Diana Containerships Buys Two New Vessels

Diana Containerships Buys Two New Vessels

Diana Containerships, a majority-owned subsidiary of the Greek dry bulk shipowner Diana Shipping, acquired two new container ships 10 weeks after its establishment.

The investment arm of the company paid around $45.5 million each for the vessels built by Germany's Blohm + Voss Nordseewerke shipyard. Each ship has a capacity of 3,400 20-foot equivalent units.

The first ship, due to be delivered on June 25, will be chartered to Maersk Line at a gross daily rate of $16,000 for a minimum of nine months to a maximum of 12 months.

The second vessel is scheduled for delivery between July 5 and July 15.

The ships reportedly were ordered by a German charter shipowner, which sold them on to Diana Containerships.

Diana Shipping paid $50 million for a 55 percent stake in Diana Containerships in April with the balance of the shares being acquired by institutional and accredited investors in a private transaction.

Diana said the new company would invest primarily in container ships during the next 12 to 18 months.

Shipyards have sharply increased quotes for container ships in recent months with a 3,500-TEU vessel climbing to around $41.5 million from $36 million in 2009 but down from $60 million in 2008.

-- Contact Bruce Barnard at brucebarnard47@hotmail.com.