Diana Containerships Inc. is a holding company which owns containerships and pursues containership acquisition opportunities. The Company focuses on identifying and acquiring suitable vessels at favorable prices and trades its vessels on short-, medium- or long-term time charters. The commercial and technical management of its fleet, as well as providing administrative services relating to the fleet�s operations, are carried out, since March 1, 2013, by its wholly-owned subsidiary, Unitized Ocean Transport Limited (UOT, or fleet manager). In exchange the Company pays Manager a commission that is approximately 2% of its gross revenues. Pursuant to an Administrative Services Agreement, it pays to UOT a fixed monthly administrative fee of approximately $10,000, in exchange for providing it with accounting, administrative, financial reporting and other services necessary for the operation of its business.