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Diana Containerships Inc. Announces Agreement To Acquire Two Post-Panamax Container Vessels

ATHENS, Greece, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Diana Containerships Inc. (Nasdaq:DCIX), a global shipping company specializing in owning and operating containerships, today announced that it has signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v "Puelo" and the m/v "Pucon".

The m/v "Puelo" and m/v "Pucon" are both 2006-built vessels of approximately 6,500 TEU capacity. The purchase price for each vessel is US$47 million. The sellers are expected to deliver to the Company the m/v "Puelo" by the end of August, 2013 and the m/v "Pucon" in mid-September, 2013.

Each of the two vessels is chartered to Compania Sud Americana de Vapores S.A., Valparaiso, Chile, for a period of minimum eighteen (18) months to maximum thirty (30) months at a gross charter rate of US$27,900 per day less US$150.00 per day commission paid to third parties. In case either of the vessels is redelivered to the Company in any period between the earliest and the maximum redelivery period after delivery, then the charterers will pay a lump sum equivalent to US$6,000 per day to the owners for the outstanding period between the redelivery date and up to the 30 months. The time-charter parties for both vessels are to commence upon delivery of the vessels to the Company by the sellers.

Including the aforementioned vessels, Diana Containerships Inc.'s fleet will consist of 10 container vessels (2 Post-Panamax and 8 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 Marshall Islands corporation founded in 2010 to own and operate containerships and pursue containership acquisition opportunities. Diana Containerships Inc. intends to continue to capitalize on investment opportunities by purchasing additional containerships in the secondhand market, from other companies, shipyards and lending institutions, and may also enter into new building contracts with shipyards for new containerships.

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