Performance Shipping (PSHG) 6-K 20 Sep 16 2016 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document And Entity Information [Abstract]
Document type	6-K
Document period end date	Jun. 30, 2016
Amendment flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity registrant name	DIANA CONTAINERSHIPS INC.
Entity trading symbol	DCIX
Entity central index key	1,481,241
Entity current reporting status	Yes
Entity voluntary filers	No
Current fiscal year end date	--12-31
Entity filer category	Non-accelerated Filer
Entity well known seasoned issuer	No
Entity common stock shares outstanding	9,361,274

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 18,790	$ 29,388
Accounts receivable, trade	470	753
Inventories	3,212	3,704
Prepaid expenses and other assets	2,318	1,069
Total current assets	24,790	34,914
FIXED ASSETS:
Vessels (Note 4)	415,097	421,903
Accumulated depreciation (Note 4)	(42,123)	(37,354)
Vessels' net book value (Note 4)	372,974	384,549
Property and equipment, net	965	987
Total fixed assets	373,939	385,536
Deferred charges, net	2,701	2,475
Restricted cash, non-current (Note 6)	9,000	9,000
Prepaid charter revenue (Note 5)	1,089	3,798
Total assets	411,519	435,723
CURRENT LIABILITIES:
Current portion of long-term bank debt, net of unamortized deferred financing costs (Notes 6 and 11)	7,687	14,897
Related party financing, current (Notes 3 and 11)	833	5,000
Accounts payable, trade and other	2,353	2,707
Due to related parties, current (Note 3)	210	105
Accrued liabilities	1,405	1,341
Deferred revenue, current	151	647
Total current liabilities	12,639	24,697
Long-term portion of bank debt, net of unamortized deferred financing costs (Notes 6 and 11)	127,548	127,781
Related party financing, non-current (Notes 3 and 11)	45,617	43,950
Other liabilities, non-current	140	121
Commitments and contingencies (Note 7)	0	0
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 25,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized; 9,361,274 and 9,236,285 issued and outstanding as at June 30, 2016 and December 31, 2015, respectively (Note 8)	94	92
Additional paid-in capital (Note 8)	374,314	373,764
Other comprehensive income	5	5
Accumulated deficit	(148,838)	(134,687)
Total stockholders' equity	225,575	239,174
Total liabilities and stockholders' equity	$ 411,519	$ 435,723

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred stock par value	$ 0.01	$ 0.01
Preferred stock shares authorized	25,000,000	25,000,000
Preferred stock shares issued	0	0
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	500,000,000	500,000,000
Common stock shares issued	9,361,274	9,236,285
Common stock shares outstanding	9,361,274	9,236,285

UNAUDITED INTERIM CONSOLIDATED

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
REVENUES:
Time charter revenues (Note 1)	$ 22,473	$ 35,700
Prepaid charter revenue amortization (Note 5)	(2,709)	(4,482)
Time charter revenues, net	19,764	31,218
EXPENSES:
Voyage expenses	1,951	616
Vessel operating expenses	16,778	17,994
Depreciation and amortization of deferred charges (Note 4)	7,107	6,145
General and administrative expenses (Note 3)	3,721	2,851
Loss on vessels' sale (Note 4)	497	0
Foreign currency losses / (gains)	85	(55)
Operating income / (loss)	(10,375)	3,667
OTHER INCOME/(EXPENSES)
Interest and finance costs (Notes 3 and 6)	(3,466)	(3,346)
Interest income	64	67
Total other expenses, net	(3,402)	(3,279)
Net income/ (loss)	$ (13,777)	$ 388
Earnings/ (Loss) per common share, basic and diluted (Note 9)	$ (1.51)	$ 0.04
Weighted average number of common shares, basic (Note 9)	9,140,744	9,104,270
Weighted average number of common shares, diluted (Note 9)	9,140,744	9,116,010

UNAUDITED INTERIM CONSOLIDATED5

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/ (LOSS) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Income and Comprehensive Income [Abstract]
Net income/ (loss)	$ (13,777)	$ 388
Comprehensive income / (loss)	$ (13,777)	$ 388

UNAUDITED INTERIM CONSOLIDATED6

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Other Comprehensive Income / (Loss) [Member]	Accumulated Deficit [Member]
Balance as at Dec. 31, 2014	$ 256,443	$ 91	$ 372,837	$ (68)	$ (116,417)
Balance of shares as at Dec. 31, 2014		9,144,836
Net income/ (loss)	388				388
Issuance of restricted stock, and compensation cost on restricted stock (Note 8), value	422	$ 1	421
Issuance of restricted stock, and compensation cost on restricted stock (Note 8), shares		91,449
Dividends declared and paid ($ 0.02 and $0.02 per share) (Note 9)	(369)				(369)
Balance as at Jun. 30, 2015	256,884	$ 92	373,258	(68)	(116,398)
Balance of shares as at Jun. 30, 2015		9,236,285
Balance as at Dec. 31, 2015	239,174	$ 92	373,764	5	(134,687)
Balance of shares as at Dec. 31, 2015		9,236,285
Net income/ (loss)	(13,777)				(13,777)
Issuance of restricted stock, and compensation cost on restricted stock (Note 8), value	552	$ 2	550
Issuance of restricted stock, and compensation cost on restricted stock (Note 8), shares		124,989
Dividends declared and paid ($ 0.02 and $0.02 per share) (Note 9)	(374)				(374)
Balance as at Jun. 30, 2016	$ 225,575	$ 94	$ 374,314	$ 5	$ (148,838)
Balance of shares as at Jun. 30, 2016		9,361,274

UNAUDITED INTERIM CONSOLIDATED7

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015
Statement Of Stockholders Equity [Abstract]
Dividends declared and paid, per share	$ 0.02	$ 0.02	$ 0.02	$ 0.02

