Exhibit
4.19  SUPPLEMENTAL
LETTER  To:Danaos
Corporation Trust Company Complex Ajeltake Road Ajeltake Island Majuro Marshall Islands MH 96960  6 August 2009  Loan Agreement dated 30 May 2008 (as amended and
supplemented, the Loan Agreement) made between (i) Danaos Corporation
(the Borrower), (ii) the banks and financial institutions listed in
Schedule 1 thereto as lenders (the Lenders) (iii) Deutsche Bank A.G. as
swap bank, and (iv) Deutsche Bank AG Filiale Deutschlandgeschäft as agent
and security trustee (the Agent) in respect of a facility of (originally)
US$180,000,000.  We refer to the Loan Agreement. Words and expressions defined in the
Loan Agreement shall have the same meaning when used in this Letter.  We further refer to our recent discussions regarding your request that
we consent to (inter alia) waive:  (a)the application
of the security cover provisions in Clause 15.1 of the Loan Agreement during
the period commencing 30 June 2009 (inclusive) and ending on 1
October 2010 (inclusive) (the Waiver Period);and  (b)the Borrowers
financial covenant set out in Clause 12.5(a) of the Loan Agreement during
the Waiver Period.  We hereby confirm our approval to your request subject to the following
conditions:  1Amendments to Loan Agreement and Finance Documents.The
arrangements in this Letter necessitate certain amendments to the Loan
Agreement and we confirm that the Loan Agreement shall be amended (with effect
from 30 June 2009) as follows:  (a)by construing
all references in the Loan Agreement to this Agreement and all references in
the Finance Documents (other than the Loan Agreement) to the Loan Agreement
as references to the Loan Agreement as amended and supplemented by this Letter;  (b)by construing
all references in the Loan Agreement and in the Finance Documents to a
Mortgage as references to that Mortgage as amended and supplemented by the
relevant Amendment Mortgage applicable thereto;  (c)by adding the
following definitions in Clause 1.1 thereof:  Amendment Mortgagemeans, in
respect of each Mortgage, an addendum thereto executed or to be executed by the
relevant Owner in favour of the Security Trustee in such form as the Lenders
may approve or require;  Waiver Periodmeans the
period commencing on 30 June 2009 (inclusive) and ending on 1
October 2010 (inclusive);;  (d)by deleting the
definition of Margin in Clause 1.1 thereof and replacing it with the following:


Marginmeans:  (a)           during the Waiver Period, 2.00 per cent. per annum; and  (b)           at all other times, 1.50 per cent. per annum.;  (e)           by
adding a new Clause 11.21 as follows:  11.21Increase of share capital.The Borrower undertakes that
it will use its best efforts (taking account of the prevailing conditions in
the equity markets including those relevant to shipping companies) to raise
capital of approximately $200,000,000 by no later than 31 December 2009.;  (f)            by
deleting Clause 12.3(b) thereof in its entirety and replacing it with the
following:  (b)         pay
any dividend or make any other form of distribution at any time:  (i)during the
Waiver Period; and  (ii)thereafter when
an Event of Default has occurred and is continuing or will result from the
payment of any dividend or the making of any other form of distribution;  (g)by adding the
words (other than during the Waiver Period in the case of Clause
12.5(a) below) after the words at all times in the first line of Clause
12.5 thereof; and  (h)by adding the
words at any time other than during the Waiver Period after words the
Borrower in the second line of Clause 15.1 thereof.  2Conditions.Our consent to your request is subject to the
following conditions:  (a)documents of
the kind specified in paragraphs 2, 3 and 5 of Schedule 3, Part A to the
Loan Agreement in relation to the Borrower and each Owner in connection with
their execution of this Letter and each Amendment Mortgage updated with
appropriate modifications to refer to this Letter;  (b)an original of
this Letter duly executed by the parties to it and counter-signed by each of
the Owners;  (c)receipt of an
original of each Amendment Mortgage duly signed by the relevant Owner and
evidence satisfactory to the Agent and its lawyers that the same has been
registered as a valid amendment to the applicable Mortgage in accordance with
the laws of Malta;  (d)evidence
satisfactory to the Lender that the Borrower has obtained in respect of all
other Financial Indebtedness incurred by the Borrower, waivers similar to those
contained in this Letter from the relevant banks and financial institutions;
and  (e)favourable
opinions from lawyers appointed by the Agent on such matter concerning the laws
of Marshall Islands, Liberia and Malta and such other relevant jurisdiction as
the Agent may require.  3Representations and Warranties.The Borrower represents and
warrants to the Agent that:  (a)the
representations and warranties in Clause 10 of the Loan Agreement, as amended
and supplemented by this Letter, remain true and not misleading if repeated on
the date of this Letter with reference to the circumstances now existing; and  2


