966)	(3,289)	(9,194)	(7,335)
Vessel operating expenses	(32,940)	(28,568)	(64,018)	(54,570)
Depreciation	(26,099)	(25,258)	(51,898)	(49,839)
Amortization of deferred drydocking and special survey costs	(2,545)	(2,941)	(5,054)	(5,251)
General and administrative expenses	(7,130)	(6,013)	(18,025)	(11,853)
Income From Operations	72,754	50,755	130,363	94,172
OTHER INCOME (EXPENSES):
Interest income	9,531	1,588	11,509	3,302
Interest expense	(18,204)	(13,645)	(33,315)	(29,958)
Gain on investments	196,290		444,165
Gain on debt extinguishment	111,616		111,616
Other finance expenses	(582)	(1,038)	(1,034)	(1,660)
Equity income on investments	2,162	1,720	3,965	3,265
Other income, net	173	19	4,144	270
Loss on derivatives	(903)	(903)	(1,796)	(1,806)
Total Other Income/(Expenses), net	300,083	(12,259)	539,254	(26,587)
Net Income	$ 372,837	$ 38,496	$ 669,617	$ 67,585
EARNINGS PER SHARE
Basic earnings per share	$ 18.32	$ 1.57	$ 32.95	$ 2.75
Diluted earnings per share	$ 18.10	$ 1.55	$ 32.57	$ 2.73
Basic weighted average number of common shares (in thousands)	20,354	24,573	20,323	24,573
Diluted weighted average number of common shares (in thousands)	20,599	24,789	20,557	24,789

XML 13 R5.htm IDEA: XBRL DOCUMENT

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income for the period	$ 372,837	$ 38,496	$ 669,617	$ 67,585
Other comprehensive income/(loss):
Unrealized gain/(loss) on available for sale securities	130	6,467	19,717	(1,865)
Reclassification to interest income	(8,695)		(8,695)
Amortization of deferred realized losses on cash flow hedges	903	903	1,796	1,806
Total Other Comprehensive Income/(Loss)	(7,662)	7,370	12,818	(59)
Comprehensive Income	$ 365,175	$ 45,866	$ 682,435	$ 67,526

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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XML 14 R6.htm IDEA: XBRL DOCUMENT

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ 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
Increase (Decrease) in Stockholders' Equity
Net Income				29,089	29,089
Stock compensation		298			298
Net movement in other comprehensive income			(7,429)		(7,429)
Balance at Mar. 31, 2020	$ 248	785,572	(124,363)	242,191	903,648
Balance (in shares) at Mar. 31, 2020	24,789
Balance at Dec. 31, 2019	$ 248	785,274	(116,934)	213,102	881,690
Balance (in shares) at Dec. 31, 2019	24,789
Increase (Decrease) in Stockholders' Equity
Net Income					67,585
Net movement in other comprehensive income					(59)
Balance at Jun. 30, 2020	$ 248	785,870	(116,993)	280,687	949,812
Balance (in shares) at Jun. 30, 2020	24,789
Balance at Mar. 31, 2020	$ 248	785,572	(124,363)	242,191	903,648
Balance (in shares) at Mar. 31, 2020	24,789
Increase (Decrease) in Stockholders' Equity
Net Income				38,496	38,496
Stock compensation		298			298
Net movement in other comprehensive income			7,370		7,370
Balance at Jun. 30, 2020	$ 248	785,870	(116,993)	280,687	949,812
Balance (in shares) at Jun. 30, 2020	24,789
Balance at Dec. 31, 2020	$ 204	755,390	(86,669)	366,652	1,035,577
Balance (in shares) at Dec. 31, 2020	20,449
Increase (Decrease) in Stockholders' Equity
Net Income				296,780	296,780
Stock compensation	$ 2	4,907			4,909
Stock compensation (in shares)	150
Net movement in other comprehensive income			20,480		20,480
Balance at Mar. 31, 2021	$ 206	760,297	(66,189)	663,432	1,357,746
Balance (in shares) at Mar. 31, 2021	20,599
Balance at Dec. 31, 2020	$ 204	755,390	(86,669)	366,652	1,035,577
Balance (in shares) at Dec. 31, 2020	20,449
Increase (Decrease) in Stockholders' Equity
Net Income					669,617
Net movement in other comprehensive income					12,818
Balance at Jun. 30, 2021	$ 206	760,869	(73,851)	1,025,969	1,713,193
Balance (in shares) at Jun. 30, 2021	20,599
Balance at Mar. 31, 2021	$ 206	760,297	(66,189)	663,432	1,357,746
Balance (in shares) at Mar. 31, 2021	20,599
Increase (Decrease) in Stockholders' Equity
Net Income				372,837	372,837
Dividends				(10,300)	(10,300)
Stock compensation		570			570
Issuance of common stock		2			2
Net movement in other comprehensive income			(7,662)		(7,662)
Balance at Jun. 30, 2021	$ 206	$ 760,869	$ (73,851)	$ 1,025,969	$ 1,713,193
Balance (in shares) at Jun. 30, 2021	20,599

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Basis of Presentation and General Information

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

XML 15 R7.htm IDEA: XBRL DOCUMENT

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities
Net income	$ 669,617	$ 67,585
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	51,898	49,839
Amortization of deferred drydocking and special survey costs	5,054	5,251
Amortization of finance costs	6,218	5,604
Exit fee accrued on debt	149	258
Debt discount amortization	2,590	2,858
PIK interest	726	1,550
Gain on investments	(444,165)
Gain on debt extinguishment	(111,616)
Payments for drydocking and special survey costs deferred	(1,155)	(13,380)
Amortization of deferred realized losses on interest rate swaps	1,796	1,806
Stock based compensation	5,479	596
Equity income on investments	(3,965)	(3,265)
(Increase)/Decrease in
Accounts receivable	444	(5,407)
Inventories	(180)	(864)
Prepaid expenses	(367)	105
Due from related parties	(900)	(1,864)
Other assets, current and non-current	3,093	1,934
Increase/(Decrease) in
Accounts payable	1,425	5,235
Accrued liabilities	8,921	3,702
Unearned revenue, current and long-term	(2,109)	(4,465)
Other liabilities, current and long-term	(210)	(210)
Net Cash provided by Operating Activities	192,743	116,868
Cash Flows from Investing Activities
Vessels additions and advances	(1,811)	(98,746)
Investments	145,877	(75)
Net Cash provided by/(used in) Investing Activities	144,066	(98,821)
Cash Flows from Financing Activities
Proceeds from long-term debt	1,105,311	23,400
Payments of long-term debt	(1,295,025)	(65,176)
Proceeds from sale-leaseback of vessels	135,000	139,080
Payments of leaseback obligation	(21,175)	(142,065)
Dividends paid	(10,298)
Payments of accumulated accrued interest	(7,358)	(15,502)
Finance costs	(14,509)	(11,999)
Net Cash used in Financing Activities	(108,054)	(72,262)
Net Increase/(Decrease) in cash and cash equivalents	228,755	(54,215)
Cash and cash equivalents at beginning of period	65,663	139,170
Cash and cash equivalents at end of period	$ 294,418	$ 84,955

