Diana Containerships Receives the APL Spinel, Fleet Grows to 9

Greek shipping company, Diana Containerships Inc. (NASDAQ: DCIX), announced today that they had taken delivery of the Panamax container vessel, MV APL Spinel, a 4,750 TEU containership.   This follows last month’s announcement of the delivery of MV APL Sardonyx

Built in 1996 by Samsung Heavy Industries, APL Spinel is currently on a 24-month (plus/minus 45 days) charter to APL Bermuda Ltd at a day rate of US$24,750 with an option for a one-year (plus/minus 45 day) extension at a rate of US$28,000.  Daily rates include a total commission of 2% paid to third parties and Diana Shipping Services S.A. The employment of the vessel is anticipated to generate approximately US$16.7 million of revenues for the minimum agreed period of the charter.

With this latest addition, Diana Containerships now owns a fleet of 9 Panamax ships.

Separately, Diana Containerships Inc. also announced today that it has completed the drawdown of an additional US$8.8 million under the previously announced revolving credit facility of up to US$100 million with The Royal Bank of Scotland plc, which may be increased to US$150 million subject to further syndication. With the drawdown announced today, Diana Containerships Inc. has completed the drawdown of a total of US$92.7 million under the above mentioned revolving credit facility.

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