Diana Containerships to Acquire Two Post-Panamax Container Vessels

Diana Containerships Inc., 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).

Diana Containerships, August 13, 2013