Diana Containerships fixes m/v Puelo on period to MSC

Chartering, Container shipping, Markets, Stock Markets — By on May 4, 2016 at 3:37 PM


ATHENS, GREECE, May 4, 2016 – 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 entered into a time charter contract with MSC-Mediterranean Shipping Co. S.A., Geneva,  for one of its Post-Panamax container vessels, the m/v Puelo. The gross charter rate is US$6, 500 per day, for a period of twelve (12) months. The charterer has the option to further employ the vessel for a twelve (12) month period, at a gross charter rate of US$8, 600 per day starting twelve (12) months after delivery of the vessel to the charterer. After that period the charterer has the option to employ the vessel for a further twelve (12) month period, at a  gross charter rate of US$20, 000 starting twenty-four (24) months after delivery of the vessel to the charterer.

Charterer has the option to employ the vessel for plus or minus thirty (30) days on final declaration.  All gross charter rates include a 3.75% commission paid to third parties. Options must be declared by the charterer not later than nine (9) months for the first option and twenty (20) months for the second option after the delivery of the vessel to the charterer. The charter is expected to commence on May 18, 2016.

The “Puelo” is a 6, 541 TEU container vessel built in 2006.

This employment is anticipated to generate approximately US$2.15 million of gross revenue for the minimum scheduled period of the charter.

Diana Containerships Inc.’s fleet currently consists of 13 container vessels (6 Post-Panamax and 7 Panamax). 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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