UNAUDITED INTERIM CONSOLIDATED8

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows provided by / (used in) Operating Activities:
Net income/ (loss)	$ (13,777)	$ 388
Adjustments to reconcile net income/ (loss) to net cash provided by / (used in) operating activities:
Depreciation and amortization of deferred charges (Note 4)	7,107	6,145
Amortization of deferred financing costs	245	97
Amortization of deferred revenue	0	(50)
Amortization of prepaid charter revenue (Note 5)	2,709	4,482
Loss on vessels' sale (Note 4)	497	0
Compensation cost on restricted stock awards (Note 8)	552	422
(Increase) / Decrease in:
Accounts receivable, trade	283	(120)
Inventories	492	(906)
Prepaid expenses and other assets	(1,249)	(755)
Increase / (Decrease) in:
Accounts payable, trade and other	(354)	1,418
Due to related parties	105	311
Accrued liabilities	64	(306)
Deferred revenue	(496)	234
Other liabilities	19	2
Drydock costs	(540)	(2,299)
Net Cash provided by /(used in) Operating Activities	(4,343)	9,063
Cash Flows provided by /(used) in Investing Activities:
Advances for vessel acquisitions and other vessel costs	0	(37,218)
Vessel acquisitions and other vessel costs (Note 4)	(194)	0
Proceeds from sale of vessels, net of expenses (Note 4)	4,523	0
Acquisition of time charter (Note 5)	0	(6,000)
Property and equipment additions	(22)	(24)
Insurance settlements	0	263
Net Cash provided by / (used in) Investing Activities	4,307	(42,979)
Cash Flows used in Financing Activities:
Repayments of long term debt (Notes 3 and 6)	(10,188)	0
Cash dividends (Note 9)	(374)	(369)
Net Cash used in Financing Activities	(10,562)	(369)
Net decrease in cash and cash equivalents	(10,598)	(34,285)
Cash and cash equivalents at beginning of period	29,388	82,003
Cash and cash equivalents at end of period	18,790	47,718
Cash paid during the period for:
Interest payments, net of amounts capitalized	$ 3,225	$ 2,931

General Information

General Information	6 Months Ended
	Jun. 30, 2016
General Information [Abstract]
General Information	1 . General Information The accompanying unaudited interim consolidated financial statements include the accounts of Diana Containerships Inc. (“DCI”) and its wholly-owned subsidiaries (collectively, the “Company”). Diana Containerships Inc. was incorporated on January 7, 2010 under the laws of the Republic of Marshall Islands for the purpose of engaging in any lawful act or activity under the Marshall Islands Business Corp orations Act. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited interim consolidated financial statements have been prepared on the same basis and should be read in conjunction with the financial statements for the year ended December 31, 2015 included in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 21, 2016 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. Operating results for the six months ended June 3 0 , 2016 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2016. A discussion of the Company's significant accountin g policies can be found in the audited c on solidated financial s tatements for the fis cal year ended December 31, 2015 , as filed on Form 20-F on March 21, 2016 . The consolidated balance sheet as of December 31, 2015 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Effective June 9, 2016 the Company effected a 1 -for- 8 reverse stock split on its issued and outstanding common stock (Note 8) . All share and per share amounts disclosed in the accompanying unaudited interim consolidated financial statements give effect to this reverse stock split retroactively, for all periods presented. The Company is engaged in the seaborne transportation industry through the ownership of containerships and operates its fleet through Unitized Ocean Transport Limited, a wholly-owned subsidiary. As at June 30 , 2016 , th e Company was the sole owner of all outstanding shares of the following subsidiaries : a/a Company Place of Incorporation Vessel Flag TEU Date built Date acquired Date sold Vessel Owning Subsidiaries - Panamax Vessels 1 Likiep Shipping Company Inc. Marshall Islands Sagitta Marshall Islands 3,426 Jun-10 Jun-10 - 2 Orangina Inc. Marshall Islands Centaurus Marshall Islands 3,426 Jul-10 Jul-10 - 3 Rongerik Shipping Company Inc. Marshall Islands Domingo (ex Cap Domingo) Marshall Islands 3,739 Mar-01 Feb-12 - 4 Utirik Shipping Company Inc. Marshall Islands Cap Doukato Marshall Islands 3,739 Feb-02 Feb-12 - 5 Dud Shipping Company Inc. Marshall Islands Pamina (ex Santa Pamina) Marshall Islands 5,042 May-05 Nov-14 - 6 Kapa Shipping Company Inc. Marshall Islands YM Los Angeles Marshall Islands 4,923 Dec-06 Apr-15 - 7 Mago Shipping Company Inc. Marshall Islands YM New Jersey Marshall Islands 4,923 Nov-06 Apr-15 - Vessel Owning Subsidiaries - Post-Panamax Vessels 8 Eluk Shipping Company Inc. Marshall Islands Puelo Marshall Islands 6,541 Nov-06 Aug-13 - 9 Oruk Shipping Company Inc. Marshall Islands Pucon Marshall Islands 6,541 Aug-06 Sep-13 - 10 Delap Shipping Company Inc. Marshall Islands March (ex YM March) Marshall Islands 5,576 May-04 Sep-14 - 11 Jabor Shipping Company Inc. Marshall Islands Great (ex YM Great) Marshall Islands 5,576 Apr-04 Oct-14 - 12 Meck Shipping Company Inc. Marshall Islands Rotterdam Marshall Islands 6,494 Jul-08 Sep-15 - 13 Langor Shipping Company Inc. Marshall Islands Hamburg Marshall Islands 6,494 Mar-09 Nov-15 - Vessel Owning Subsidiaries - Sold Vessels 14 Lemongina Inc. Marshall Islands Garnet (ex Apl Garnet) Marshall Islands 4,729 Aug-95 Nov-12 Sep-15 15 Nauru Shipping Company Inc. (Note 4) Marshall Islands Hanjin Malta Marshall Islands 4,024 Jan-93 Mar-13 Feb-16 Other Subsidiaries 16 Unitized Ocean Transport Limited Marshall Islands Management company - - - - 17 Container Carriers (USA) LLC Delaware - USA Company's US representative - - - - Until September 2015, the Company was also the sole owner of all outstanding shares of the companies Ralik Shipping Company Inc., Mili Shipping Company Inc., Ebon Shipping Company Inc., Mejit Shipping Company Inc. and Micronesia Shipping Company Inc., owners of the vessels Madrid, Malacca, Merlion , Sardonyx and Spinel, respectively, which were sold from April 2013 to February 2014. Following the disposal of the se vessels, the ship-owning companies were dissolved in September 2015 and accordingly, they are no longer consolidated in the financial statements of the Company. Unitized Ocean Transport Limited ( the “Manager” or “UOT”), was established for the purpose of provid ing the Company and its vessels with management and administrative services , effective March 1, 2013 . P ursuant to the m anagement agreement s , UOT receives a fixed commission of 2% on the gross charter hire an d freight earned by each vessel plus a technical management fee of $15 per vessel per month for employed vessels and $8 per vessel per month for laid- up vessels , if any. In addition, pursuant to the administrative agreement, UOT receives a fixed monthly fee of $10 . T he management and administrative fees payable to UOT are eliminated in consolidation as intercompany transactions. Container Carriers (USA) LLC ("Container Carriers"), was established in July 2014 in the State of Delaware, USA, to act as the Company's authorized representative in the United States. During the six months ended June 3 0 , 2016 and 2015 , charterers that accounted for more than 10% of the Company's hire revenues were as follows: Charterer 2016 2015 A 34% 23% B - 10% C 14% 28% D 22% - E - 14% F - 13%

