Post-Panamax containership, m/v Pucon.
Image by Diana Containerships Inc.

Diana Containerships Inc. Announces Direct Continuation of Time Charter Contract for m/v Pucon with OOCL

Athens, Greece - May 25, 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 Orient Overseas Container Line Ltd., Hong Kong, for one of its Post-Panamax container vessels, the m/v Pucon. The gross charter rate is US$18,000 per day, minus a 3.75% commission paid to third parties, for a period of minimum eight (8) months to maximum twelve (12) months. The new charter period will commence on June 22, 2018. The m/v Pucon is currently chartered, as previously announced, at a gross charter rate of US$10,750 per day, minus a 3.75% commission paid to third parties.

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

The employment extension of “Pucon” is anticipated to generate approximately US$4.32 million of gross revenue for the minimum scheduled period of the time charter extension.

Upon completion of the previously announced sales of two Post-Panamax container vessels, Diana Containerships Inc.’s fleet will consist of 4 container vessels (2 Post-Panamax and 2 Panamax). A table describing the current Diana Containerships Inc. fleet can be found on the Company’s website, 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