Diana Containerships Inc. Announces The Delivery Of A Panamax Container Vessel, The M/v Hanjin Malta

ATHENS, Greece, March 19, 2013 (GLOBE NEWSWIRE) -- Diana Containerships Inc. (Nasdaq:DCIX), a global shipping company specializing in owning and operating containerships, today announced that on March 15, 2013 the Company, through a separate wholly-owned subsidiary, has taken delivery of the m/v "Hanjin Malta," a 1993-built Panamax container vessel of 4,024 TEU capacity that the Company entered into an agreement to purchase in February 2013.

The Hanjin Malta is time chartered to Hanjin Shipping Co. Ltd., Seoul, for a period of minimum thirty-six and a half (36.5) months to maximum thirty-eight (38) months at a gross rate of US$25,550 per day less US$150.00 per day commission paid to third parties.

The employment of the vessel is anticipated to generate approximately US$27.98 million of gross revenues for the minimum agreed period of the charter.

Including the newly delivered m/v "Hanjin Malta," Diana Containerships Inc.'s fleet currently consists of 11 Panamax container vessels. 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.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

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