Diana Containerships, a NASDAQ-listed owner of container ships for charter, said Thursday it agreed to buy three Maersk Line Panamax vessels, one from Maersk Line UK and two others from A.P. Moller Singapore.
Under the memoranda of agreement, Maersk Line will then charter back the three vessels, the Maersk Madrid, the Maersk Malacca and the Maersk Merlion, at a daily rate of $21,450 for a minimum period of 24 months, with options for another 12 months at a daily rate of $25,000.
The purchase price for the Maersk Madrid, which was built in 1989 and has a capacity of 4,206 20-foot equivalent units, is $22.5 million.
The purchase price for the Maersk Malacca and the Maersk Merlion, which were both built in 1990 and have capacities of 4,714 TEUs, is $24 million apiece. The expected dates of delivery for all three vessels are between May 20 and June 20.
Diana Containerships is an affiliate of Diana Shipping, the NYSE-listed dry bulk ship owner that spun off 80 percent of its majority-owned container shipping unit through a separate listing on NASDAQ at the beginning of 2011.
Diana said the charter arrangements for the three ships are expected to generate approximately $43.5 million of gross revenue for the minimum scheduled period of the charters.
Diana said it expects to buy the ships with its own cash and a bank loan that it is negotiating.