XML 16 R8.htm IDEA: XBRL DOCUMENT

Basis of Presentation and General Information

6 Months Ended

Jun. 30, 2021

1 Basis of Presentation and General Information

1 Basis of Presentation and General Information (Continued)

As of June 30, 2021, Danaos included the vessel owning companies (the “Danaos Subsidiaries”) listed below. All vessels are container vessels:


Company	Date of Incorporation	Vessel Name	Year 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	Charleston	2005	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	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
Actaea Company Limited	October 14, 2014	Zim Savannah (ex Performance)	2002	6,402
Asteria Shipping Company Limited	October 14, 2014	Dimitra C	2002	6,402
Continent Marine Inc.	March 22, 2006	Zim Monaco	2009	4,253
Medsea Marine Inc.	May 8, 2006	Dalian (ex Zim 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 (ex ANL 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
Trindade Maritime Company	April 10, 2013	Amalia C	1998	2,452
Sarond Shipping Inc.	January 18, 2013	Artotina (ex Danae C)	2001	2,524
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	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

(1)

Twenty-feet equivalent unit, the international standard measure for containers and containership capacity.

1 Basis of Presentation and General Information (Continued)

Impact of COVID-19 on the Company's Business

XML 17 R9.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies

6 Months Ended

Jun. 30, 2021

Significant Accounting Policies

2 Significant Accounting Policies

XML 18 R10.htm IDEA: XBRL DOCUMENT

Fixed assets, net

6 Months Ended

Jun. 30, 2021

Fixed assets, net

3 Fixed assets, net

3 Fixed assets, net (Continued)

The Company should be in compliance with the same financial covenants as required by the Citibank/Natwest $815 million senior secured facility – see Note 8 “Long-Term Debt, net”.

The scheduled aggregate leaseback instalments subsequent to June 30, 2021 are as follows (in thousands):


Instalments due by 12-months period ended:
June 30, 2022	$	74,716
June 30, 2023		68,482
June 30, 2024		77,793
June 30, 2025		7,209
Until April 2026		36,411
Total leaseback instalments		264,611
Less: Imputed interest		(27,396)
Total leaseback obligation		237,215
Less: Deferred finance costs, net		(5,357)
Less: Current leaseback obligation		(63,316)
Leaseback obligation, net of current portion	$	168,542

XML 19 R11.htm IDEA: XBRL DOCUMENT

Deferred Charges, net

6 Months Ended

Jun. 30, 2021

Deferred Charges, net

4 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		1,155
Amortization		(5,054)
As of June 30, 2021	$	13,440

XML 20 R12.htm IDEA: XBRL DOCUMENT

Investments in affiliates

6 Months Ended

Jun. 30, 2021

Investments in affiliates

Investments in affiliates

5 Investments in affiliates


		Year		Date of vessel
Company	Vessel Name	Built	TEU	delivery
Averto Shipping S.A.	Suez Canal	2002	5,610	July 20, 2015
Sinoi Marine Ltd.	Genoa	2002	5,544	August 2, 2015
Kingsland International Shipping Limited	Catherine C	2001	6,422	September 21, 2015
Leo Shipping and Trading S.A.	Leo C	2002	6,422	February 4, 2016
Springer Shipping Co.	Belita	2006	8,533	August 26, 2019

A condensed summary of the financial information for equity accounted investments 49% owned by the Company shown on a 100% basis are as follows (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Current assets	$	16,922	$	11,524
Non-current assets	$	70,091	$	69,149
Current liabilities	$	8,603	$	7,585
Non-current liabilities	$	39,151	$	41,920

		Six months ended	Six months ended
	June 30, 2021		June 30, 2020
Net operating revenues	$	17,984	$	16,441
Net income	$	8,091	$	6,664

XML 21 R13.htm IDEA: XBRL DOCUMENT

Other Non-current Assets

6 Months Ended

Jun. 30, 2021

Other Non-current Assets

6 Other Non-current Assets

Other non-current assets consisted of the following (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Available for sale securities:
ZIM notes, net		—	$	43,559
HMM notes, net	$	5,961		19,328
Equity participation ZIM		367,840		75
Other assets		15,518		20,421
Total non-current assets	$	389,319	$	83,383

6 Other Non-current Assets (Continued)

The following tables summarizes the unrealized positions for available-for-sale debt securities as of June 30, 2021 and December 31, 2020 (in thousands):


	Amortized cost				Unrealized
Description of securities	basis		Fair value		gain/(loss)
June 30, 2021
HMM Notes 2	$	6,530	$	5,961	$	(569)

December 31, 2020
ZIM notes	$	49,871	$	43,559	$	(6,312)
HMM notes		24,607		19,328		(5,279)
Total	$	74,478	$	62,887	$	(11,591)

The unrealized gain/(loss), which were recognized in other comprehensive income/(loss), are analyzed as follows as of June 30, 2021 (in thousands):


	Unrealized gain/(loss)
	on available for
	sale securities
Beginning balance as of January 1, 2021	$	(11,591)
Unrealized gain on available for sale securities		19,717
Reclassification to interest income		(8,695)
Ending balance as of June 30, 2021	$	(569)

XML 22 R14.htm IDEA: XBRL DOCUMENT

Accrued Liabilities

6 Months Ended

Jun. 30, 2021

Accrued Liabilities

7 Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Accrued payroll	$	965	$	1,008
Accrued interest		13,438		2,137
Accrued dry-docking expenses		—		2,177
Accrued expenses		5,478		5,638
Total	$	19,881	$	10,960

Accrued expenses mainly consisted of accruals related to the operation of the Company’s fleet as of June 30, 2021 and December 31, 2020.

