Diana Containerships to purchase two Panamax containerships

The Athens-based containership owner agreed to acquire the YM Los Angeles and YM New Jersey for $21.5 million each.    Diana Containerships Inc. signed two agreements to purchase the Panamax containerships YM Los Angeles and the YM New Jersey from an unaffiliated third party.
   The purchase price for the vessels, both built in 2006, is $21.5 million each. The YM Los Angeles is currently expected to be delivered on April 9, 2015 and the YM New Jersey on April 15, according to a statement from the containership owner.
   Each of the two vessels is chartered to Yang Ming (UK) Ltd. at a gross charter rate of $21,000 per day, less $350 per day in commission paid to third parties. The sale will be subject to the signing of a novation agreement to the time charter contract of each vessel.
   According to ocean carrier schedule and capacity database BlueWater Reporting, the YM Los Angeles and YM New Jersey both have a capacity of 5,500 TEUs. The YM Los Angeles currently serves on Yang Ming’s joint Asia-to-Indian subcontinent ICS/WIN loop with NYK, Wan Hai, Hapag-Lloyd and Hanjin, while the YM New Jersey operates on the carrier’s CAT/STA service between Asia and Australia with Evergreen and Pacific International Line.
   Including the new acquisitions, Diana Containerships Inc.’s fleet consists of 13 containerships – nine Panamax and four Post-Panamax vessels.