Greece: Diana Containerships Takes Delivery of MV Maersk Merlion

Diana Containerships Inc., a global shipping company specializing in owning and operating containerships, today announced that the Company has taken delivery on June 17, 2011 of a Panamax container vessel, the m/v “Maersk Merlion”, a 1990-built vessel of 4,714 TEU capacity.

As previously announced, the Maersk Merlion is chartered to A.P. Møller-Maersk A/S for a period of minimum twenty-four (24) months plus or minus forty-five (45) days at a daily rate of U.S.$21,450 less a 2.25% commission. The charterer has the option to employ the vessel for a further twelve (12) month period plus or minus forty-five (45) days, at a daily rate of U.S.$25,000 less a 2.25% commission starting twenty-four (24) months after delivery of the vessel to the charterer.

The employment of the vessel is anticipated to generate approximately U.S.$14.5 million of gross revenues for the minimum scheduled period of the charter.

About the Company

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.

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Source: Diana Containerships, June 20, 2011