Significant Accounting Policies

Significant Accounting Policies and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements	2 . Recent Accounting Pronouncements (a ) In March 2016, the Financial Accounting Standards Board (“ FASB ”) issued Accounting Standards Update ("ASU" or "Update") No. 2016-09- Compensation-Stock Compensation – Improvements to Employee Share-Based Payment Accounting (Topic 718) which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess Tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period, however early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures. ( b ) In June 2016, the FASB issued ASU No. 2016-13– Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For public entities, the amendments of this Update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early application is permitted. Management is in the process of assessing the impact of the amendment of this Update on the Company's consolidated financial position and performance. ( c ) In August 2016, the FASB issued ASU No. 2016-15- Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments which addresses the following eight specific cash flow issues with the objective of reducing the existing diversity in practice: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 including interim periods within that reporting period, however early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures. (d ) A discussion of the Company's significant accounting policies can be found in the Company's consolidated financial statements included in the Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed with the SEC on March 21, 2016. There have been no material changes to these policies in the six-month period ended June 30, 2016, apart from the below. Consolidation: In February 2015, the FASB issued ASU No. 2015-02: Consolidation - Amendments to the Consolidation Analysis, which changes the guidance as to whether an entity is a variable interest entity (VIE) or a voting interest entity and how related parties are considered in the VIE model. As of June 30, 2016, the Company has adopted the provisions of ASU 2015-02, which did not impact the consolidated financial statements

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2016
Transactions With Related Parties [Abstract]
Transactions with Related Parties	3 . T ransactions with Related Parties Altair Travel Agency S.A (“Altair”): Effective March 1, 2013 the Company uses the services of an affiliated travel agent, Altair, which is controlled by the Company's CEO and Ch airman. Travel expenses payable to Altair for the six months ended June 30 , 2016 and 2015 , were $ 50 4 and $ 579 respectively , and are included in Vessels and other vessels' costs , in Prepaid expenses and other assets, i n Operating e xpenses , in General and administrative expenses and in Loss on vessel's sale in the accompanying unaudited interim consolidated financial statements. As at June 30, 2016 and December 31, 2015, an amount of $58 and $17 , respectively, was payable to Altair and is included in Due to related parties , current in the accompanying consolidated balance sheet s . Diana Enterprises Inc. (“Diana Enterprises” or “DEI” ): Diana Enterprises, a company controlled by th e Company's CEO and Chairman, has enter ed into an agreement with DCI to provide brokerage services for a monthly fee of $121 , payable quarterly in advance , until March 31, 2016 . Upon expiration, the agreement was further renewed f or another twelve-month period for a monthly fee of $140 . Furthermore, in February 2016, the Company's Board of Direc tors approved a cash bonus to Diana Enterprises of $242. For the six months ended June 30, 2016 and 2015, total brokerage fees and bonuses to Diana Enterprises , amounted to $1,025 and $726 respectively, and are included in General and administrati ve expenses in the accompanying unaudited interim consolidated statements of operations . As at June 30, 2016 and December 31, 2015, there was no amount due from or due to Diana Enterprises. Diana Shipping Inc. (“DSI”): On May 20, 2013, the Company, through its subsidiary Eluk Shipping Company Inc., entered into an unsecured loan agreement of up to $50,000 with Diana Shipping Inc., one of the Company's major shareholders, to be used to fund vessel acquisitions and for general corporate purposes. The loan was guaranteed by the Company and, until the amendment of September 2015 discussed below, it bore interest at a rate of LIBOR plus a margin of 5.0% per annum and a fee of 1.25% per annum (“back-end fee”) on any amounts repaid upon any repayment or voluntary prepayment dates. In August 2013, the full amount was drawn down under the loan agreement which was repayable on August 20, 2017. On September 9, 2015, and in relation with The Royal Bank of Scotland plc (“RBS”) refinance discussed in Note 6, the loan agreement with DSI was amended. The new loan agreement is extended until March 15, 2022, provides for annual repayments of $5,000, plus a balloon instalment at the final maturity date, and bears interest at LIBOR plus margin of 3.0% per annum. The Company also agreed to pay at the date of the amendment the accumulated back-end fee, amounting to $1,302, and tha t no additional back-end fee would be charged thereafter. Furthermore, the Company agreed to pay at the final maturity date a flat fee of $200. On September 12 , 2016 and in relation with the RBS amended loan agreement discussed in Notes 6 and 11 , the loan agreement with DSI was further amended. The loan was undertaken by Kapa Shipping Company Inc. and its repayment is immediately suspended and will not recommence until the later of: ( i ) September 15, 2018 and (ii) until the deferred tranche of the RBS supplemental agreement has been fully repaid or prepaid. Finally, the margin has been revised to 3.35% per annum until December 31, 2018. As of June 30, 2016 the current portion of the loan is included in Related party financing, current, in the accompanying consolidated balance sheets and includes instalments of $833, which were paid until the loan amendment in September 2016. For the six months ended June 30 , 2016 and 2015 , interest and back-end fee expense incurred under the loan agreement with DSI amounted to $822 and $1,615 , respectively, and is included in Interest and finance costs in the accompanying unaudited interim consolidated statements of operations . As at June 30 , 2016 and December 31, 2015 , the flat fee of $200 is included in Related party financing, non-current, in the accompanyi ng co nsolidated balance sheets . Accrued interest as of June 30 , 2016 and December 31, 2015 amounted to $97 and $103 , respectively, and is incl uded in Due to related parties in the accompanyi ng consolidated balance sheets .

Vessels

Vessels	6 Months Ended
	Jun. 30, 2016
Property Plant And Equipment [Abstract]
Vessels	4. Vessels During the six months ended June 30 , 2016 , the Compa ny, through its subsidiary Nauru Shipping Company Inc., sold the vessel “ Hanjin Malta ” to an unaffiliated third party for demolition, for a sale price of $4,842 , net of commission s . The loss from the sale of the vessel, including direct to sale expenses of $319 , amounted to $497 and is separately reflected in the accompanying unaudited interim consolidated statements of operations. The amounts in the accompanying consolidated balance sheets are analyzed as follows: Vessels' Cost Accumulated Depreciation Net Book Value Balance, December 31, 2015 $ 421,903 $ (37,354) $ 384,549 - Additional capitalized costs 194 - 194 - Vessels' disposals (7,000) 1,980 (5,020) - Depreciation for the period - (6,749) (6,749) Balance, June 30, 2016 $ 415,097 $ (42,123) $ 372,974 As at June 30, 2016, certain of the Company 's vessels , having a total carrying value of $271,147 , were provided as collateral to secure the term facility with RBS , discussed in Note 6.

