Last $2.79 USD
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As of 3:49 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

diana containerships inc (DCIX) Key Developments

Diana Containerships Inc. Announces Agreement to Acquire Two Post-Panamax Container Vessels

Diana Containerships Inc. announced that it has signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v "YM March" and the m/v "YM Great." The m/v "YM March" and the m/v "YM Great" are both 2004-built vessels of 5,576 TEU capacity. The purchase price for each vessel is $22.175 million. The sellers can deliver the vessels to the Company at any time between September 1, 2014 and October 31, 2014. The m/v "YM March" is currently expected to be delivered to the new owners by the end of September 2014 and the m/v "YM Great" by mid-October 2014. The two vessels are chartered to Yang Ming (UK) Ltd., at a net charter rate of $12,000 per day each. Based on the existing time charterparties and their addenda, the charterer has the option to redeliver the m/v "YM Great" at any time between September 7, 2014 and March 7, 2015 and the m/v "YM March" at any time between November 6, 2014 and April 6, 2015. Including the aforementioned vessels, Diana Containerships Inc.'s fleet will consist of 10 container vessels (4 Post-Panamax and 6 Panamax).

Diana Containerships Inc. Declares Cash Dividend on Common Stock, Payable on or around September 3, 2014

Diana Containerships Inc. has declared a cash dividend on its common stock of $0.0025 per share with respect to the second quarter of 2014. The cash dividend will be payable on or around September 3, 2014 to all shareholders of record as at August 14, 2014.

Diana Containerships Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Diana Containerships Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported time charter revenues, net of $12,531,000 compared to $12,245,000 a year ago. Operating income was $2,297,000 against operating loss of $4,276,000 for the same period a year ago. Net income was $633,000 or $0.02 per basic and diluted share compared to a net loss of $5,045,000 $0.16 per basic and diluted share for the same period of 2013. Net cash provided by operating activities was $6,000,000 against $7,754,000 for the same period in 2013. The loss for the second quarter of 2013 was mainly the result of $4.3 million of losses arising from the disposal of three vessels. The increase in time charter revenues, net of prepaid charter revenue amortization mainly due to increased average time charter rates achieved, despite the decrease in ownership days in 2014 compared to 2013, resulting from the disposal of five vessels from May 2013 to February 2014, which was partly offset by the addition to the company's fleet of two vessels in August and September 2013, respectively. For the six months period, the company reported time charter revenues, net of $25,987,000 compared to $27,381,000 a year ago. Operating income was $4,251,000 against operating loss of $35,334,000 for the same period a year ago. Net income was $935,000 or $0.03 per basic and diluted share compared to a net loss of $36,844,000 $1.14 per basic and diluted share for the same period of 2013. Net income was mainly the result of an impairment loss and actual losses arising from the disposal of three vessels, together totaling $36.9 million. Net cash provided by operating activities was $11,540,000 against $15,595,000 for the same period in 2013.

Diana Containerships Inc. to Report Q2, 2014 Results on Jul 28, 2014

Diana Containerships Inc. announced that they will report Q2, 2014 results at 9:00 AM, GTB Standard Time on Jul 28, 2014

Diana Containerships Inc., Q2 2014 Earnings Call, Jul 28, 2014

Diana Containerships Inc., Q2 2014 Earnings Call, Jul 28, 2014

 

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