Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it 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 Rotterdam and the m/v Hamburg.

The 2008-built Rotterdam and 2009- built Hamburg are both of approximately 6,500 TEU capacity, and the purchase prices are $37.5 million and $38.5 million, respectively. Rotterdam is expected to be delivered to the company by mid-September 2015, while Hamburg is expected by the end of November 2015

The m/v Hamburg is chartered to MSC-Mediterranean Shipping Co. S.A., Geneva, at a gross charter rate of $14,000 per day minus 3.75 percent commission paid to third parties. Based on the existing time charterparty, the charterer has the option to redeliver the vessel at any time between January 13, 2016 and March 13, 2016. The closing of the transaction for the purchase of m/v Hamburg is subject to the signing of a novation agreement to the time charter contract of the vessel.

The news follows on Diana's announcement of plans to sell Panamax containership m/v Cap Domingo for a gross sale price of $24,250,000 earlier this week.