Prepaid Charter Revenue

Prepaid Charter Revenue	6 Months Ended
	Jun. 30, 2016
Prepaid Charter Revenue [Abstract]
Prepaid Charter Revenue	5. Prepaid Charter Revenue The amounts presented as P repaid charter revenue in the accompanying consolidated balance sheets represent the unamortized balance of an asset associated wi th vessels acquired with time charters attached at values above their charter-free fair market values at the time of acquisition , which is amortized to revenue over the period of the res pective time charter agreements. As of June 30, 2016, the unamortized balance of the account relates to the vessels “YM New Jersey ” and “ YM Los Angeles ” , with their charter expirati on falling the earliest in September and October 2016, respectively. Accordingly, the balance of the account as of June 30, 2016, is expected to be fully amortized within the next twelve months. The movement of the prepaid charter revenue from vessel acquisitions with time-charter attached for the period ended June 30, 2016 w as as follows: Gross Amount Accumulated Amortization Net Amount Balance, December 31, 2015 $ 27,000 $ (23,202) $ $ 3,798 - Amortization for the period - (2,709) (2,709) - Write-off of fully amortized assets (8,500) 8,500 - Balance, June 30, 2016 $ 18,500 $ (17,411) $ $ 1,089 The amortization to revenues for the six months ended June 30, 2016 and 2015 is s eparately reflected in Prepaid charter r evenue amortization in the accompanyi ng unaudited interim consolidated statements of operations .

Long-Term Bank Debt, Current an

Long-Term Bank Debt, Current and Non-Current	6 Months Ended
	Jun. 30, 2016
Long Term Bank Debt [Abstract]
Long-term bank debt	6. Long-Term Bank Debt , Current and Non-C urrent The amount s of long-term bank debt shown in the accompanying consolidated balance sheet s are analyzed as follows: June 30, 2016 Current Non-current December 31, 2015 Current Non-current The Royal Bank of Scotland plc - Term Loan $ 136,999 $ 8,138 $ 128,861 $ 144,687 $ 15,376 $ 129,311 less unamortized deferred financing costs (1,764) (451) (1,313) (2,009) (479) (1,530) Total bank debt, net of unamortized deferred financing costs $ 135,235 $ 7,687 $ 127,548 $ 142,678 $ 14,897 $ 127,781 The Royal Bank of Scotland plc (“RBS”) – Term Loan : On September 10, 2015 , the Company , through nine of its subsidiaries, entered into a loan agreement with RBS of up to $148,000 , to re-fin ance the acquisition cost of seven of the Company's vessels, including the full prepayment of the previous faci lity agreement , and to support the acquisition of the two newly acquired vessels , the “ Hamburg” and the “Rotterdam ”. Until December 31, 2015, t he Company drew down the full amount of the loan and paid arrangement and structuring fees amounting to $1,875. The loan bear s interest at the rate of 2.75% per annum over LIBOR and is repayable in quarterly instalments and a balloon payment payable toget her with the last installment in September 2021 . The Company paid c ommitment commissions of 1.375 % per annum on the undrawn amount s , from July 30, 2015 , the date of acceptance of the lenders' offer letter , until the drawdown dates. The loan is secured by first preferred mortgages on nine vessels of the Company's fleet , first priority deeds of assignments of insurances , earnings, charter rights and requisition compensa tion and a corporate guarantee. The loan agreement also contains customary financial covenants, minimum security value of the mortgaged vessels, requires minimum liquidity of $500 per vessel in the fleet and restricted cash of $9 ,000 to be deposited by the borrower s with the lenders for the duration of the loan . There are also restrictions as to changes in the loan agreement with DSI , in the securities purchase agreement that the Company entered into in the private placement which took place in July 2014 , in certain shareholdings and manag ement of the vessels . Finally , the Company is not permitted to pay any dividends that would result in a breach of the fina ncial covenants. On September 12 , 2016, the Compa ny entered into an amendment of its existing loan agreement with RBS and agreed among others, to amend the repayment schedule of the loan (Note 11 ). During the six months ended June 30 , 2016 and 2015 , total interest incurred on long-term bank debt , amounted to $2,388 and $1,626 , respectively, and is included in Interest and finance costs in the accompanying unaudited interim consolidated statements of operations . As of June 30, 2016, the maturities of the Company's debt facility described above, as amended in September 2016 ( Note 11 ) , and throughout its term are as follows : Period Principal Repayment July 1, 2016 to June 30, 2017 $ 8,138 July 1, 2017 to June 30, 2018 8,138 July 1, 2018 to June 30, 2019 18,046 July 1, 2019 to June 30, 2020 19,816 July 1, 2020 to June 30, 2021 19,816 July 1, 2021 and thereafter 63,045 Total $ 136,999

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	7 . Commitments and Contingencies Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company's vessels. Currently, management is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying unaudited interim consolidated financial statements. The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying unaudited interim consolidated financial statements. The Company's vessels are covered for pollution in the amount of $1 billion per vessel per incident, by the protection and indemnity association (“ P&I Association ”) in which the Company's vessels are entered. The Company's vessels are subject to calls payable to the ir P&I A ssociation and may be subject to s upplemental calls which are based on estimates of premium income and anticipated and paid claims . S uch estimates are adjusted each year by the Board of Directors of the P&I Association until the closing of the relevant policy year, which generally occurs within three years from the end of the policy year. Supplemental calls, if any, are expensed when they are announced and according to the period they relate to. The Company is not aware of any supplemental calls outstanding in respect of any policy year . As at June 30, 2016, the majority of our vessels were operating under time charter agreements , while the rest of them were not chartered . The minimum contractual annual charter revenues, net of related commissions to third parties, to be generated from the existing a s at June 30, 2016, non-cancelable time charter contracts until their expiration, are estimated at $11,606 until June 3 0 , 2017 .

