Diana Expands Container Ship Fleet

Diana Containerships said it took delivery on Feb. 17 of the APL Sardonyx, a container ship with a capacity of approximately 4,750 20-foot equivalent units.

The delivery of the 14-year-old ship brings Diana’s fleet of second-hand container ships to eight. Diana also said Tuesday it will buy another Panamax container ship, the APL Spinel, which is expected to be delivered by the end of this month.

The APL Sardonyx is chartered to APL (Bermuda) for a minimum period of 24 months a daily rate of $24,750, with an option to extend for another 123 months. Diana said it expects the vessel charter to generate $16.7 million of revenue for the minimum period of the charter.

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Separately, Diana also announced Tueday that it has completed the drawdown of an additional $8.4 million under the previously announced revolving credit facility of up to $100 million with The Royal Bank of Scotland. The credit facility can be increased to $150 million subject to further syndication.

With the drawdown announced Tuesday, Diana has completed the drawdown of a total of $83.9 million this revolving credit facility.

-- Contact Peter T. Leach at pleach@joc.com. Follow him on Twitter @petertleach.