Container ship owner Danaos makes foray into energy with dive in Alaska LNG project

Greek company invests part of its huge cash pile to gain a foothold in the natural gas business

Danaos Corp, one of the world’s largest independent container ship owners, is expanding into the energy business with a $50m equity investment in a project to export LNG from Alaska.

The strategic partnership with the Glenfarne Group, which was announced on Tuesday, is part of a diversification strategy. US-listed Danaos is seeking profitable, alternative outlets for the $1bn cash pile that it has assembled during the container ship boom over the last few years.

source:www.tradewindsnews.com