Changes in Capital Accounts

Changes in Capital Accounts	6 Months Ended
	Jun. 30, 2016
Changes in Capital Accounts [Abstract]
Changes in Capital Accounts	8 . Change s in Capital A ccounts 1 -for- 8 reverse stock split: On January 14, 2016, the Company received written notification from The NASDAQ Stock Market LLC indicating that, because the closing bid price of the Company's common stock for the last 30 consecutive business days was below $1.00 per share, the Company no longer met the minimum bid price requirement for The Nasdaq Global Select Market. In this respect e ffective as of the opening of trading on June 9, 2016, the Company affected a one-for-eight reverse stock split of its common shares , which was approved by shareholders at the Company's 2016 Annual Meeting of Shareholders held on February 24, 2016. T he number of the Company's common shares issued and outstanding at that date w as reduced from 74,890,570 to 9,361,274. No fractional sh ares were issued in connection with the reverse split. Shareho lders who would otherwise hold fractional shares of the Company's common stock received a cash payment in lieu of such fractional share. Equity Incentive Plan : During the six months ended June 30, 2016 , the Company's Board of Directors approved the grant of restricted common stock to the executive management and the non-executive directors pursuant to the Company's 2010 equity incentive plan as amended in 2012, and in accordance with terms and conditions of Restricted Shares Award Agreements signed by the grantees. The restricted shares will vest over a period of 3 years by one-third each year, and are subject to forfeiture until they vest. Unless they forfeit, grantees have the right to vote, to receive and retain all dividends paid and to exercise all other rights, powers and privileges of a holder of shares. The fair value of the restricted shares has been determined with reference to the closing price of the Company's stock on the date the agreements were signed. During the six months ended June 30, 2016 and 2015 , compensation cost on restricted stock amounted to $552 and $422 , respectively, and is included in General and administrative expenses in the accompanying unaudited interim consolidated statements of oper a tions . At June 30, 2016 and December 31, 2015, the total unrecognized compensation cost relating to restricted share awards was $1,625 and $1,797 , respectively. At June 30, 2016, the weighted-average period over which the total compensation cost related to non-vested awards not yet recognized is expected to be recognized is 1.44 years. D uring the six months ended June 30, 2016 and the year ended December 31, 201 5 , the movement of restricted stock cost was as follows: Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2014 45,180 $ 29.76 Granted 91,449 18.32 Vested (15,060) 29.76 Forfeited or expired - - Outstanding at June 30, 2015 121,569 $ 21.15 Granted - - Vested - - Outstanding at December 31, 2015 121,569 $ 21.15 Granted 124,989 3.04 Vested (45,543) 22.10 Outstanding at June 30, 2016 201,015 $ 9.68

Earnings_ (Loss) per Share

Earnings/ (Loss) per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	9 . Earnings/ (Loss) per Share All shares issued (including the restricted shares issued under the equity incentive plan ) are DCI 's common stock and have equal rights to vote and participate in dividends , subject to forfeiture provisions set forth in the applicable award agreement. Unvested shares granted under the Company's incentive plan of 201,015 , as at June 30, 2016, and 121 , 56 9 as at June 30, 2015 (Note 8) , receive d dividends which are not refundable, even if such shares are forfeited, and therefore are considered participating securities for basic earnings per share calculation purposes. Dividends declared and paid during the six months ended June 30 , 2016 and 2015 amounted to $374 and $369 , respectively . The calculation of basic earnings/ (loss) per share does not consider the non-vested shares as outstanding until the time-based vesting restrictions have lapsed. For the purpose of calculating diluted earnings per share , the weighted average number of diluted shares outstanding includes the incremental shares assumed issued as determined in accordance with the antidilution sequencing provisions of ASC 260 . For the six months ended June 30, 2016 and on the basis that the Company incurred losses, the effect of the incremental shares assumed issued would have been anti-dilutive and therefore basic and diluted losses per share is the same amount . 2016 2015 Basic LPS Diluted LPS Basic EPS Diluted EPS Net income/(loss) $ (13,777) $ (13,777) $ 388 $ 388 Earnings/ (Loss) available to common stockholders (13,777) (13,777) 388 388 Weighted average number of common shares, basic 9,140,744 9,140,744 9,104,270 9,116,010 Effect of dilutive restricted shares - - - 11,740 Weighted average number of common shares, diluted 9,140,744 9,140,744 9,104,270 9,127,750 Earnings/ (Loss) per common share, basic and diluted $ (1.51) $ (1.51) $ 0.04 $ 0.04

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2016
Financial Instruments [Abstract]
Financial Instruments	10 . Financial Instruments The carrying values of temporary cash investments, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. The fair value of long-term loan s and restricted cash balances, bearing interest at variable interest rates, approximate their recorded values as at June 30 , 2016 and December 31, 2015 .

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	11 . Subsequent Events Suspension of Dividends: On July 2 5 , 2016 , the C ompany's Board of Directors decided to suspend the quarterly cash dividend effective from the second quarter 2016, to preserve the Company´s liquidity to manage current market conditions and be in a position to benefit from an eventual sector recovery. Amendment of RBS Loan Agreement: On September 12 , 2016, the Company entered into an amendment of its loan agreement with RBS (Note 6 ), according to which the Company prepaid an amount of $7,607 and agreed to change the repayment schedule and recommence repaying the principal on September 15, 2017. Moreover, the loan amendment provides for changes to the borrowers and to the mortgaged vessels and required an a mendment to the loan agreement with DSI (see Note 3 and below under c). It also prohibits the incurrence of additional indebtedness and the acquisition of additional vessels until September 15, 2018, and the payment of dividends until the later of: (a) prepayment or repayment in full on June 15, 2021 of the deferred tranche of $8,851 and (b) September 15, 2018. Furthermore, the minimum security covenant (“hull cover ratio”) was reduced from 140% to 125% until September 30, 2018 and the Operating Cash Flow, Net Gearing and Net Worth covenants were also amended. Finally, the interest rate margin increased from 2.75% per annum to 3.10% per annum until December 31, 2018. Amendment of DSI Loan Agreement: On September 12 , 2016 and in relation with the RBS amended loan agreement discussed under b) above, the loan agreement with DSI was further amended (Note 3 c ). The loan was undertaken by Kapa Shipping Company Inc. , a wholly-owned subsidiary of the Company , and its repayment is immediately suspended and will not recommence until the later of: ( i ) September 15, 2018 and (ii) until the deferred tranche of the RBS amended agreement has been fully repaid or prepaid. Finally, the margin has been increased to 3.35% per annum until December 31, 2018 .