XML 23 R15.htm IDEA: XBRL DOCUMENT

Long-Term Debt, net

6 Months Ended

Jun. 30, 2021

Long-Term Debt, net

8 Long-Term Debt, net

Long-term debt, net consisted of the following (in thousands):


	Balance as of		Balance as of
Credit Facility	June 30, 2021		December 31, 2020
Citibank/Natwest $815 mil. Facility	$	815,000		—
Senior unsecured notes		300,000		—
Macquarie Bank $58 mil. Facility		50,800	$	56,000
SinoPac $13.3 mil. Facility		11,800		12,800
Fair value of debt adjustment		(11,714)		(14,304)
The Royal Bank of Scotland $475.5 mil. Facility		—		433,412
HSH Nordbank AG - Aegean Baltic Bank - Piraeus Bank $382.5 mil. Facility		—		351,759
Citibank $114 mil. Facility		—		63,061
Credit Suisse $171.8 mil. Facility		—		101,254
Citibank – Eurobank $37.6 mil. Facility		—		17,669
Club Facility $206.2 mil.		—		124,427
Sinosure Cexim - Citibank - ABN Amro $203.4 mil. Facility		—		20,340
Citibank $123.9 mil. Facility		—		85,280
Citibank $120 mil. Facility		—		93,742
Comprehensive Financing Plan exit fees accrued		—		22,660
Total long-term debt	$	1,165,886	$	1,368,100
Less: Deferred finance costs, net		(32,536)		(25,093)
Less: Current portion		(93,450)		(155,662)
Total long-term debt net of current portion and deferred finance cost	$	1,039,900	$	1,187,345

8 Long-Term Debt, net (Continued)

The scheduled debt maturities of long-term debt subsequent to June 30, 2021 are as follows (in thousands):


	Principal
Payments due by period ended	repayments
June 30, 2022	$	93,450
June 30, 2023		90,000
June 30, 2024		87,900
June 30, 2025		586,750
June 30, 2026		19,500
Thereafter		300,000
Total long-term debt	$	1,177,600

(i)

minimum liquidity of $30.0 million;

(ii)

maximum consolidated debt (less cash and cash equivalents) to consolidated EBITDA ratio of 6.5x; and

(iii)

minimum consolidated EBITDA to net interest expense ratio of 2.5x.

The Macquarie Bank credit facilities’ financial covenants were amended requiring to maintain the same financial covenants as the Citibank/Natwest $815 million senior secured credit facility.

Accounting for the 2021 Refinancing

8 Long-Term Debt, net (Continued)

XML 24 R16.htm IDEA: XBRL DOCUMENT

Financial Instruments

6 Months Ended

Jun. 30, 2021

Financial Instruments

9 Financial Instruments

Interest Rate Risk: Interest rate risk arises on bank borrowings. The Company monitors the interest rate on borrowings closely to ensure that the borrowings are maintained at favorable rates.

9 Financial Instruments (Continued)

a. Interest Rate Swap Hedges

b. Fair Value of Financial Instruments

Level II: Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.

Level III: Inputs that are unobservable. The Company did not use any Level 3 inputs as of June 30, 2021 and December 31, 2020.

9 Financial Instruments (Continued)

The estimated fair values of the Company’s financial instruments are as follows:


	As of June 30, 2021				As of December 31, 2020
	Book Value		Fair Value		Book Value		Fair Value

	(in thousands of $)
Cash and cash equivalents	$	294,418	$	294,418	$	65,663	$	65,663
ZIM notes	$	—	$	—	$	43,559	$	43,559
HMM notes	$	5,961	$	5,961	$	19,328	$	19,328
Equity participation ZIM	$	367,840	$	367,840	$	75		n/a*
Long-term debt, including current portion	$	1,165,886	$	1,165,886	$	1,368,100	$	1,368,100

As of December 31, 2020, there was no readily determinable fair value.

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 June 30, 2021:


	Fair Value Measurements as of June 30, 2021
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
HMM notes(1)	$	5,961	$	—	$	5,961	$	—
Equity participation ZIM	$	367,840	$	367,840	$	—	$	—

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 June 30, 2021:


	Fair Value Measurements as of June 30, 2021
	Total		(Level I)		(Level II)		(Level III)

		(in thousands of $)
Long-term debt, including current portion(2)	$	1,165,886	$	—	$	1,165,886	$	—

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, 2020:


	Fair Value Measurements as of December 31, 2020
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
ZIM notes(1)	$	43,559	$	—	$	43,559	$	—
HMM notes(1)	$	19,328	$	—	$	19,328	$	—

9 Financial Instruments (Continued)


	Fair Value Measurements as of December 31, 2020
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
Long-term debt, including current portion(2)	$	1,368,100	$	—	$	1,368,100	$	—

(1)

(2)

XML 25 R17.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies

10 Commitments and Contingencies

XML 26 R18.htm IDEA: XBRL DOCUMENT

Stockholders' Equity

6 Months Ended

Jun. 30, 2021

Stockholders' Equity

11 Stockholders’ Equity

On May 10, 2021, the Company declared a dividend of $0.50 per share of common stock for the first quarter of 2021, which was paid on June 9, 2021 to stockholders of record as of May 27, 2021.

11 Stockholders’ Equity (Continued)

XML 27 R19.htm IDEA: XBRL DOCUMENT

Lease Arrangements

6 Months Ended

Jun. 30, 2021

Lease Arrangements

12 Lease Arrangements

Charters-out

12 Lease Arrangements (Continued)

The future minimum rentals, expected to be earned on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of June 30, 2021 (in thousands):


Remainder of 2021	$	303,599
2022		548,859
2023		356,293
2024		161,609
2025		75,483
2026 and thereafter		50,014
Total future rentals	$	1,495,857

XML 28 R20.htm IDEA: XBRL DOCUMENT

Earnings per Share

6 Months Ended

Jun. 30, 2021

Earnings per Share

13 Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:


	Three months ended
	June 30, 2021		June 30, 2020

	(in thousands)
Numerator:
Net income	$	372,837	$	38,496

Denominator (number of shares in thousands):
Basic weighted average common shares outstanding		20,354		24,573
Effect of dilutive securities:
Share based compensation		245		216
Diluted weighted average common shares outstanding		20,599		24,789


	Six months ended
	June 30, 2021		June 30, 2020

	(in thousands)
Numerator:
Net income	$	669,617	$	67,585

Denominator (number of shares in thousands):
Basic weighted average common shares outstanding		20,323		24,573
Effect of dilutive securities:
Share based compensation		234		216
Diluted weighted average common shares outstanding		20,557		24,789

XML 29 R21.htm IDEA: XBRL DOCUMENT

Related Party Transactions

6 Months Ended

Jun. 30, 2021

Related Party Transactions

14 Related Party Transactions

XML 30 R22.htm IDEA: XBRL DOCUMENT

Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events

15 Subsequent Events

On August 2, 2021, the Company declared a dividend of $0.50 per share of common stock payable on August 30, 2021, to holders of record on August 16, 2021.

