Diana Extends Containership Time Charter

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract for one of its Post-Panamax container vessels, the m/v Pucon, for a period of up to minimum May 10, 2016 to maximum July 20, 2016.

The new gross charter rate will be $17,000 per day, minus a 3.75 percent commission paid to third parties. The new charter period will commence on August 20, 2015.

As previously announced on August 13, 2013, based on the present time charter contract, the charterers will pay the owners a compensation for the early redelivery of the vessel equal to the amount of $6,000 per day for the outstanding period between August 20, 2015 and up to March 20, 2016.

The Pucon is a 6,541 TEU container vessel built in 2006.

This employment is anticipated to generate approximately $4.42 million of gross revenue for the minimum scheduled period of the charter extension. The owners are also expected to receive $1.278 million as a compensation for the early redelivery of the vessel.