Significant Accounting Polici20

Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Recent Accounting Pronouncements	2 . Recent Accounting Pronouncements (a ) In March 2016, the Financial Accounting Standards Board (“ FASB ”) issued Accounting Standards Update ("ASU" or "Update") No. 2016-09- Compensation-Stock Compensation – Improvements to Employee Share-Based Payment Accounting (Topic 718) which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess Tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period, however early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures. ( b ) In June 2016, the FASB issued ASU No. 2016-13– Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For public entities, the amendments of this Update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early application is permitted. Management is in the process of assessing the impact of the amendment of this Update on the Company's consolidated financial position and performance. ( c ) In August 2016, the FASB issued ASU No. 2016-15- Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments which addresses the following eight specific cash flow issues with the objective of reducing the existing diversity in practice: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 including interim periods within that reporting period, however early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures. (d ) A discussion of the Company's significant accounting policies can be found in the Company's consolidated financial statements included in the Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed with the SEC on March 21, 2016. There have been no material changes to these policies in the six-month period ended June 30, 2016, apart from the below. Consolidation: In February 2015, the FASB issued ASU No. 2015-02: Consolidation - Amendments to the Consolidation Analysis, which changes the guidance as to whether an entity is a variable interest entity (VIE) or a voting interest entity and how related parties are considered in the VIE model. As of June 30, 2016, the Company has adopted the provisions of ASU 2015-02, which did not impact the consolidated financial statements .

General Information (Tables)

General Information (Tables)	6 Months Ended
	Jun. 30, 2016
General Information [Abstract]
Schedule Of Subsidiaries [Table Text Block]	a/a Company Place of Incorporation Vessel Flag TEU Date built Date acquired Date sold Vessel Owning Subsidiaries - Panamax Vessels 1 Likiep Shipping Company Inc. Marshall Islands Sagitta Marshall Islands 3,426 Jun-10 Jun-10 - 2 Orangina Inc. Marshall Islands Centaurus Marshall Islands 3,426 Jul-10 Jul-10 - 3 Rongerik Shipping Company Inc. Marshall Islands Domingo (ex Cap Domingo) Marshall Islands 3,739 Mar-01 Feb-12 - 4 Utirik Shipping Company Inc. Marshall Islands Cap Doukato Marshall Islands 3,739 Feb-02 Feb-12 - 5 Dud Shipping Company Inc. Marshall Islands Pamina (ex Santa Pamina) Marshall Islands 5,042 May-05 Nov-14 - 6 Kapa Shipping Company Inc. Marshall Islands YM Los Angeles Marshall Islands 4,923 Dec-06 Apr-15 - 7 Mago Shipping Company Inc. Marshall Islands YM New Jersey Marshall Islands 4,923 Nov-06 Apr-15 - Vessel Owning Subsidiaries - Post-Panamax Vessels 8 Eluk Shipping Company Inc. Marshall Islands Puelo Marshall Islands 6,541 Nov-06 Aug-13 - 9 Oruk Shipping Company Inc. Marshall Islands Pucon Marshall Islands 6,541 Aug-06 Sep-13 - 10 Delap Shipping Company Inc. Marshall Islands March (ex YM March) Marshall Islands 5,576 May-04 Sep-14 - 11 Jabor Shipping Company Inc. Marshall Islands Great (ex YM Great) Marshall Islands 5,576 Apr-04 Oct-14 - 12 Meck Shipping Company Inc. Marshall Islands Rotterdam Marshall Islands 6,494 Jul-08 Sep-15 - 13 Langor Shipping Company Inc. Marshall Islands Hamburg Marshall Islands 6,494 Mar-09 Nov-15 - Vessel Owning Subsidiaries - Sold Vessels 14 Lemongina Inc. Marshall Islands Garnet (ex Apl Garnet) Marshall Islands 4,729 Aug-95 Nov-12 Sep-15 15 Nauru Shipping Company Inc. (Note 4) Marshall Islands Hanjin Malta Marshall Islands 4,024 Jan-93 Mar-13 Feb-16 Other Subsidiaries 16 Unitized Ocean Transport Limited Marshall Islands Management company - - - - 17 Container Carriers (USA) LLC Delaware - USA Company's US representative - - - -
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	Charterer 2016 2015 A 34% 23% B - 10% C 14% 28% D 22% - E - 14% F - 13%

Vessels (Tables)

Vessels (Tables)	6 Months Ended
	Jun. 30, 2016
Property Plant And Equipment [Abstract]
Schedule Of Property Plant And Equipment [Table Text Block]	Vessels' Cost Accumulated Depreciation Net Book Value Balance, December 31, 2015 $ 421,903 $ (37,354) $ 384,549 - Additional capitalized costs 194 - 194 - Vessels' disposals (7,000) 1,980 (5,020) - Depreciation for the period - (6,749) (6,749) Balance, June 30, 2016 $ 415,097 $ (42,123) $ 372,974

Prepaid Charter Revenue (Tables

Prepaid Charter Revenue (Tables)	6 Months Ended
	Jun. 30, 2016
Prepaid Charter Revenue [Abstract]
Prepaid Charter Revenue Movement [Table Text Block]	Gross Amount Accumulated Amortization Net Amount Balance, December 31, 2015 $ 27,000 $ (23,202) $ $ 3,798 - Amortization for the period - (2,709) (2,709) - Write-off of fully amortized assets (8,500) 8,500 - Balance, June 30, 2016 $ 18,500 $ (17,411) $ $ 1,089

Long-Term Bank Debt, Current 24

Long-Term Bank Debt, Current and Non-Current (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Instruments [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	June 30, 2016 Current Non-current December 31, 2015 Current Non-current The Royal Bank of Scotland plc - Term Loan $ 136,999 $ 8,138 $ 128,861 $ 144,687 $ 15,376 $ 129,311 less unamortized deferred financing costs (1,764) (451) (1,313) (2,009) (479) (1,530) Total bank debt, net of unamortized deferred financing costs $ 135,235 $ 7,687 $ 127,548 $ 142,678 $ 14,897 $ 127,781
Schedule of maturities of Long-term Debt [Table Text Block]	Period Principal Repayment July 1, 2016 to June 30, 2017 $ 8,138 July 1, 2017 to June 30, 2018 8,138 July 1, 2018 to June 30, 2019 18,046 July 1, 2019 to June 30, 2020 19,816 July 1, 2020 to June 30, 2021 19,816 July 1, 2021 and thereafter 63,045 Total $ 136,999

Changes in Capital Accounts (Ta

Changes in Capital Accounts (Tables)	6 Months Ended
	Jun. 30, 2016
Changes in Capital Accounts [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2014 45,180 $ 29.76 Granted 91,449 18.32 Vested (15,060) 29.76 Forfeited or expired - - Outstanding at June 30, 2015 121,569 $ 21.15 Granted - - Vested - - Outstanding at December 31, 2015 121,569 $ 21.15 Granted 124,989 3.04 Vested (45,543) 22.10 Outstanding at June 30, 2016 201,015 $ 9.68

Earnings_ (Loss) per Share (Tab

Earnings/ (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2016 2015 Basic LPS Diluted LPS Basic EPS Diluted EPS Net income/(loss) $ (13,777) $ (13,777) $ 388 $ 388 Earnings/ (Loss) available to common stockholders (13,777) (13,777) 388 388 Weighted average number of common shares, basic 9,140,744 9,140,744 9,104,270 9,116,010 Effect of dilutive restricted shares - - - 11,740 Weighted average number of common shares, diluted 9,140,744 9,140,744 9,104,270 9,127,750 Earnings/ (Loss) per common share, basic and diluted $ (1.51) $ (1.51) $ 0.04 $ 0.04

General information, textuals (

General information, textuals (Details)	5 Months Ended	6 Months Ended
	Jun. 09, 2016	Jun. 30, 2016
Entity Incorporation, Date of Incorporation		Jan. 7, 2010
Entity Incorporation, State Country Name		the Republic of Marshall Islands
Reverse Stock Split	1 for 8 reverse stock split on its issued and outstanding common stock.

