Diana Containerships Inc. Announces Agreement to Acquire Two Post-Panamax
ATHENS, Greece, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Diana Containerships Inc.
(Nasdaq:DCIX), a global shipping company specializing in owning and operating
containerships, today announced that it has signed, through two separate
wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an
unaffiliated third party two Post-Panamax container vessels, the m/v "Puelo"
and the m/v "Pucon".
The m/v "Puelo" and m/v "Pucon" are both 2006-built vessels of approximately
6,500 TEU capacity. The purchase price for each vessel is US$47 million. The
sellers are expected to deliver to the Company the m/v "Puelo" by the end of
August, 2013 and the m/v "Pucon" in mid-September, 2013.
Each of the two vessels is chartered to Compania Sud Americana de Vapores
S.A., Valparaiso, Chile, for a period of minimum eighteen (18) months to
maximum thirty (30) months at a gross charter rate of US$27,900 per day less
US$150.00 per day commission paid to third parties. In case either of the
vessels is redelivered to the Company in any period between the earliest and
the maximum redelivery period after delivery, then the charterers will pay a
lump sum equivalent to US$6,000 per day to the owners for the outstanding
period between the redelivery date and up to the 30 months. The time-charter
parties for both vessels are to commence upon delivery of the vessels to the
Company by the sellers.
Including the aforementioned vessels, Diana Containerships Inc.'s fleet will
consist of 10 container vessels (2 Post-Panamax and 8 Panamax). A table
describing the current Diana Containerships Inc. fleet can be found on the
Company's website, www.dcontainerships.com. Information included on the
Company's website does not constitute a part of this press release.
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 new building contracts with shipyards for new
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides safe
harbor protections for forward-looking statements in order to encourage
companies to provide prospective information about their business.
Forward-looking statements include statements concerning plans, objectives,
goals, strategies, future events or performance, and underlying assumptions
and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intends," "estimate," "forecast," "project,"
"plan," "potential," "may," "should," "expect," "pending" and similar
expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict
and are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our
view, could cause actual results to differ materially from those discussed in
the forward-looking statements include the strength of world economies and
currencies, general market conditions, including fluctuations in charter rates
and vessel values, changes in demand for containership capacity, changes in
our operating expenses, including bunker prices, drydocking and insurance
costs, the market for our vessels, availability of financing and refinancing,
changes in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption of
shipping routes due to accidents or political events, vessels breakdowns and
instances of off-hires and other factors. Please see our filings with the
Securities and Exchange Commission for a more complete discussion of these and
other risks and uncertainties.
CONTACT: Corporate Contact:
Director, Chief Operating Officer and Secretary
Investor and Media Relations:
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