Diana Containerships Inc. Announces Time Charter Contract for m/v Puelo with Mitsui O.S.K. Lines

Athens, Greece - May 25, 2017

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 has entered into a time charter contract with Mitsui O.S.K. Lines, Ltd., for one of its Post-Panamax container vessels, the m/v Puelo. The gross charter rate is US$14,600 per day, minus a 1.25% commission paid to third parties, for a period of about 50 days. The charter is expected to commence on June 13, 2017. The m/v Puelo is currently chartered, as previously announced, to MSC-Mediterranean Shipping Co. S.A., Geneva at a gross charter rate of US$6,500 per day, minus a 3.75% commission paid to third parties.

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

This employment is anticipated to generate approximately US$730,000 of gross revenue for the scheduled period of the time charter.

Diana Containerships Inc.’s fleet currently consists of 12 container vessels (6 Post-Panamax and 6 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.

Diana Containerships Inc. press release