General Information, details (D

General Information, details (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)teu
Likiep Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	3,426
Orangina Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	3,426
Rongerik Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	3,739
Utirik Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	3,739
Dud Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	5,042
Kapa Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	4,923
Mago Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	4,923
Eluk Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	6,541
Oruk Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	6,541
Delap Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	5,576
Jabor Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	5,576
Meck Shipping Company Inc Member [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	6,494
Langor Shipping Company Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	6,494
Lemongina Inc [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	4,729
Nauru Shipping Company Inc (Note 4) [Member]
Capacity By Subsidiary And Fees [Line Items]
Vessel capacity in TEU	4,024
Unitized Ocean Transport Limited [Member]
Capacity By Subsidiary And Fees [Line Items]
Commissions percentage on charters	2.00%
Monthly management fee, operating vessels | $	$ 15
Monthly management fee, laid up vessels | $	8
Monthly administrative fee | $	$ 10

General information, details 2

General information, details 2 (Details)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Sales Revenue Net [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%	10.00%
Major Customer A [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	34.00%	23.00%
Major Customer B [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		10.00%
Major Customer C [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	14.00%	28.00%
Major Customer D [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	22.00%
Major Customer E [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		14.00%
Major Customer F [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		13.00%

Transactions with related par30

Transactions with related parties, textuals (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Feb. 24, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Related party financing, current	$ 833			$ 5,000
Due to related parties, current	210			105
Altair Travel Agency Sa [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	504	$ 579
Due to related parties, current	58			17
Diana Enterprises Inc [Member]
Related Party Transaction [Line Items]
Monthly brokerage fee	$ 121
Contract maturity date	Mar. 31, 2016
Related party transaction, amounts of transaction	$ 1,025	726
Due from related parties, current	0			0
Due to related parties, current	0			0
Bonus approved and paid			$ 242
Diana Enterprises Inc [Member] | Renewed Agreement [Member]
Related Party Transaction [Line Items]
Monthly brokerage fee	$ 140
Contract maturity date	Mar. 31, 2017
Diana Shipping Inc [Member]
Related Party Transaction [Line Items]
Due to related parties, current	$ 97			103
Interest expense on related party debt	$ 822	$ 1,615
Diana Shipping Inc [Member] | Loans Payable [Member]
Related Party Transaction [Line Items]
Debt instrument issuance date	May 20, 2013
Debt instrument face amount	$ 50,000
Debt instrument description of variable rate basis	LIBOR
Loan margin percentage	5.00%
Back-end fee percentage	1.25%
Debt instrument maturity date	Aug. 20, 2017
Diana Shipping Inc [Member] | Loans Payable - Amendment Agreement [Member]
Related Party Transaction [Line Items]
Debt instrument issuance date	Sep. 9, 2015
Debt instrument, Annual principal payment	$ 5,000
Debt instrument description of variable rate basis	LIBOR
Loan margin percentage	3.00%
Debt instrument maturity date	Mar. 15, 2022
Flat fee at final maturity date	$ 200			$ 200
Accrued back-end fee on related party debt	1,302
Diana Shipping Inc [Member] | Amendment of RBS Loan Agreement [Member]
Related Party Transaction [Line Items]
Related party financing, current	$ 833
Loan margin percentage	3.35%

Vessels, textuals (Details)

Vessels, textuals (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Loss on vessels' sale	$ (497)	$ 0
Hanjin Malta [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale of vessels	4,842
Direct To Sale Expenses [Member]
Property, Plant and Equipment [Line Items]
Loss on vessels' sale	$ 319

Vessels, detail (Details)

Vessels, detail (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Movement in Property, Plant and Equipment [Roll Forward]
Vessels' cost, beginning balance	$ 421,903
Additional capitalized costs	194
Vessels' disposals	(7,000)
Vessels' cost, ending balance	415,097
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward]
Accumulated depreciation, beginning balance	(37,354)
Vessels' disposals	1,980
Depreciation for the period	(6,749)
Accumulated depreciation, ending balance	(42,123)
Property, Plant and Equipment, Net, by Type [Abstract]
Vessels' net book value, beginning balance	384,549
Additional capitalized costs	194
Vessels' disposals	(5,020)
Depreciation for the period	(6,749)
Vessel's net book value, ending balance	$ 372,974

Vessels, textuals 2 (Details)

Vessels, textuals 2 (Details) $ in Thousands	Jun. 30, 2016USD ($)
Property Plant And Equipment [Abstract]
Collateral vessels carrying amount	$ 271,147

Prepaid charter revenue, detail

Prepaid charter revenue, detail (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Movement In Intangible Assets [Roll Forward]
Time charter aquired, gross, beginning balance	$ 27,000
Write-off of fully amortized asset, cost	(8,500)
Time charter aquired, gross, ending balance	18,500
Movement In Accumulated Amortization Of Finite Lived Intangible Assets [Roll Forward]
Time charter aquired, accumulated amortization, beginning balance	(23,202)
Amortization for the period	(2,709)	$ (4,482)
Write-off of fully amortized asset, accumulated amortization	8,500
Time charter aquired, accumulated amortization, ending balance	(17,411)
Prepaid Charter Revenue Net [Abstract]
Time charter acquired, net, beginning balance	3,798
Amortization for the period	(2,709)	$ (4,482)
Time charter acquired, net, ending balance	$ 1,089

Long-term bank debt, current 35

Long-term bank debt, current and non current, detail (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Long Term Bank Debt [Abstract]
Royal Bank of Scotland - Term Loan	$ 136,999	$ 144,687
Royal Bank of Scotland - Term Loan Current	8,138	15,376
Royal Bank of Scotland - Term Loan non-current	128,861	129,311
less unamortized deferred financing costs	(1,764)	(2,009)
Total bank debt, net of uamortized deferred financing costs	135,235	142,678
less unamortized deferred financing costs, current	(451)	(479)
Total Current bank debt, net of unamortized deferred financing costs	7,687	14,897
less unamortized deferred financing costs, non-current	(1,313)	(1,530)
Total Non - current bank debt, net of unamortized deferred financing costs	$ 127,548	$ 127,781

