Diana Containerships Charters Post-Panamax to Hapag-Lloyd

Diana Containerships Inc. today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hapag-Lloyd AG, Hamburg, for one of its Post-Panamax container vessels, the m/v March, for a period of minimum nine (9) months to maximum fourteen (14) months.

The gross charter rate is US$1 per day for the first 15 days of the charter period and US$6,850 per day for the balance period of the time charter, in each case minus a 1.25% commission paid to third parties. The charter is expected to commence on February 23, 2017.

The “March” is a 5,576 TEU container vessel built in 2004. This employment is anticipated to generate approximately US$1.75 million of gross revenue for the minimum scheduled period of the time charter.