Box Ships Takes Delivery Of Third Containership

ATHENS, Greece, May 9, 2011 – Box Ships Inc., (NYSE: TEU), or the Company, a global shipping company specializing in the transportation of containers, announced today that it has taken delivery of the Maule, a 6,589 TEU container vessel built in 2010, from an unaffiliated third party. This vessel has a fixed rate period time charter term of five years (with charter option of plus / minus 30 days) with CSAV Valparaiso Chile at a gross daily charter rate of $38,000.

The Maule is the third of the six vessels comprising the Company’s initial fleet to be delivered. The remaining three vessels include two 5,095 TEU 2007 built containerships, the CMA CGM Kingfish and the CMA CGM Marlin, and one 4,546 TEU 2006 built containership, the MSC Siena. Following the delivery of these remaining three vessels, Box Ships’ fleet will be comprised of six containerships with a TEU weighted-average age of 2.5 years, a total capacity of 28,177 TEUs and a weighted-average remaining charter duration of 35.3 months.
 

Source: Box Ships