Diana Containerships and Maersk reach charter agreement

Diana Containerships and Maersk reach charter agreement

Aug 3, 2015

ATHENS, GREECE – 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 Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Great. The gross charter rate is US$14,750 per day, minus a 5% commission paid to third parties, for a period of minimum six (6) months to maximum nine (9) months. The charter is expected to commence on August 15, 2015.

The charterer has the option to employ the vessel for a further nine (9) month period, plus or minus thirty (30) days, at a gross daily rate of US$21,000 minus a 5% commission paid to third parties, starting nine (9) months after delivery of the vessel to the charterer. This option must be declared by the charterer not later than five (5) months after the delivery date to the charterer.

The “Great” is a 5,576 TEU container vessel built in 2004.

This employment is anticipated to generate approximately US$2.66 million of gross revenue for the minimum scheduled period of the charter.

Diana Containerships Inc.’s fleet currently consists of 12 container vessels (4 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). The Company also expects to take delivery of two Post-Panamax container vessels, the first by mid-September 2015 and the other by the end of November 2015. A table describing the current Diana Containerships Inc. fleet can be found on the Company’s website, www.dcontainerships.com. Information included...