Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hyundai Merchant Marine Co., Ltd., Seoul, for one of its Panamax container vessels, the m/v Pamina. 

The Pamina is a 5,042 TEU container vessel built in 2005.

The gross charter rate is $11,950 per day, minus a 5 percent commission paid to third parties, for a period of minimum eight months to maximum twelve months. The charter will commence on August 24, 2018.

This employment is anticipated to generate approximately $2.87 million of gross revenue for the minimum scheduled period of the time charter.

The m/v Pamina is currently chartered to Orient Overseas Container Line Ltd., Hong Kong, at a gross charter rate of $9,500 per day, minus a 3.75 percent commission paid to third parties.