Diana Containerships Inc., announces agreement to acquire two Post-Panamax container vessels

Container shipping, Containers, Markets, News, Sales and Purchases, Stock Markets — By on July 30, 2015 at 12:17 PM

WP_20150505_078ATHENS, GREECE, July 30, 2015 – Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v Rotterdam and the m/v Hamburg.

The “Rotterdam” is a 2008-built vessel of approximately 6, 500 TEU capacity and the purchase price is US$37.5 million. The m/v Rotterdam is expected to be delivered to the Company by mid-September 2015.

The “Hamburg” is a 2009-built vessel of approximately 6, 500 TEU capacity and the purchase price is US$38.5 million. The m/v Hamburg is expected to be delivered to the Company by the end of November 2015.

The m/v Hamburg is chartered to MSC-Mediterranean Shipping Co. S.A., Geneva, at a gross charter rate of US$14, 000 per day minus 3.75% commission paid to third parties. Based on the existing time charterparty, the charterer has the option to redeliver the vessel at any time between January 13, 2016 and March 13, 2016. The closing of the transaction for the purchase of m/v Hamburg is subject to the signing of a novation agreement to the time charter contract of the vessel.

Including the aforementioned vessels, Diana Containerships Inc.’s fleet will consist of 14 container vessels (6 Post-Panamax and 8 Panamax) as well as a Panamax container vessel, the m/v Cap Domingo, presumed sold to be delivered to its new owners by mid-March 2016 (however, the closing of this sale is subject to buyer’s Board of Directors approval not later than September 4, 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 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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