The first vessel is scheduled to be delivered to Diana Containerships Inc. by June 25, 2010, and the second is scheduled to be delivered between July 5 and July 15, 2010. Upon delivery, the first vessel is scheduled to be employed on charter with A.P. Møller-Maersk A/S for a period of minimum nine (9) to maximum twelve (12) months at a gross daily rate of US$16,000.
As previously announced, Diana Shipping has made an investment of US$50 million in Diana Containerships Inc., representing approximately 55% of the issued and outstanding shares of the new entity, with the balance of the common shares held by institutional and accredited investors that acquired the shares in a private transaction.