Diana Containerships Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2011

Declares Cash Dividend of $0.03 per Share for the Second Quarter

Athens, Greece, August 3, 2011

Diana Containerships Inc. (NASDAQ: DCIX), a global shipping company specializing in the transportation of containers, today reported net loss of $0.6 million for the second quarter of 2011 compared to a net loss of $1.7 million for the same period of 2010. Net loss to Diana Containerships Inc., for the six months ended June 30, 2011 amounted to $0.4 million, compared to net loss of $1.9 million for the period from January 7, 2010 (inception date) to June 30, 2010.

Dividend Declaration
The Company has declared a cash dividend on its common stock of $0.03 per share. The cash dividend will be payable on August 25, 2011 to all shareholders of record as at August 15, 2011. The Company has 23,076,161 shares of common stock outstanding.

Full report at: www.dcontainerships.com

About the Company
Diana Containerships Inc. is a Marshall Islands corporation founded in 2010 to own and operate containerships and pursue containership acquisition opportunities. Diana Containerships Inc. intends to continue to capitalize on investment opportunities by purchasing additional containerships in the secondhand market, from other companies, shipyards and lending institutions, and may also enter into newbuilding contracts with shipyards for new containerships.

Diana Containerships Inc. press release