XML 31 R23.htm IDEA: XBRL DOCUMENT

Basis of Presentation and General Information (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of the vessel owning companies (the "Danaos Subsidiaries")

1 Basis of Presentation and General Information (Continued)

As of June 30, 2021, Danaos included the vessel owning companies (the “Danaos Subsidiaries”) listed below. All vessels are container vessels:


Company	Date of Incorporation	Vessel Name	Year 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	Charleston	2005	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	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
Actaea Company Limited	October 14, 2014	Zim Savannah (ex Performance)	2002	6,402
Asteria Shipping Company Limited	October 14, 2014	Dimitra C	2002	6,402
Continent Marine Inc.	March 22, 2006	Zim Monaco	2009	4,253
Medsea Marine Inc.	May 8, 2006	Dalian (ex Zim 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 (ex ANL 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
Trindade Maritime Company	April 10, 2013	Amalia C	1998	2,452
Sarond Shipping Inc.	January 18, 2013	Artotina (ex Danae C)	2001	2,524
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	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

(1)

Twenty-feet equivalent unit, the international standard measure for containers and containership capacity.

XML 32 R24.htm IDEA: XBRL DOCUMENT

Fixed assets, net (Tables)

6 Months Ended

Jun. 30, 2021

Fixed assets, net

Schedule of leaseback instalments

The scheduled aggregate leaseback instalments subsequent to June 30, 2021 are as follows (in thousands):


Instalments due by 12-months period ended:
June 30, 2022	$	74,716
June 30, 2023		68,482
June 30, 2024		77,793
June 30, 2025		7,209
Until April 2026		36,411
Total leaseback instalments		264,611
Less: Imputed interest		(27,396)
Total leaseback obligation		237,215
Less: Deferred finance costs, net		(5,357)
Less: Current leaseback obligation		(63,316)
Leaseback obligation, net of current portion	$	168,542

XML 33 R25.htm IDEA: XBRL DOCUMENT

Deferred Charges, net (Tables)

6 Months Ended

Jun. 30, 2021

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		1,155
Amortization		(5,054)
As of June 30, 2021	$	13,440

XML 34 R26.htm IDEA: XBRL DOCUMENT

Investments in affiliates (Tables)

6 Months Ended

Jun. 30, 2021

Investments in affiliates

Schedule of Consolidated wholly owned subsidiaries

As of June 30, 2021, Gemini consolidated its wholly owned subsidiaries listed below:


		Year		Date of vessel
Company	Vessel Name	Built	TEU	delivery
Averto Shipping S.A.	Suez Canal	2002	5,610	July 20, 2015
Sinoi Marine Ltd.	Genoa	2002	5,544	August 2, 2015
Kingsland International Shipping Limited	Catherine C	2001	6,422	September 21, 2015
Leo Shipping and Trading S.A.	Leo C	2002	6,422	February 4, 2016
Springer Shipping Co.	Belita	2006	8,533	August 26, 2019

Summary of the financial information for equity accounted investments

A condensed summary of the financial information for equity accounted investments 49% owned by the Company shown on a 100% basis are as follows (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Current assets	$	16,922	$	11,524
Non-current assets	$	70,091	$	69,149
Current liabilities	$	8,603	$	7,585
Non-current liabilities	$	39,151	$	41,920

		Six months ended	Six months ended
	June 30, 2021		June 30, 2020
Net operating revenues	$	17,984	$	16,441
Net income	$	8,091	$	6,664

XML 35 R27.htm IDEA: XBRL DOCUMENT

Other Non-current Assets (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of other non-current assets

Other non-current assets consisted of the following (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Available for sale securities:
ZIM notes, net		—	$	43,559
HMM notes, net	$	5,961		19,328
Equity participation ZIM		367,840		75
Other assets		15,518		20,421
Total non-current assets	$	389,319	$	83,383

Schedule of available for sale securities at fair value and unrealized losses

6 Other Non-current Assets (Continued)

The following tables summarizes the unrealized positions for available-for-sale debt securities as of June 30, 2021 and December 31, 2020 (in thousands):


	Amortized cost				Unrealized
Description of securities	basis		Fair value		gain/(loss)
June 30, 2021
HMM Notes 2	$	6,530	$	5,961	$	(569)

December 31, 2020
ZIM notes	$	49,871	$	43,559	$	(6,312)
HMM notes		24,607		19,328		(5,279)
Total	$	74,478	$	62,887	$	(11,591)

Schedule of unrealized loss on available for sale securities

The unrealized gain/(loss), which were recognized in other comprehensive income/(loss), are analyzed as follows as of June 30, 2021 (in thousands):


	Unrealized gain/(loss)
	on available for
	sale securities
Beginning balance as of January 1, 2021	$	(11,591)
Unrealized gain on available for sale securities		19,717
Reclassification to interest income		(8,695)
Ending balance as of June 30, 2021	$	(569)

XML 36 R28.htm IDEA: XBRL DOCUMENT

Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of accrued liabilities

Accrued liabilities consisted of the following (in thousands):


	As of		As of
	June 30, 2021		December 31, 2020
Accrued payroll	$	965	$	1,008
Accrued interest		13,438		2,137
Accrued dry-docking expenses		—		2,177
Accrued expenses		5,478		5,638
Total	$	19,881	$	10,960

XML 37 R29.htm IDEA: XBRL DOCUMENT

Long-Term Debt, net (Tables)

6 Months Ended

Jun. 30, 2021

Long-Term Debt, net

Schedule of long-term debt, net

Long-term debt, net consisted of the following (in thousands):


	Balance as of		Balance as of
Credit Facility	June 30, 2021		December 31, 2020
Citibank/Natwest $815 mil. Facility	$	815,000		—
Senior unsecured notes		300,000		—
Macquarie Bank $58 mil. Facility		50,800	$	56,000
SinoPac $13.3 mil. Facility		11,800		12,800
Fair value of debt adjustment		(11,714)		(14,304)
The Royal Bank of Scotland $475.5 mil. Facility		—		433,412
HSH Nordbank AG - Aegean Baltic Bank - Piraeus Bank $382.5 mil. Facility		—		351,759
Citibank $114 mil. Facility		—		63,061
Credit Suisse $171.8 mil. Facility		—		101,254
Citibank – Eurobank $37.6 mil. Facility		—		17,669
Club Facility $206.2 mil.		—		124,427
Sinosure Cexim - Citibank - ABN Amro $203.4 mil. Facility		—		20,340
Citibank $123.9 mil. Facility		—		85,280
Citibank $120 mil. Facility		—		93,742
Comprehensive Financing Plan exit fees accrued		—		22,660
Total long-term debt	$	1,165,886	$	1,368,100
Less: Deferred finance costs, net		(32,536)		(25,093)
Less: Current portion		(93,450)		(155,662)
Total long-term debt net of current portion and deferred finance cost	$	1,039,900	$	1,187,345

Schedule of debt maturities of long-term debt

The scheduled debt maturities of long-term debt subsequent to June 30, 2021 are as follows (in thousands):


