Box Ships Takes Delivery of the OOCL Hong Kong

International container shipping company, Box Ships Inc., (NYSE: TEU), announced today it has taken delivery of its eighth vessel, the OOCL Hong Kong, a 5,344 TEU Post-Panamax containership built in 1995 at Samsung Heavy Industries in Korea.

The vessel is chartered to Orient Overseas Container Lines Ltd. (OOCL) for a period of thirty-six months plus or minus thirty days at a net daily rate of USD $26,465.  Box Ships has agreed to acquire one additional 5,344 TEU Post-Panamax containership built in 1996, the OOCL China, which is expected to be delivered on or prior to July 14, 2012 and will also be chartered to OOCL for a period of thirty-six months plus or minus thirty days at a net daily rate of US$26,465.