Diana Containerships Inc. owns and operates containerships. As at February 23, 2012, its fleet consisted of eight containerships, including three containerships delivered to the Company, in February 2012, with a combined carrying capacity of 32,693 twenty-foot equivalent units and a weighted average age of 14.2 years. As at December 31, 2011, the Company�s fleet consisted of five containerships with a combined carrying capacity of 20,486 twenty-foot equivalent units and a weighted average age of 15 years. On February 6, 2012, the Company through its wholly owned subsidiaries, Rongerik Shipping Company Inc. and Utirik Shipping Company Inc., purchased from Reederei Santa Containerschiffe GmbH & Co. KG two Panamax container vessels, m/v Cap San Marco and m/v Cap San Raphael, respectively. On February 17, 2012, the Company through its wholly owned subsidiaries, purchased from APL (Bermuda) Ltd. two Panamax container vessels, the m/v APL Sardonyx and the m/v APL Spinel, respectively.