	Principal
Payments due by period ended	repayments
June 30, 2022	$	93,450
June 30, 2023		90,000
June 30, 2024		87,900
June 30, 2025		586,750
June 30, 2026		19,500
Thereafter		300,000
Total long-term debt	$	1,177,600

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Schedule of estimated fair values of the financial instruments

XML 38 R30.htm IDEA: XBRL DOCUMENT

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Financial Instruments


	As of June 30, 2021				As of December 31, 2020
	Book Value		Fair Value		Book Value		Fair Value

	(in thousands of $)
Cash and cash equivalents	$	294,418	$	294,418	$	65,663	$	65,663
ZIM notes	$	—	$	—	$	43,559	$	43,559
HMM notes	$	5,961	$	5,961	$	19,328	$	19,328
Equity participation ZIM	$	367,840	$	367,840	$	75		n/a*
Long-term debt, including current portion	$	1,165,886	$	1,165,886	$	1,368,100	$	1,368,100

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 measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows as of June 30, 2021:


	Fair Value Measurements as of June 30, 2021
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
HMM notes(1)	$	5,961	$	—	$	5,961	$	—
Equity participation ZIM	$	367,840	$	367,840	$	—	$	—

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 June 30, 2021:


	Fair Value Measurements as of June 30, 2021
	Total		(Level I)		(Level II)		(Level III)

		(in thousands of $)
Long-term debt, including current portion(2)	$	1,165,886	$	—	$	1,165,886	$	—

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, 2020:


	Fair Value Measurements as of December 31, 2020
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
ZIM notes(1)	$	43,559	$	—	$	43,559	$	—
HMM notes(1)	$	19,328	$	—	$	19,328	$	—

9 Financial Instruments (Continued)


	Fair Value Measurements as of December 31, 2020
	Total		(Level I)		(Level II)		(Level III)

	(in thousands of $)
Long-term debt, including current portion(2)	$	1,368,100	$	—	$	1,368,100	$	—

(1)

(2)

XML 39 R31.htm IDEA: XBRL DOCUMENT

Lease Arrangements (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of future minimum rentals, expected to be earned on non cancellable time charters

The future minimum rentals, expected to be earned on non-cancellable time charters and bareboat charters classified as operating leases consisted of the following as of June 30, 2021 (in thousands):


Remainder of 2021	$	303,599
2022		548,859
2023		356,293
2024		161,609
2025		75,483
2026 and thereafter		50,014
Total future rentals	$	1,495,857

XML 40 R32.htm IDEA: XBRL DOCUMENT

Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share:


	Three months ended
	June 30, 2021		June 30, 2020

	(in thousands)
Numerator:
Net income	$	372,837	$	38,496

Denominator (number of shares in thousands):
Basic weighted average common shares outstanding		20,354		24,573
Effect of dilutive securities:
Share based compensation		245		216
Diluted weighted average common shares outstanding		20,599		24,789


	Six months ended
	June 30, 2021		June 30, 2020

	(in thousands)
Numerator:
Net income	$	669,617	$	67,585

Denominator (number of shares in thousands):
Basic weighted average common shares outstanding		20,323		24,573
Effect of dilutive securities:
Share based compensation		234		216
Diluted weighted average common shares outstanding		20,557		24,789

XML 41 R33.htm IDEA: XBRL DOCUMENT

Basis of Presentation and General Information (Details)	Jun. 30, 2021 item $ / shares shares	Dec. 31, 2020 $ / shares shares
Property, Plant and Equipment
Common stock, authorized capital stock (in shares) \| shares	750,000,000	750,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Preferred stock, authorized capital stock (in shares) \| shares	100,000,000	100,000,000
Preferred stock, par value (in dollars per share) \| $ / shares	$ 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
Pusan C
Property, Plant and Equipment
TEU	9,580
Le Havre
Property, Plant and Equipment
TEU	9,580
Bremen
Property, Plant and Equipment
TEU	9,012
C 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
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
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
Zim Savannah (ex Performance)
Property, Plant and Equipment
TEU	6,402
Dimitra C
Property, Plant and Equipment
TEU	6,402
Zim Monaco
Property, Plant and Equipment
TEU	4,253
Dalian (ex Zim Dalian)
Property, Plant and Equipment
TEU	4,253
Zim Luanda
Property, Plant and Equipment
TEU	4,253
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
Seattle C
Property, Plant and Equipment
TEU	4,253
Vancouver
Property, Plant and Equipment
TEU	4,253
Tongala (ex 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
Colombo
Property, Plant and Equipment
TEU	3,314
Zebra
Property, Plant and Equipment
TEU	2,602
Amalia C
Property, Plant and Equipment
TEU	2,452
Artotina (ex Danae C)
Property, Plant and Equipment
TEU	2,524
Highway
Property, Plant and Equipment
TEU	2,200
Progress C
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

XML 42 R34.htm IDEA: XBRL DOCUMENT

Fixed assets, net (Details) $ in Thousands			6 Months Ended
Fixed assets, net (Details) $ in Thousands	Apr. 12, 2021 USD ($)	May 12, 2020 USD ($)	Jun. 30, 2021 USD ($) $ / T	Dec. 31, 2020 USD ($)
Fixed Assets, Net
Carrying value			$ 2,429,647	$ 2,479,937
Credit facility			815,000
Instalments due by 12-months period ended:
Less: Current leaseback obligation			(63,316)	(24,515)
Leaseback obligation, net of current portion			168,542	95,585
Citibank/Natwest $815 mil. Facility
Fixed Assets, Net
Sale Leaseback Transaction, Historical Cost	$ 135,000
Credit facility	815,000		815,000
Minimum liquidity per vessels			30,000
Vessel
Fixed Assets, Net
Residual value of the fleet			$ 428,200	$ 428,200
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
Instalments due by 12-months period ended:
June 30, 2022			$ 74,716
June 30, 2023			68,482
June 30, 2024			77,793
June 30, 2025			7,209
Until April 2026			36,411
Total leaseback instalments			264,611
Less: Imputed interest			(27,396)
Total leaseback obligation			237,215
Less: Deferred finance costs, net			(5,357)
Less: Current leaseback obligation			(63,316)
Leaseback obligation, net of current portion			168,542
Hyundai Honour And Hyundai Respect
Fixed Assets, Net
Sale Leaseback Transaction, Historical Cost		$ 139,100
Sale and leaseback arrangement term (in years)		4 years
Repurchase price		$ 36,000
Carrying value			265,600
CMA CGM Melisande, CMA CGM Attila, CMA CGM Tancredi, CMA CGM Bianca and CMA CGM Samson
Fixed Assets, Net
Sale Leaseback Transaction, Historical Cost	$ 135,000
Sale and leaseback arrangement term (in years)	5 years
Repurchase price	$ 31,000
Carrying value			$ 436,500

