Diana Containerships to list on Nasdaq Global Market

NEW YORK-LISTED dry bulk shipowner Diana Shipping Inc is preparing to spin-off its interest in the company's 55 per cent-owned subsidiary Diana Containerships Inc, reports Alphaliner.

It said Diana Containerships has applied to list its common stock on the Nasdaq Global Market from January 3.

"Diana Shipping will distribute 2.67 million shares of common stock of Diana Containerships, or 80 per cent of Diana Shipping's interest in Diana Containerships on January 18, 2011 to its shareholders. Following the distribution, Diana Shipping's shareholders will own 44 per cent of Diana Containerships," the report said.

According to Alphaliner Diana Containerships was established in January 2010 to invest in containerships. It has so far purchased two 3,426-TEU newbuildings built at TKMS Blohm & Voss Nordseewerke in Germany originally for Hartmann Reederei.

Diana Containerships has chartered one of the vessels, the Sagitta, to AP Moller-Maersk until June 2011 for US$16,000 per day, while the other, the Centaurus, has been chartered to CSAV until September 2012 for $20,000 a day.

Paris-based Alphaliner added that Diana Shipping raised $85 million in April from institutional investors from the sale of 45 per cent of Diana Containerships' common shares.
(Source:www.schednet.com)