Diana Containerships (DCIX) Stock: Gaining Big On Asset Sale

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In the release, DCIX said that it will be selling the ships for a total price of $22.0 million. The agreement was signed with an unaffiliated third party. In the release, the company said that it expects that both vessels will be delivered to the buyer by no later than March 30, 2018. The purchaser is the same party on both vessels, and there may be more vessels sold. In fact, in the release, DCIX said that it previously entered into an agreement to sell up to seven vessels to the purchaser.

Diana Containerships said that it expects to use the proceeds from the sale of these assets to repay debts under previously announced credit agreements. Once the transaction is complete, the fleet at DCIX will consist of 9 container vessels, including 4 Post-Panamax and 5 Panamax vessels.

What We’re Seeing From The Stock

As investors, one of the first things that we learn is that the news matters. At the end of the day, it’s the news that moves the market. So, with the news of the asset sale fresh on the wire, it only makes sense that we’re seeing strong gains in the value of Diana Containerships shares today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (12:57), DCIX is trading at $3.43 per share after a gain of $0.19 per share or 5.87% thus far today.

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