XML 43 R35.htm IDEA: XBRL DOCUMENT

Deferred Charges, net (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
Deferred Charges, net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Changes in deferred charges, net
Balance at the beginning of the period	$ 17,339
Balance at the end of the period	13,440	$ 17,339
Drydocking and Special Survey Costs
Changes in deferred charges, net
Balance at the beginning of the period	17,339	11,455
Additions	1,155	16,916
Amortization	(5,054)	(11,032)
Balance at the end of the period	$ 13,440	$ 17,339
Period of amortization for deferred costs	2 years 6 months

XML 44 R36.htm IDEA: XBRL DOCUMENT

Investments in affiliates (Details) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
Investments in affiliates (Details) $ in Millions	Aug. 31, 2019 USD ($)	Jun. 30, 2021 USD ($) item	Dec. 31, 2020 USD ($)	Aug. 31, 2015
Gemini
Schedule of Equity Method Investments
Ownership (as a percent)	49.00%	49.00%	49.00%
Gemini \| Belita
Schedule of Equity Method Investments
TEU		8,533
Gemini
Schedule of Equity Method Investments
Capital lease obligations assumed \| $	$ 35.4
Borrowings under a secured loan facility \| $	30.0
Proceeds from equity contributions \| $	$ 47.4
Gemini \| Suez Canal
Schedule of Equity Method Investments
TEU		5,610
Gemini \| Genoa
Schedule of Equity Method Investments
TEU		5,544
Gemini \| Catherine C
Schedule of Equity Method Investments
TEU		6,422
Gemini \| Leo C
Schedule of Equity Method Investments
TEU		6,422
Gemini \| Belita
Schedule of Equity Method Investments
TEU		8,533
Gemini \| Entities that leases Suez Canal and Genoa
Schedule of Equity Method Investments
Acquired interest				100.00%
Gemini \| Owners of container vessels Catherine C and Leo C
Schedule of Equity Method Investments
Acquired interest		100.00%
Gemini \| Equity Method Investment, Nonconsolidated Investee
Schedule of Equity Method Investments
Net assets \| $		$ 39.3	$ 31.2
Virage \| Gemini
Schedule of Equity Method Investments
Ownership (as a percent)	51.00%

XML 45 R37.htm IDEA: XBRL DOCUMENT

Investments in affiliates - Equity Accounted Investments (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Summary of financial information
Current assets		$ 348,486		$ 348,486		$ 118,448
Non-current assets		2,851,644		2,851,644		2,595,932
Current liabilities		228,824		228,824		239,685
Long-term liabilities		1,258,113		1,258,113		$ 1,439,118
Net operating revenues		146,434	$ 116,824	278,552	$ 223,020
Net income				$ 669,617	67,585
Gemini
Summary of financial information
Ownership (as a percent)	49.00%			49.00%		49.00%
Equity Method Investment, Nonconsolidated Investee \| Gemini
Summary of financial information
Current assets		16,922		$ 16,922		$ 11,524
Non-current assets		70,091		70,091		69,149
Current liabilities		8,603		8,603		7,585
Long-term liabilities		$ 39,151		39,151		$ 41,920
Net operating revenues				17,984	16,441
Net income				$ 8,091	$ 6,664

XML 46 R38.htm IDEA: XBRL DOCUMENT

Other Non-current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Non-current Assets
Other assets	$ 15,518	$ 20,421
Total non-current assets	389,319	83,383
ZIM notes
Other Non-current Assets
Available for sale securities	0	43,559
HMM notes
Other Non-current Assets
Available for sale securities	5,961	19,328
Equity participation \| ZIM
Other Non-current Assets
Equity participation ZIM	$ 367,840	$ 75

XML 47 R39.htm IDEA: XBRL DOCUMENT

Other Non-current Assets - ZIM (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2021	Jan. 27, 2021	Dec. 31, 2020	Jul. 31, 2016	Jul. 31, 2014
Other Non-current Assets
Total gain on ZIM ordinary shares		$ 196,290	$ 444,165
Book value of investment					$ 75
Unearned revenue	$ 20,754	20,754	20,754		19,476
Non-current portion of unearned revenue	$ 16,187	$ 16,187	$ 16,187		$ 19,574
ZIM
Other Non-current Assets
Ordinary shares owned	8,186,950	8,186,950	8,186,950	10,186,950
Ordinary shares sold	2,000,000
Net proceeds from sale of ordinary shares	$ 76,400
Total gain on ZIM ordinary shares			$ 444,200
Unrealized gain on ZIM ordinary shares			367,800
Fair value of shareholding interest	$ 367,800	$ 367,800	367,800
Series 1 Notes \| ZIM
Other Non-current Assets
Principal amount of unsecured notes received							$ 8,800
Proceeds received from mandatory repayment of notes			2,400
Series 1 Notes \| HMM
Other Non-current Assets
Accrued interest			3,000
Series 2 Notes \| ZIM
Other Non-current Assets
Principal amount of unsecured notes received							$ 41,100
Accrued interest			6,400
Series 1 and Series 2 Notes \| ZIM
Other Non-current Assets
Proceeds received from mandatory repayment of notes			47,200
Loan Notes 1 HMM \| ZIM
Other Non-current Assets
Proceeds received from mandatory repayment of notes			$ 19,900
Loan Notes 1 HMM \| HMM
Other Non-current Assets
Principal amount of unsecured notes received						$ 32,800
Loan Notes 2 HMM \| HMM
Other Non-current Assets
Principal amount of unsecured notes received						$ 6,200

XML 48 R40.htm IDEA: XBRL DOCUMENT

Other Non-current Assets - Transfer to Available for sale category (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Available for sale securities at fair value and unrealized losses
Amortized cost basis		$ 74,478
Fair value		62,887
Unrealized gain/(loss)		(11,591)
Unrealized loss on available for sale securities
Beginning balance as of January 1, 2021	$ (11,591)
Unrealized gain on available for sale securities	19,717
Reclassification to interest income	(8,695)
Ending balance as of June 30, 2021	(569)	(11,591)
Straight-lining of company's revenue	15,500	20,000
ZIM notes
Available for sale securities at fair value and unrealized losses
Amortized cost basis		49,871
Fair value		43,559
Unrealized gain/(loss)		(6,312)
HMM Notes 2
Available for sale securities at fair value and unrealized losses
Amortized cost basis	6,530
Fair value	5,961
Unrealized gain/(loss)	$ (569)
HMM notes
Available for sale securities at fair value and unrealized losses
Amortized cost basis		24,607
Fair value		19,328
Unrealized gain/(loss)		$ (5,279)

