updated 11/15/2010 7:46:21 AM ET 2010-11-15T12:46:21

ATHENS, Greece, Nov. 15, 2010 (GLOBE NEWSWIRE) -- Diana Containerships Inc., a global shipping company specializing in the transportation of containers, today reported net loss of $0.1 million for the third quarter of 2010. Voyage and time charter revenues were $2.4 million for the third quarter of 2010.

Net loss for the period from January 7, 2010 (date of inception) through September 30, 2010 amounted to $2.0 million. Voyage and time charter revenues were $2.4 million for the period from January 7, 2010 (date of inception) through September 30, 2010.

Diana Containerships Inc. is a corporation founded on January 7, 2010 to pursue vessel acquisitions in the container shipping industry. The Company's shares of common stock are not currently traded on any national securities exchange. The Company commenced an exchange offer of its shares of common stock for shares registered under the Securities Act of 1933, as amended, on October 19, 2010 pursuant to a registration statement on Form F-4 declared effective on that date. This press release is not an offer to exchange any of the securities of the Company, which is being made only pursuant to the prospectus contained in the registration statement on Form F-4 filed with the U.S. Securities and Exchange Commission.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for containership capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

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