Diana Containerships Sheds Panamax Boxship

Press release - Diana Containerships has signed a Memorandum of Agreement to sell to an unaffiliated third party the 1995-built vessel "Garnet" (formerly "APL Garnet") for demolition, with delivery due to the buyer by the end of September 2015, for a sale price of approximately $7.85 million before commissions.

Upon completion of the aforementioned sale, Diana Containerships Inc.'s fleet will consist of 13 container vessels (5 Post-Panamax and 8 Panamax).

The Company also expects to take delivery of one Post-Panamax container vessel by the end of November 2015.