Greece: Diana Containerships Posts Profit on Expanded Fleet

Diana Containerships Inc., a global shipping company specializing in owning and operating containerships, yesterday reported net income of $2.2 million for the second quarter of 2012, compared to a net loss of $0.6 million for the same period of 2011.

Time charter revenues were $14.9 million for the second quarter of 2012, compared to $4.2 million for the same period of 2011, mainly due to the increase in the number of vessels in the fleet following the delivery of the Maersk Merlion, Maersk Malacca and Maersk Madrid in June 2011 and the delivery of the Cap San Marco, Cap San Raphael, APL Sardonyx and APL Spinel in February and March 2012.

Net income to Diana Containerships Inc. for the six months ended June 30, 2012 amounted to $4.1 million, compared to a net loss of $0.4 million for the same period of 2011. Time charter revenues were $27.4 million for the six months ended June 30, 2012, compared to $7.5 million for the same period in 2011.

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Source: Diana Containerships, August 2, 2012