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News Breaks
February 5, 2013
12:00 EDTDCIXDiana Containerships falls 14.3%
Diana Containerships is down 14.3%, or 99c, to $5.93
News For DCIX From The Last 14 Days
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March 20, 2015
09:15 EDTDCIXDiana Containerships agrees to acquire two Panamax vessels
Diana Containerships announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Panamax container vessels, the m/v YM Los Angeles and the m/v YM New Jersey. The "YM Los Angeles" and the "YM New Jersey" are both 2006-built vessels of approximately 5,000 TEU capacity. The purchase price for each vessel is $21.5M. The sellers may deliver the vessels to the Company at any time between April 1 and April 30. The m/v YM Los Angeles is currently expected to be delivered to the Company on April 9 and the m/v YM New Jersey on April 15. Each of the two vessels is chartered to Yang Ming, at a gross charter rate of $21,000 per day less $350 per day commission paid to third parties. Based on the existing time charterparties and their addenda, the charterer has the option to redeliver the m/v YM Los Angeles at any time between October 19, 2016 and February 19, 2017 and the m/v YM New Jersey at any time between September 24, 2016 and January 24, 2017. The charterer has the option to employ the vessel for a further twenty-two to twenty-six month period at the same daily gross charter rate less $350 per day commission paid to third parties. The optional period if exercised will start on December 19, 2016 for m/v YM Los Angeles and on November 24, 2016 for m/v YM New Jersey and must be declared six months prior to these dates in respect of each vessel.

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