The panamax “YM Los Angeles” delivered to Diana Containerships Inc

Chartering, Container shipping, Containers, Fixtures, Markets, News, Sales and Purchases, Stock Markets — By on April 9, 2015 at 1:24 PM

Diana Shipping officesDIANA CONTAINERSHIPS INC. ANNOUNCES THE DELIVERY OF A PANAMAX CONTAINER VESSEL, THE M/V YM LOS ANGELES        

ATHENS, GREECE, April 9, 2015 – Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v YM Los Angeles, a 2006-built Panamax container vessel of approximately 5, 000 TEU capacity that the Company entered into an agreement to purchase on March 19, 2015.

As previously announced, the “YM Los Angeles” is chartered to Yang Ming (UK) Ltd., at a gross charter rate of US$21, 000 per day less US$350 per day commission paid to third parties. The charterer has the option to redeliver the vessel at any time between October 19, 2016 and February 19, 2017. The charterer has also the option to employ the vessel for a further twenty-two (22) to twenty-six (26) month period at the same daily gross charter rate less US$350 per day commission paid to third parties. The optional period if exercised will start on December 19, 2016 and must be declared six (6) months prior to this date.

Including the newly delivered “YM Los Angeles”, Diana Containerships Inc.’s fleet currently consists of 12 container vessels (4 Post-Panamax and 8 Panamax) as well as 1 Panamax container vessel expected to be delivered to the Company by mid-April 2015. A table describing the current Diana Containerships Inc. fleet can be found on the Company’s website, www.dcontainerships.com. Information included on the Company’s website does not constitute a part of this press release.

About the Company

Diana Containerships Inc. is a leading global provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes.

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