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Athens, Greece - November 17, 2016 Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today reported a net loss of $126.8 million for the third quarter of 2016, compared to a net loss of $9.1 million for the respective period of 2015. The loss for the third quarter of 2016 was mainly the result of $118.9 million of impairment charges for seven of the Company’s vessels, without which the result for the quarter would have been a net loss of $7.9 million. Time charter revenues, net of prepaid charter revenue amortization, were $8.0 million for the third quarter of 2016, compared to $16.1 million for the same period of 2015, mainly due to reduced employment opportunities and time charter rates. Net loss for the nine months ended September 30, 2016 amounted to $140.6 million, compared to a net loss of $8.7 million for the same period of 2015. The loss for the nine month period ended September 30, 2016, was mainly the result of $118.9 million of impairment charges for seven of the Company’s vessels, without which the result for the period would have been a net loss of $21.7 million. Time charter revenues, net of prepaid charter revenue amortization, for the nine months ended September 30, 2016, amounted to $27.7 million, compared to $47.3 million for the same period of 2015 About the Company Diana Containerships Inc. is a global provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes. Diana Containerships Inc. press release |
