Diana Containerships Acquires Three Panamax Container Vessels

Thursday, April 14, 2011

ATHENS, GREECE, April 14, 2011 – Diana Containerships Inc. (NASDAQ: DCIX), a global shipping company specializing in the transportation of containers, today announced that it has signed three Memoranda of Agreement (one with Maersk Line UK Ltd., and two with A.P. Moller Singapore Pte. Ltd.) for the purchase of three Panamax container vessels, MV “Maersk Madrid”, MV “Maersk Malacca”, and MV “Maersk Merlion”.

The MV “Maersk Madrid” is a 1989-built vessel of 4,206 TEU capacity. The purchase price for the MV “Maersk Madrid” is U.S.$22.5 million.  The MV “Maersk Malacca” and MV “Maersk Merlion” are both 1990-built vessels of 4,714 TEU capacity each. The purchase price for the MV “Maersk Malacca” and MV “Maersk Merlion” is U.S.$24 million each. The expected dates of delivery from their previous owners to the Company for all three vessels are between May 20, 2011, and June 20, 2011.

Each of the three vessels is chartered to A.P. Møller-Maersk A/S for a period of minimum twenty-four (24) months plus or minus forty-five (45) days at a daily rate of U.S.$21,450 less a 2.25% commission.  The charterer has the option to employ each vessel for a further twelve (12) month period plus or minus forty-five (45) days, at a daily rate of U.S.$25,000 less a 2.25% commission starting twenty-four (24) months after delivery of the vessel to the charterer.  Each charter will commence on or about the day of that vessel’s delivery to the Company.

The employment of the three vessels is anticipated to generate approximately U.S.$43.5 million of gross revenues for the minimum scheduled period of the charters. 

The vessels are expected to be purchased partly with Company’s existing cash and partly with a bank loan which the Company is currently negotiating.

Source:Diana Containerships

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

Kintetsu World Express Acquires NOL's APL Logistics Shares

Neptune Orient Lines Limited (“NOL”) is pleased to announce that it has today completed the sale of its logistics business, APL Logistics Ltd (“APLL”), to Kintetsu World Express, Inc.

Crowley to Manage 4 Jones Act Ships for Pasha

Crowley Maritime Corp.’s ship management group has been awarded a new contract with Sunrise Operations LLC, a subsidiary of The Pasha Group, of San Rafael, Calif.

Matson Completes Horizon Lines Acquisition

Matson, Inc. has completed the acquisition of Horizon Lines, Inc. which includes Horizon's Alaska operations and the assumption of all non-Hawaii business liabilities.

Vessels

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

Unicom Selects the Ecochlor BWTS for 10 Tankers

Ecochlor, Inc. announced that Unicom Management Services (Cyprus) Ltd. (Unicom), acting for SCF Group, signed a 10-vessel agreement for the Ecochlor Ballast Water Treatment System (BWTS) in Limassol,

Crowley to Manage 4 Jones Act Ships for Pasha

Crowley Maritime Corp.’s ship management group has been awarded a new contract with Sunrise Operations LLC, a subsidiary of The Pasha Group, of San Rafael, Calif.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1229 sec (8 req/sec)