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Diana Containerships Inc. Announces the Delivery of a Post-Panamax Container Vessel, the m/v Puelo



Diana Containerships Inc. Announces the Delivery of a Post-Panamax Container
Vessel, the m/v Puelo

Drawdown of US$50 Million From the Loan Agreement With Diana Shipping Inc.

ATHENS, Greece, Aug. 23, 2013 (GLOBE NEWSWIRE) -- Diana Containerships Inc.
(Nasdaq:DCIX), a global shipping company specializing in owning and operating
containerships, has announced that yesterday, through a separate wholly-owned
subsidiary, it took delivery of the m/v "Puelo", a 2006-built Post-Panamax
container vessel of approximately 6,500 TEU capacity that the Company entered
into an agreement to purchase on August 8, 2013.

As previously announced, the "Puelo" 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 the vessel 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 charter commenced
today.

The Company also announced that, through the same wholly-owned subsidiary, it
has completed the drawdown of US$50 million under the previously announced
loan agreement with Diana Shipping Inc.

Including the newly delivered "Puelo", Diana Containerships Inc.'s fleet
currently consists of 9 container vessels (1 Post-Panamax and 8 Panamax) as
well as 1 Post-Panamax container vessel expected to be delivered to the
Company in mid-September 2013. 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 newbuilding contracts with shipyards for new
containerships.

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:
         Ioannis Zafirakis
         Director, Chief Operating Officer and Secretary
         Telephone: +30-216-600-2400
         Email: izafirakis@dcontainerships.com
         Website: www.dcontainerships.com
        
         Investor and Media Relations:
         Edward Nebb
         Comm-Counsellors, LLC
         Telephone: +1-203-972-8350
         Email: enebb@optonline.net
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