Diana Containerships Adds Capacity

Nasdaq-listed shipping company Diana Containerships has through two of its wholly-owned subsidiaries signed two Memoranda of Agreement to purchase from an unaffiliated third party two 6,500 TEU boxships, the m/v Rotterdam and the m/v Hamburg.

The 2008-built Rotterdam was bought for USD 37.5 million, and is expected to be delivered to Diana by mid-September 2015.

The Hamburg was built in 2009 and the purchase price is USD 38.5 million. The m/v Hamburg is expected to be delivered 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 USD 14,000 per day minus 3.75% 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.

Earlier this week, Diana sold the 2001-built, 3,739 TEU Cap Domingo for USD 24.25 million.

With the latest additions, the company will own fourteen boxships ranging from 3,426 TEU to 6,541 TEU in capacity.