Diana Containerships Inc. Announces Direct Continuation Of Time Charter Agreement For m/v Sagitta With A.P. Moller-Maersk A/S

Diana Containerships Inc.

, (the "Company"), a global shipping company specializing in the ownership of containerships, today announced that it has agreed to extend the present time charter contract with A.P. Møller-Maersk A/S, for its Panamax container vessel, the m/v Sagitta, for a period of minimum ten (10) months to maximum twelve (12) months. The gross charter rate is US$7,825 per day, minus a 1.25% commission paid to third parties. The new charter period is expected to commence on November 14, 2014. The "Sagitta" is a 3,426 TEU container vessel built in 2010. This employment is anticipated to generate approximately US$2.35 million of gross revenue for the minimum scheduled period of the charter. Diana Containerships Inc.'s fleet currently consists of 10 container vessels (4 Post-Panamax and 6 Panamax). A table describing the current Diana Containerships Inc. fleet can be found on the Company's website, www.dcontainerships.com. Information included on the Company's website does not constitute a part of this press release.