Diana Containerships Inc. (NASDAQ: DCIX), a global shipping company specializing in the ownership of containerships, yesterday announced that it plans to reactivate one of its Panamax container vessels, the m/v Pamina.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Orient Overseas Container Line Ltd., Hong Kong, for the m/v Pamina.

Diana Containerships announces the reactivation and the time charter contract for mv Pamina with OOCL
Caption: Container ship Pamina (ex Santa Pamina) - Image courtesy of Joern von Aspern

The gross charter rate is US$9,500 per day, minus a 3.75% commission paid to third parties, for a period of minimum seven (7) months to maximum twelve (12) months. The charter will commence on September 13, 2017.

The “Pamina” is a 5,042 TEU container vessel built in 2005.

This employment is anticipated to generate approximately US$2.0 million of gross revenue for the minimum scheduled period of the time charter.

Diana Containerships Inc.’s fleet currently consists of 11 container vessels (6 Post-Panamax and 5 Panamax).

Source: Diana Containerships