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Financial Instruments (Details) (USD $)
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12 Months Ended |
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2010
item
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| Effect of interest rate swap hedges on results |
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|
|
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| Unrealized gains/(losses) |
$ 24,915,000 |
$ 22,121,000 |
$ (739,000) |
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| Unrealized and realized losses on interest rate swaps |
(98,713,000) |
(126,150,000) |
(155,173,000) |
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| Interest rate swap contracts |
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|
|
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| Financial Instruments |
|
|
|
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| Unrealized gains/(losses) related to fair value changes |
114,200,000 |
139,400,000 |
64,900,000 |
|
| Hedge ineffectiveness gains (losses) |
0 |
0 |
1,800,000 |
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| Interest rate swap contracts | Cash Flow Hedges |
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|
|
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| Financial Instruments |
|
|
|
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| Fair Value of swap liabilities |
(52,539,000) |
(168,508,000) |
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| Fair value of swap assets |
(53,420,000) |
(167,622,000) |
|
|
| Unrealized losses reclassified from accumulated OCI into earnings |
88,900,000 |
116,600,000 |
67,600,000 |
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| Change in fair value |
114,200,000 |
139,400,000 |
105,400,000 |
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| Effect of interest rate swap hedges on results |
|
|
|
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| Total realized losses |
(120,600,000) |
(145,600,000) |
(159,700,000) |
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| Realized losses deferred in Other Comprehensive Loss |
0 |
0 |
7,000,000 |
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| Realized losses expensed in consolidated Statements of Operations |
(120,600,000) |
(145,600,000) |
(152,700,000) |
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| Amortization of deferred realized losses |
(4,000,000) |
(4,000,000) |
(3,500,000) |
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| Unrealized gains/(losses) |
25,200,000 |
22,800,000 |
(900,000) |
|
| Unrealized and realized losses on interest rate swaps |
(99,400,000) |
(126,800,000) |
(157,100,000) |
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| Number of new buildings cancelled which resulted in over-hedging position |
|
|
|
3 |
| Realized losses attributable to over-hedging position |
0 |
0 |
19,000,000 |
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| The Royal Bank of Scotland | Interest rate swap contracts | 5.07% p.a. |
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|
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| Financial Instruments |
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|
|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
5.07% |
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|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
(2,011,000) |
(11,586,000) |
|
|
| The Royal Bank of Scotland | Interest rate swap contracts | 4.922% p.a. |
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|
|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
|
| Fixed Rate (Danaos pays) (as a percent) |
4.922% |
|
|
|
| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
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|
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| Fair Value of swap liabilities |
|
(2,052,000) |
|
|
| The Royal Bank of Scotland | Interest rate swap contracts | 4.9775% p.a. |
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|
|
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| Financial Instruments |
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|
|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
4.9775% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
|
(6,732,000) |
|
|
| The Royal Bank of Scotland | Interest rate swap contracts | 5.12% p.a. |
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| Financial Instruments |
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|
|
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| Notional Amount on Effective Date |
100,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
5.12% |
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|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
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|
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| Fair Value of swap liabilities |
(4,246,000) |
(8,919,000) |
|
|
| The Royal Bank of Scotland | Interest rate swap contracts | 5.07% p.a. |
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|
|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
100,000,000 |
|
|
|
| Fixed Rate (Danaos pays) (as a percent) |
5.07% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
(4,248,000) |
(8,869,000) |
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| HSH Nordbank | Interest rate swap contracts | 4.855% p.a. |
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|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
400,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
4.855% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
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|
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| Fair Value of swap liabilities |
|
(17,298,000) |
|
|
| CITI | Interest rate swap contracts | 5.124% p.a. |
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| Financial Instruments |
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|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
5.124% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
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|
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| Fair Value of swap liabilities |
(2,895,000) |
(12,520,000) |
|
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| CITI | Interest rate swap contracts | 5.1775% p.a. |
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|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
5.1775% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
(3,008,000) |
(12,738,000) |
|
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| CITI | Interest rate swap contracts | 4.9975% p.a. |
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|
|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
250,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
4.9975% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
|
(9,797,000) |
|
|
| CITI | Interest rate swap contracts | 5.1% p.a. |
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| Financial Instruments |
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|
|
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| Notional Amount on Effective Date |
250,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
5.10% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
(10,167,000) |
(21,774,000) |
|
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| CITI | Interest rate swap contracts | 4.98% p.a. |
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|
|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
100,000,000 |
|
|
|
| Fixed Rate (Danaos pays) (as a percent) |
4.98% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
(4,249,000) |
(8,754,000) |
|
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| CITI | Interest rate swap contracts | 4.695% p.a. |
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|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
|
| Fixed Rate (Danaos pays) (as a percent) |
4.695% |
|
|
|
| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
(9,524,000) |
(17,870,000) |
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|
| Eurobank | Interest rate swap contracts | 4.8125% p.a. |
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| Financial Instruments |
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|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
4.8125% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair Value of swap liabilities |
(8,428,000) |
(17,067,000) |
|
|
| Eurobank | Interest rate swap contracts | 4.755% p.a. |
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|
|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
200,000,000 |
|
|
|
| Fixed Rate (Danaos pays) (as a percent) |
4.755% |
|
|
|
| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
|
| Fair Value of swap liabilities |
(3,763,000) |
(12,532,000) |
|
|
| ABN Amro | Interest rate swap contracts | 1.4975% p.a. |
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|
|
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
325,000,000 |
|
|
|
| Fixed Rate (Danaos pays) (as a percent) |
1.4975% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair value of swap assets |
(617,000) |
382,000 |
|
|
| ABN Amro | Interest rate swap contracts | 1.4125% p.a. |
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| Financial Instruments |
|
|
|
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| Notional Amount on Effective Date |
250,000,000 |
|
|
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| Fixed Rate (Danaos pays) (as a percent) |
1.4125% |
|
|
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| Floating Rate (Danaos receives) (as a percent) |
USD LIBOR 3M BBA |
|
|
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| Fair value of swap assets |
$ (264,000) |
$ 504,000 |
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