XML 49 R41.htm IDEA: XBRL DOCUMENT

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued payroll	$ 965	$ 1,008
Accrued interest	13,438	2,137
Accrued dry-docking expenses		2,177
Accrued expenses	5,478	5,638
Total	$ 19,881	$ 10,960

XML 50 R42.htm IDEA: XBRL DOCUMENT

Long-Term Debt, net - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Apr. 12, 2021	Feb. 11, 2021	Dec. 31, 2020
Long-Term Debt, net
Fair value of debt adjustment	$ (11,714)			$ (14,304)
Comprehensive Financing Plan exit fees accrued				22,660
Total long-term debt	1,165,886			1,368,100
Less: Deferred finance costs, net	(32,536)			(25,093)
Less: Current portion	(93,450)			(155,662)
Total long-term debt net of current portion and deferred finance cost	1,039,900			1,187,345
Credit facility	815,000
Citibank/Natwest $815 mil. Facility
Long-Term Debt, net
Long-term debt	815,000	$ 300,000
Credit facility	815,000	$ 815,000
Senior unsecured notes
Long-Term Debt, net
Long-term debt	300,000		$ 300,000
Macquarie Bank $58 mil. Facility
Long-Term Debt, net
Long-term debt	50,800			56,000
Credit facility	58,000
SinoPac $13.3 mil. Facility
Long-Term Debt, net
Long-term debt	11,800			12,800
Credit facility	13,300
RBS
Long-Term Debt, net
Long-term debt				433,412
Credit facility	475,500
HSH Nordbank AG-Aegean Baltic Bank-Piraeus Bank
Long-Term Debt, net
Long-term debt				351,759
Credit facility	382,500
Citibank $114 mil. Facility
Long-Term Debt, net
Long-term debt				63,061
Credit facility	114,000
Credit Suisse
Long-Term Debt, net
Long-term debt				101,254
Credit facility	171,800
Citi-Eurobank
Long-Term Debt, net
Long-term debt				17,669
Credit facility	37,600
Club Facility
Long-Term Debt, net
Long-term debt				124,427
Credit facility	206,200
Sinosure CEXIM-Citi-ABN Amro Credit Facility
Long-Term Debt, net
Long-term debt				20,340
Credit facility	203,400
Citibank $123.9 mil. Facility
Long-Term Debt, net
Long-term debt				85,280
Credit facility	123,900
Citibank $120 mil. Facility
Long-Term Debt, net
Long-term debt				$ 93,742
Credit facility	$ 120,000

XML 51 R43.htm IDEA: XBRL DOCUMENT

Long-Term Debt, net - Principal Payments (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Scheduled maturities of long-term debt
June 30, 2022	$ 93,450
June 30, 2023	90,000
June 30, 2024	87,900
June 30, 2025	586,750
June 30, 2026	19,500
Thereafter	300,000
Total long-term debt	$ 1,177,600

XML 52 R44.htm IDEA: XBRL DOCUMENT

Long-Term Debt, net - Accounting for the 2021 Refinancing (Details) $ in Millions		6 Months Ended
	Apr. 12, 2021 USD ($)	Jun. 30, 2021 USD ($) installment
Line of Credit Facility [Line Items]
Credit facility		$ 815.0
Total gain on debt extinguishment		111.6
Citibank/Natwest $815 mil. Facility
Line of Credit Facility [Line Items]
Legal and other fees		2.3
Loan arrangement fees deferred		15.6
Citibank/Natwest \| Other current liabilities
Line of Credit Facility [Line Items]
Accrued additional fees		6.0
Citibank/Natwest \| Other long-term liabilities
Line of Credit Facility [Line Items]
Accrued additional fees		6.0
RBS
Line of Credit Facility [Line Items]
Total gain on debt extinguishment	$ 35.6
Deferred gain on debt extinguishment	33.3
HSH Nordbank AG-Aegean Baltic Bank-Piraeus Bank
Line of Credit Facility [Line Items]
Accumulated accrued interest	75.3
Credit facility		382.5
Total gain on debt extinguishment	$ 75.3
2018 Credit Facilities \| RBS
Line of Credit Facility [Line Items]
Additional fees amount		$ 12.0
Number of quarterly instalments \| installment		8
RBS
Line of Credit Facility [Line Items]
Credit facility		$ 475.5

XML 53 R45.htm IDEA: XBRL DOCUMENT

Long-Term Debt, net - Additional Information (Details)			6 Months Ended
Long-Term Debt, net - Additional Information (Details)	Apr. 12, 2021 USD ($) installment	Feb. 11, 2021 USD ($)	Jun. 30, 2021 USD ($) item	Dec. 31, 2020 USD ($)
Line of Credit Facility [Line Items]
Credit facility			$ 815,000,000
Deferred bond issuance costs			32,500,000	$ 25,100,000
Remaining borrowing availability			$ 0
Number of vessels excluding sale and lease back arrangement \| item			53
Carrying value of vessels			$ 1,727,600,000
CMA CGM Melisande, CMA CGM Attila, CMA CGM Tancredi, CMA CGM Bianca and CMA CGM Samson
Line of Credit Facility [Line Items]
Sale and Lease back arrangement, amount	$ 135,000,000.0
Citibank/Natwest $815 mil. Facility
Line of Credit Facility [Line Items]
Credit facility	$ 815,000,000		815,000,000
Term of debt	4 years
Number of quarterly instalments \| installment	16
Amount of quarterly instalment	$ 20,400,000
Balloon payment at maturity	489,000,000.0
Sale and Lease back arrangement, amount	135,000,000
Long-term debt	300,000,000		$ 815,000,000
Minimum percentage of fair market value of collateral vessels required to cover loan value			120.00%
Minimum liquidity			$ 30,000,000.0
Maximum leverage ratio			6.5
Minimum interest coverage ratio			2.5
Citibank/Natwest $815 mil. Facility \| Maximum
Line of Credit Facility [Line Items]
Long-term debt	$ 815,000,000
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]
Long-term debt		$ 300,000,000.0	$ 300,000,000
Fixed interest rate (as a percent)		8.50%
Percent of equity offering proceeds within 90 days after the equity offering closing		108.50%
Deferred bond issuance costs		$ 9,000,000.0
Net proceeds placed in escrow account and used later		$ 294,400,000
Senior unsecured notes \| March 1, 2024
Line of Credit Facility [Line Items]
Percent of principal amount being redeemed		104.25%
Senior unsecured notes \| March 1, 2025
Line of Credit Facility [Line Items]
Percent of principal amount being redeemed		102.125%
Senior unsecured notes \| March 1, 2026
Line of Credit Facility [Line Items]
Percent of principal amount being redeemed		100.00%
Senior unsecured notes \| Maximum
Line of Credit Facility [Line Items]
Redemption price (as percent)		35.00%
HSH Nordbank AG-Aegean Baltic Bank-Piraeus Bank
Line of Credit Facility [Line Items]
Credit facility			$ 382,500,000
Long-term debt				$ 351,759,000

