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Last $1.74 USD
Change Today +0.085 / 5.15%
Volume 63.6K
DCIX On Other Exchanges
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NASDAQ GS
Frankfurt
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

diana containerships inc (DCIX) Key Developments

Diana Containerships Inc. Announces Time Charter Contract for M/V Great with Maersk Line A/S

Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Great. The gross charter rate is $14,750 per day, minus a 5% commission paid to third parties, for a period of minimum six (6) months to maximum nine (9) months. The charter is expected to commence on August 15, 2015. The charterer has the option to employ the vessel for a further nine (9) month period, plus or minus thirty (30) days, at a gross daily rate of $21,000 minus a 5% commission paid to third parties, starting nine (9) months after delivery of the vessel to the charterer. This option must be declared by the charterer not later than five (5) months after the delivery date to the charterer.

Diana Containerships Inc. Announces New Loan Facility of Up to $150,000 from the Royal Bank of Scotland

On July 31, 2015, Diana Containerships Inc. accepted an offer letter from the Royal Bank of Scotland plc for a term loan facility of up to $150,000. The purpose of the new facility is to re-finance the acquisition cost of certain of the company's operating vessels, including the full prepayment of the existing facility agreement, and to support the acquisition of the two newly acquired vessels "Rotterdam" and "Hamburg". The loan agreement is expected to be executed by September 15, 2015.

Diana Containerships Inc. Announces Agreement to Acquire Two Post-Panamax Container Vessels

Diana Containerships Inc. announced that it 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 Rotterdam and the m/v Hamburg. The "Rotterdam" is a 2008-built vessel of approximately 6,500 TEU capacity and the purchase price is $37.5 million. The m/v Rotterdam is expected to be delivered to the Company by mid-September 2015. The "Hamburg" is a 2009-built vessel of approximately 6,500 TEU capacity and the purchase price is $38.5 million. The m/v Hamburg is expected to be delivered to the Company by the end of November 2015. The m/v Hamburg is chartered to MSC-Mediterranean Shipping Co. S.A., Geneva, at a gross charter rate of $14,000 per day minus 3.75% commission paid to third parties. Based on the existing time charterparty, the charterer has the option to redeliver the vessel at any time between January 13, 2016 and March 13, 2016. The closing of the transaction for the purchase of m/v Hamburg is subject to the signing of a novation agreement to the time charter contract of the vessel.

Diana Containerships Inc. Declares Dividend for the Second Quarter Ended June 30, 2015, Payable on or around September 9, 2015; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Diana Containerships Inc. has declared a cash dividend on its common stock of $0.0025 per share with respect to the second quarter ended June 30, 2015. The cash dividend will be payable on or around September 9, 2015 to all shareholders of record as at August 18, 2015. The company also reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported time charter revenues, net of $17,337,000 compared to $12,531,000 a year ago. Operating income was $2,555,000 against $2,297,000 for the same period a year ago. Net income was $891,000 or $0.01 per basic and diluted share compared to $633,000 or $0.02 per basic and diluted share for the same period of 2014. Net cash provided by operating activities was $5,428,000 against $6,000,000 for the same period in 2014. For the six months period, the company reported time charter revenues, net of $31,218,000 compared to $25,987,000 a year ago, mainly due to the enlargement of fleet, resulting from the acquisition of five vessels from September 2014 to April 2015, partly offset by reduced time charter rates. Operating income was $3,667,000 against $4,251,000 for the same period a year ago. Net income was $388,000 or $0.01 per basic and diluted share compared to a $935,000 or $0.03 per basic and diluted share for the same period of 2014. Net cash provided by operating activities was $9,063,000 against $11,540,000 for the same period in 2014.

Diana Containerships Inc. to Report Q2, 2015 Results on Jul 30, 2015

Diana Containerships Inc. announced that they will report Q2, 2015 results at 9:00 AM, US Eastern Standard Time on Jul 30, 2015

 

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Industry Analysis

DCIX

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Valuation DCIX Industry Range
Price/Earnings 43.5x
Price/Sales 2.0x
Price/Book 0.5x
Price/Cash Flow 8.6x
TEV/Sales NM Not Meaningful
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