Diana Containerships Inc. Announces Direct Continuation of Time Charter Contract for m/v Sagitta with Hapag-Lloyd

Athens, Greece - February 1, 2018

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 agreed to extend the present time charter contract with Hapag-Lloyd AG, Hamburg, for one of its Panamax container vessels, the m/v Sagitta. The gross charter rate is US$8,400 per day, minus a 1.25% commission paid to third parties, for a period of minimum three (3) months to maximum five (5) months. The new charter period will commence on February 15, 2018.

The “Sagitta” is a 3,426 TEU container vessel built in 2010.

The employment extension of “Sagitta” is anticipated to generate approximately US$756,000 of gross revenue for the minimum scheduled period of the time charter.

Diana Containerships Inc.’s fleet currently consists of 11 container vessels (6 Post-Panamax and 5 Panamax). The Company, as previously announced, has entered into an agreement to sell two Post-Panamax container vessels, which are expected to be delivered to their new owners at the latest by March 30, 2018. 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