(b)the
representations and warranties in the Finance Documents (other than the Loan
Agreement) to which it is a party, as amended and supplemented by this Letter remain
true and not misleading if repeated on the date of this Letter with reference
to the circumstances now existing.  4Fees and Expenses.The Borrower will pay to the Agent on the
date of this Letter, a non-refundable amendment fee of $400,000.  5Notices.The provisions
of Clause 28 (Notices) of the Loan Agreement shall apply as if they were
expressly incorporated herein.  6Governing
law.This Letter shall be governed by and construed in accordance with
English law and the provisions of Clause 30 (Law and Jurisdiction) of the Loan
Agreement shall apply to this Letter as if they were expressly incorporated
herein  Unless amended by the terms of this Letter, the provisions of the Loan
Agreement and the other Finance Documents shall remain in full force and
effect.  Please confirm your acceptance to the foregoing terms and conditions by
signing the acceptance and acknowledgement below.  Yours faithfully   /s/ Vassiliki GeorgopoulosVASSILIKI GEORGOPOULOSfor and on behalf ofDEUTSCHE BANK AG FILIALEDEUTSCHLANDGESCHÄFT(in its capacity as Agent for and on behalf ofall the Lenders and the other Creditor Parties)   We hereby acknowledge
receipt of the above Letter and confirm our agreement to the terms of the same.   /s/ Iraklis ProkopakisIRAKLIS PROKOPAKISfor and on behalf ofDANAOS CORPORATION  Date: 6 August 2009  3


We hereby confirm and acknowledge that we have read and understood the
terms and conditions of the above Letter and agree in all respects to the same
and confirm that the Finance Documents to which we are a party shall remain in
full force and effect and shall continue to stand as security for the
obligations of the Borrower under the Loan Agreement.   /s/ Efstathios Sfyris
  
  /s/ Zoe LappaEFSTATHIOS SFYRIS
  
  ZOE LAPPAfor and on behalf of
  
  for and on behalf ofDANAOS SHIPPING CO. LTD.
  
  BAYVIEW SHIPPING INC.   /s/ Zoe Lappa
  
  /s/ Zoe LappaZOE LAPPA
  
  ZOE LAPPAfor and on behalf of
  
  for and on behalf ofCHANNELVIEW MARINE INC.
  
  BALTICSEA MARINE INC.   Date: 6 August 2009  4


SUPPLEMENTAL LETTER  To:Danaos Corporation Trust Company Complex Ajeltake Road Ajeltake Island Majuro Marshall Islands MH 96960  15 December 2009  Loan Agreement dated 30
May 2008 (as amended and supplemented, the Loan Agreement) made between
(i) Danaos Corporation (the Borrower), (ii) the banks and financial
institutions listed in Schedule 1 thereto as lenders (the Lenders) (iii) Deutsche
Bank AG as swap bank, and (iv) Deutsche Bank AG Filiale Deutschlandgeschäft as agent
and security trustee (the Agent) in respect of a facility of (originally)
US$180,000,000.  We refer to the Loan Agreement. Words and
expressions defined in the Loan Agreement shall have the same meaning when used
in this Letter.  We further refer to the supplemental letter
agreement dated 6 August 2009 (the Supplemental Letter)which amended and supplemented the
Loan Agreement.  Pursuant to discussions between us we have agreed
to vary the application of the security cover provisions in clause 15.1 of the
Loan Agreement so that the application of such provisions is no longer waived
during the period commencing on 1 October 2009 and ending on the last day
of the Waiver Period (Reduced Percentage Period) as
referred to in the Supplemental Letter but instead the security cover
requirement will be reduced from 125 per cent. to 85 per cent. during the
Reduced Percentage Period.  1Amendments to Loan Agreement and Finance Documents.The arrangements in this Letter necessitate certain amendments to the Loan
Agreement and we confirm that the Loan Agreement shall be amended (with effect
from 1 October 2009) as follows:  (a)by construing all references in the Loan Agreement to this Agreement and
all references in the Finance Documents (other than the Loan Agreement) to the
Loan Agreement as references to the Loan Agreement as amended and
supplemented by this Letter;  (b)by deleting the words at any time other than during the Waiver Period
after words the Borrower in its entirety in the second line of Clause 15.1
thereof and replacing it with the following:  at any time other than during the period commencing
on 30 June 2009 and ending on 30 September 2009,;  (c)by deleting the reference to 125 per cent. in Clause 15.1 thereof and
replacing it with the Relevant Percentage; and  (d)by adding at the end of Clause 15.1 thereof the following new paragraph:  In this Clause 15.1, Relevant
Percentagemeans
during the period commencing on 1 October 2009 and ending on the last day
of the Waiver Period, 85 per cent. and at all other times 125 per cent..  2Conditions.The
amendments to the Loan Agreement set out in paragraph 1 are subjectto the following conditions:


(a)documents of the kind specified in paragraphs 2, 3 and 5 of Schedule 3,
Part A to the Loan Agreement in relation to the Borrower and each Owner in
connection with their execution of this Letter updated with appropriate
modifications to refer to this Letter;  (b)an original of this Letter duly executed by the parties to it and
counter-signed by each of the Owners; and  (c)favourable opinions from lawyers appointed by the Agent on such matter
concerning the laws of Marshall Islands, Liberia and Malta and such other
relevant jurisdiction as the Agent may require.  3Representations and Warranties.The Borrower represents and warrants to the Agentthat:  (a)the representations and warranties in Clause 10 of the Loan Agreement, as
amended and supplemented by this Letter, remain true and not misleading if
repeated on the date of this Letter with reference to the circumstances now
existing; and  (b)the representations and warranties in the Finance Documents (other than the
Loan Agreement) to which it is a party, as amended and supplemented by this
Letter remain true and not misleading if repeated on the date of this Letter
with reference to the circumstances now existing.  4Notices.The
provisions of Clause 28 (Notices) of the Loan Agreement shall apply as ifthey were expressly incorporated herein.  5Governing law.This
Letter shall be governed by and construed in accordance with English law and
the provisions of Clause 30 (Law and Jurisdiction) of the Loan Agreement shall
apply to this Letter as if they were expressly incorporated herein  Unless amended by the terms of this Letter, the
provisions of the Loan Agreement and the other Finance Documents shall remain
in full force and effect.  Please confirm your acceptance to the foregoing
terms and conditions by signing
the acceptance and acknowledgement below.  Yours faithfully   /s/ Maria-Chryssoula KarpidaMARIA-CHRYSSOULA KARPIDAfor and on behalf ofDEUTSCHE BANK AG FILIALEDEUTSCHLANDGESCHÄFT(inits
  capacity as Agent for and on behalf ofall the Lenders and the other Creditor
  Parties)  2


We
hereby acknowledge receipt of the above Letter and confirm our agreement to the
terms of the same.   /s/ John CoustasJOHN COUSTASfor and on behalf ofDANAOS CORPORATION  Date: 15 December 2009   We hereby confirm and acknowledge that we have
read and understood the terms and conditions of the above Letter and agree in
all respects to the same and confirm that the Finance Documents to which we are
a party shall remain in full force and effect and shall continue to stand as
security for the obligations of the Borrower under the Loan Agreement.   /s/ Efstathios Sfyris
  
  /s/ Zoe LappaEFSTATHIOS SFYRIS
  
  ZOE LAPPAfor and on behalf of
  
  for and on behalf ofDANAOS SHIPPING CO. LTD.
  
  BAYVIEW SHIPPING INC.   /s/ Zoe Lappa
  
  /s/ Zoe LappaZOE LAPPA
  
  ZOE LAPPAfor and on behalf of
  
  for and on behalf ofCHANNELVIEW MARINE INC.
  
  BALTICSEA MARINE INC.   Date: 15 December 2009  3