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Diana Containerships Inc. Announces The Delivery Of A Post-Panamax Container Vessel, The M/v Puelo

ATHENS, Greece, Aug. 23, 2013 (GLOBE NEWSWIRE) -- Diana Containerships Inc. (Nasdaq:DCIX), a global shipping company specializing in owning and operating containerships, has announced that yesterday, through a separate wholly-owned subsidiary, it took delivery of the m/v "Puelo", a 2006-built Post-Panamax container vessel of approximately 6,500 TEU capacity that the Company entered into an agreement to purchase on August 8, 2013.

As previously announced, the "Puelo" 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 the vessel 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 charter commenced today.

The Company also announced that, through the same wholly-owned subsidiary, it has completed the drawdown of US$50 million under the previously announced loan agreement with Diana Shipping Inc.

Including the newly delivered "Puelo", Diana Containerships Inc.'s fleet currently consists of 9 container vessels (1 Post-Panamax and 8 Panamax) as well as 1 Post-Panamax container vessel expected to be delivered to the Company in mid-September 2013. 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 newbuilding contracts with shipyards for new containerships.

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