Diana Containerships Reports Q1 Net Loss

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported a net loss of $0.5 million for the first quarter of 2015, compared to net income of $0.3 million for the respective period of 2014.

Time charter revenues, net of prepaid charter revenue amortization, were $13.9 million for the first quarter of 2015, compared to $13.5 million for the same period of 2014, mainly due to the decrease of prepaid charter revenue amortization and the increase in ownership days resulting from the enlargement of our fleet, partly offset by decreased average time charter rates.

The company has declared a cash dividend on its common stock of $0.0025 per share with respect to the first quarter of 2015. The cash dividend will be payable on or around June 10, 2015 to all shareholders of record as at May 26, 2015. As of March 31, 2015 the company had 73,890,581 shares of common stock issued and outstanding.