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Diana Containerships Inc. Announces the Delivery of Two Panamax Container Vessels

Thursday, 09 February 2012 | 00:00
Diana Containerships Inc., a global shipping company specializing in owning and operating containerships, yesterday announced that the Company took delivery of two Panamax container vessels, m/v "Cap San Marco" and m/v "Cap San Raphael", on Monday, February 6, 2012.
The m/v "Cap San Marco" is a 2001-built vessel and the m/v "Cap San Raphael" is a 2002-built vessel, each having an approximate capacity of 3,750 TEU. The purchase price for each vessel was US$33 million.
As previously announced, each of the two vessels is chartered back to the sellers, Reederei Santa Containerschiffe GmbH & Co. KG, for a period of thirty-six (36) months plus or minus forty-five (45) days. The net daily charter hire rate for each vessel will be US$22,750 during the first twelve (12) months, US$22,850 during the second twelve (12) months and US$23,250 during the third twelve (12) months. Both charters commenced upon the vessels' delivery to the Company.
The employment of the two vessels is anticipated to generate approximately US$47.5 million of revenues for the minimum agreed period of the charters.
Separately, Diana Containerships Inc. also announced that, to date, it has completed the drawdown of a total of US$75.5 million under the previously announced revolving credit facility of up to US$100 million with The Royal Bank of Scotland plc, which may be increased to US$150 million subject to further syndication.
Diana Containerships Inc. is a Marshall Islands corporation founded in 2010 to own and operate containerships and pursue containership acquisition opportunities. Diana Containerships Inc. intends to continue to capitalize on investment opportunities by purchasing additional containerships in the secondhand market, from other companies, shipyards and lending institutions, and may also enter into newbuilding contracts with shipyards for new containerships.
Source: Diana Containerships Inc.
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