Greece: Diana Containerships Takes Delivery of Two Panamax Vessels

Greece - Diana Containerships Takes Delivery of Two Panamax Vessels

Diana Containerships Inc. , a global shipping company specializing in owning and operating containerships, today 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.

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World Maritime News Staff, February 8, 2012; Image: Diana Containerships