ATHENS, Greece, Jan. 9, 2012 /PRNewswire/ -- Box Ships Inc. (NYSE: TEU) ("Box Ships"or the Company), a global shipping company specializing in the transportation of containers, announced today that it has appointed Allen & Caron Inc.("Allen & Caron"), in New York City with offices in Irvine, California and London, as its agency for investor relations. Chairman, President and Chief Executive Officer Michael Bodouroglou said, "We selected Allen & Caron because of their well-established reputation and track record for helping growing companies develop effective communications and for increasing their exposure to institutional investors both in the US and in Europe. We look forward to working with them." Joseph Allen, the Chairman and CEO of Allen & Caron commented, "The management team at Box Ships has extensive experience in the shipping industry, and we believe their chartering strategy is quite attractive to investors. They focus on short- to medium-term time charters of one to five years with staggered maturities, which provides the benefit of stable cash flows while preserving the flexibility to capitalize on potentially rising rates when the current time charters expire." About Box Ships Inc.Box Ships is an Athens, Greece-based international shipping company specializing in the transportation of containers. The Company's current fleet consists of seven containerships with a total carrying capacity of 33,237 TEU and a TEU weighted average age of 4.1 years. The Company's shares trade on the New York Stock Exchange under the symbol "TEU." For more information, visit www.box-ships.com. The information contained on the Company's website does not constitute part of this press release. About Allen & Caron Inc.Allen & Caron is a full-service corporate, investor and marketing communications agency serving the needs of public companies. The Allen & Caron international client base includes emerging growth companies in a range of industry segments. The firm has offices in Irvine, California; New York City and London; and has an affiliate relationship with a leading investor relations firm in Italy, which has offices in Milan and Rome. For more information, visit:
In trading on Wednesday, shares of Box Ships Inc's 9.00% Series C Cumulative Redeemable Perpetual Preferred Shares were yielding above the 12% mark based on its quarterly dividend (annualized to $2.25), with shares changing hands as low as $18.55 on the day. This compares to an average yield of 9.96% in the "Shipping" preferred stock category, according to Preferred Stock Channel.