Diana Containerships Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2012; Declares Cash Dividend of $0.30 per Share for the Second Quarter; Announces Time Charter Contract for m/v Centaurus with CMA CGM
ATHENS, GREECE, August 1, 2012 – Diana Containerships Inc. (NASDAQ: DCIX), a global shipping company specializing in owning and operating containerships, today reported net income of $2.2 million for the second quarter of 2012, compared to a net loss of $0.6 million for the same period of 2011.
Time charter revenues were $14.9 million for the second quarter of 2012, compared to $4.2 million for the same period of 2011, mainly due to the increase in the number of vessels in the fleet following the delivery of the Maersk Merlion, Maersk Malacca and Maersk Madrid in June 2011 and the delivery of the Cap San Marco, Cap San Raphael, APL Sardonyx and APL Spinel in February and March 2012.
Net income to Diana Containerships Inc. for the six months ended June 30, 2012 amounted to $4.1 million, compared to a net loss of $0.4 million for the same period of 2011. Time charter revenues were $27.4 million for the six months ended June 30, 2012, compared to $7.5 million for the same period in 2011.
The Company has declared a cash dividend on its common stock of $0.30 per share. The cash dividend will be payable on or around September 5, 2012 to all shareholders of record as at August 16, 2012. The Company has 31,176,161 shares of common stock outstanding.
Time Charter Contract
Separately, the Company also announced that it has entered into a time charter contract with CMA CGM S.A., Marseille, France, through a separate wholly-owned subsidiary, for one of its container vessels, the m/v “Centaurus”. The gross charter rate is US$7,500 per day, minus 4.5% commission paid to third parties and Diana Shipping Services S.A., for a period of minimum eight (8) to maximum twelve (12) months. The charter is expected to commence in mid-August 2012...