XML 54 R46.htm IDEA: XBRL DOCUMENT

Financial Instruments - Interest Rate Swap Hedges (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($) agreement	Jun. 30, 2020 USD ($)
Financial Instruments
Number of agreements held \| agreement	0
Interest rate swap contracts
Financial Instruments
Unrealized losses reclassified from accumulated other comprehensive loss to earnings	$ 1.8	$ 1.8
Unrealized losses expected to be reclassified from accumulated other comprehensive loss to earnings within the next twelve months	$ 3.6

XML 55 R47.htm IDEA: XBRL DOCUMENT

Financial Instruments - Estimated Fair Values Of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Total
Financial Instruments
Cash and cash equivalents	$ 294,418	$ 65,663
Equity participation ZIM	367,840
Long-term debt, including current portion	1,165,886	1,368,100
Total \| ZIM \| Notes
Financial Instruments
Notes		43,559
Total \| HMM \| Notes
Financial Instruments
Notes	5,961	19,328
Book Value
Financial Instruments
Cash and cash equivalents	294,418	65,663
Equity participation ZIM	367,840	75
Long-term debt, including current portion	1,165,886	1,368,100
Book Value \| ZIM \| Notes
Financial Instruments
Notes		43,559
Book Value \| HMM \| Notes
Financial Instruments
Notes	$ 5,961	$ 19,328

XML 56 R48.htm IDEA: XBRL DOCUMENT

Financial Instruments - Financial Instruments Measured and Not Measured At Fair Value On Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financial instruments measured at fair value
Deferred finance costs, net	$ 32,500	$ 25,100
Total
Financial instruments measured at fair value
Long-term debt, including current portion	1,165,886	1,368,100
Non-recurring basis \| Significant Other Observable Inputs (Level 2)
Financial instruments measured at fair value
Long-term debt, including current portion	1,165,886	1,368,100
Non-recurring basis \| Total
Financial instruments measured at fair value
Long-term debt, including current portion	1,165,886	1,368,100
Notes \| ZIM \| Total
Financial instruments measured at fair value
Notes		43,559
Notes \| ZIM \| Recurring basis \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial instruments measured at fair value
Notes	367,840
Notes \| ZIM \| Recurring basis \| Total
Financial instruments measured at fair value
Notes	367,840	43,559
Notes \| ZIM \| Recurring basis \| Total \| Significant Other Observable Inputs (Level 2)
Financial instruments measured at fair value
Notes		43,559
Notes \| HMM \| Total
Financial instruments measured at fair value
Notes	5,961	19,328
Notes \| HMM \| Recurring basis \| Significant Other Observable Inputs (Level 2)
Financial instruments measured at fair value
Notes	5,961
Notes \| HMM \| Recurring basis \| Total
Financial instruments measured at fair value
Notes	$ 5,961	19,328
Notes \| HMM \| Recurring basis \| Total \| Significant Other Observable Inputs (Level 2)
Financial instruments measured at fair value
Notes		$ 19,328

XML 57 R49.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies (Details) $ in Millions	Jan. 20, 2021 USD ($)
Commitments and Contingencies
Partial payment received from Hanjin Shipping as common benefit claim and interest	$ 3.9

XML 58 R50.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Details) $ / shares in Units, $ in Millions					6 Months Ended		12 Months Ended
	Mar. 16, 2021 shares	Feb. 12, 2021 shares	May 10, 2019 shares	Sep. 14, 2018 shares	Jun. 30, 2021 director shares	Jun. 30, 2020 director	Dec. 31, 2021 shares	Dec. 31, 2020 shares	May 10, 2021 $ / shares	Oct. 12, 2020 USD ($) shares	Aug. 02, 2019 shares
Stock Based Compensation
Dividend declared per share \| $ / shares									$ 0.50
Number of shares authorized to be repurchased										4,339,271
Aggregate purchase price \| $										$ 31.1
Number of directors who elected to receive their compensation in shares \| director					0	0
Maximum number of shares that may be granted											1,000,000
RBS
Stock Based Compensation
Number of shares authorized to be repurchased										2,517,013
Sphinx Investment Corp
Stock Based Compensation
Number of shares authorized to be repurchased										1,822,258
Restricted stock
Stock Based Compensation
Shares issued and outstanding					245,148			215,562
Restricted stock \| Executive officers and Board of Directors members
Stock Based Compensation
Shares vested		110,000
Shares granted		110,000
Executive officers \| Restricted stock
Stock Based Compensation
Shares granted			35,714	298,774
Vesting on December 31, 2019 \| Restricted stock
Stock Based Compensation
Vesting period				1 year 3 months 15 days
Vesting on December 31, 2021 \| Restricted stock
Stock Based Compensation
Vesting period				3 years 3 months 15 days
Manager's employees \| Restricted stock
Stock Based Compensation
Shares vested	10,000
Shares granted	40,000		137,944
Forfeiture of shares			4,168					714
Manager's employees \| Vesting on December 31, 2019 \| Restricted stock
Stock Based Compensation
Shares vested			66,888	149,386
Manager's employees \| Vesting on December 31, 2021 \| Restricted stock
Stock Based Compensation
Shares vested	10,000		65,760	149,388
Vesting period	9 months 15 days
Manager's employees \| Vesting on December 31, 2022 \| Restricted stock
Stock Based Compensation
Shares vested	20,000
Vesting period	1 year 9 months 15 days
Forecast \| Manager's employees \| Restricted stock
Stock Based Compensation
Forfeiture of shares							414

XML 59 R51.htm IDEA: XBRL DOCUMENT

Lease Arrangements (Details) $ in Thousands	6 Months Ended
Lease Arrangements (Details) $ in Thousands	Jun. 30, 2021 USD ($) item
Lease Arrangements
Number of vessels , generated revenue results \| item	60
Future minimum revenue expected to be earned
Remainder of 2021	$ 303,599
2022	548,859
2023	356,293
2024	161,609
2025	75,483
2026 and thereafter	50,014
Total future rentals	$ 1,495,857

XML 60 R52.htm IDEA: XBRL DOCUMENT

Earnings per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net Income	$ 372,837	$ 296,780	$ 38,496	$ 29,089	$ 669,617	$ 67,585
Denominator (number of shares in thousands):
Basic weighted average common shares outstanding	20,354		24,573		20,323	24,573
Effect of dilutive securities:
Share based compensation	245		216		234	216
Diluted weighted average common shares outstanding	20,599		24,789		20,557	24,789

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.