Long-term bank debt, current 36

Long-term bank debt, current and non current, textuals 1 (Details) - Rbs Term Loan [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Line Of Credit Facility [Line Items]
Debt instrument issuance date	Sep. 10, 2015
Debt instrument face amount	$ 148,000
Debt instrument maturity date	Sep. 15, 2021
Debt Instrument Frequency Of Periodic Payment	quarterly
Debt instrument description of variable rate basis	LIBOR
Loan margin percentage	2.75%
Debt Issuance Costs		$ 1,875
Debt Instrument Priority	first preferred mortgages on nine vessels of the Company's fleet, first priority deeds of assignments of insurances, earnings, charter rights and requisition compensation and a corporate guarantee.
Debt Instrument Covenant Description	There are also restrictions as to changes in the loan agreement with DSI, in the securities purchase agreement that the Company entered into in the private placement which took place in July 2014, in certain shareholdings and management of the vessels.
Debt Instrument Dividend Restrictions	Finally, the Company is not permitted to pay any dividends that would result in a breach of the financial covenants.
Commitment fee percentage	1.375%
Restricted cash description	The loan agreement also contains customary financial covenants, minimum security value of the mortgaged vessels, requires minimum liquidity of $500 per vessel in the fleet and restricted cash of $9,000 to be deposited by the borrowers with the lenders for the duration of the loan.
Restrcited cash to be deposited	$ 9,000
Number Of Vessels Collateral For Debt	9
Borrower Minimum Liquidity Per Vessel	$ 500
Comnpany's Vessels [Member]
Line Of Credit Facility [Line Items]
Number Of Vessels Collateral For Debt	7
Newly Acquired Vessels [Member]
Line Of Credit Facility [Line Items]
Number Of Vessels Collateral For Debt	2

Long-term bank debt, current 37

Long-term bank debt, current and non current, textuals 2 (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Line Of Credit Facility [Line Items]
Interest costs incurred on bank-debt	$ 2,388	$ 1,626

Long-term bank debt, current 38

Long-term bank debt, current and non current, detail 2 (Details) - Rbs Term Loan [Member] $ in Thousands	Jun. 30, 2016USD ($)
Debt Instrument [Line Items]
July 1, 2016 to June 30, 2017	$ 8,138
July 1, 2017 to June 30, 2018	8,138
July 1, 2018 to June 30, 2019	18,046
July 1, 2019 to June 30, 2020	19,816
July 1, 2020 to June 30, 2021	19,816
July 1, 2021 and thereafter	63,045
Total	$ 136,999

Commitments and Contingencies,

Commitments and Contingencies, textuals (Details) $ in Billions	6 Months Ended
	Jun. 30, 2016USD ($)
Commitments and Contingencies [Abstract]
Insurance Maximum Amount	$ 1
Policy year closing period	3 years

Commitments and Contingencies40

Commitments and Contingencies, textuals 2 (Details) $ in Thousands	Jun. 30, 2016USD ($)
Operating Leases Future Minimum Payments Receivable [Abstract]
Minimum Future Revenues Year One	$ 11,606

Changes in Capital Accounts, te

Changes in Capital Accounts, textuals (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 14, 2016	Jun. 09, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Stockholders Equity Reverse Stock Split		1 for 8 reverse stock split on its issued and outstanding common stock.
Common stock shares issued			9,361,274		9,236,285
Restricted common stock, award vesting period			3 years
Compensation cost on restricted stock awards			$ 552	$ 422
Unrecognized cost for restricted stock awards			$ 1,625		$ 1,797
Period for recognition for unrecognized compensation cost			1 year 5 months 7 days
Receipt Of Nasdaq Notice [Member]
Minimum Bid Price	$ 1
Closing Bid Price Threshold Consecutive Trading Days	30 days
Prior To Reverse Stock Split [Member]
Common stock shares issued		74,890,570

Changes in Capital Accounts, de

Changes in Capital Accounts, detail (Details) - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of shares, beginning balance	121,569	45,180
Granted	124,989	91,449
Vested	(45,543)	(15,060)
Number of shares, ending balance	201,015	121,569
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Weighted average grant date fair value, beginning balance	$ 21.15	$ 29.76
Granted, Weighted Average Grant Date Fair Value	3.04	18.32
Vested, Weighted Average Grant Date Fair Value	22.10	29.76
Weighted average grant date fair value, ending balance	$ 9.68	$ 21.15

Earnings _ (Loss) per share, te

Earnings / (Loss) per share, textuals (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested shares granted under the company's incentive plan	201,015	121,569	121,569	45,180
Dividends declared and paid during the period	$ 374	$ 369

Earnings _ (Loss) per share, de

Earnings / (Loss) per share, detail (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income/(loss)	$ (13,777)	$ 388
Weighted average number of common shares, basic	9,140,744	9,104,270
Weighted average number of common shares, diluted	9,140,744	9,116,010
Earnings/ (Loss) per common share, basic and diluted	$ (1.51)	$ 0.04
Earnings / (Loss) per Share Basic [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income/(loss)	$ (13,777)	$ 388
Earnings/ (Loss) available to common stockholders	$ (13,777)	$ 388
Weighted average number of common shares, basic	9,140,744	9,104,270
Effect of dilutive restricted shares	0	0
Weighted average number of common shares, diluted	9,140,744	9,104,270
Earnings/ (Loss) per common share, basic and diluted	$ (1.51)	$ 0.04
Earnings / (Loss) Per Share Diluted [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income/(loss)	$ (13,777)	$ 388
Earnings/ (Loss) available to common stockholders, diluted	$ (13,777)	$ 388
Weighted average number of common shares, basic	9,140,744	9,116,010
Effect of dilutive restricted shares	0	11,740
Weighted average number of common shares, diluted	9,140,744	9,127,750
Earnings/ (Loss) per common share, basic and diluted	$ (1.51)	$ 0.04

Subsequent events, textuals (De

Subsequent events, textuals (Details) - Subsequent Event [Member] $ in Thousands	8 Months Ended
	Sep. 12, 2016USD ($)
Amendment of RBS Loan Agreement [Member]
Subsequent Event [Line Items]
Amount prepaid	$ 7,607
Debt Instrument Covenant Description	The loan amendment provides for changes to the borrowers and to the mortgaged vessels and required an amendment to the loan agreement with DSI (see Note 3 and below under c). It also prohibits the incurrence of additional indebteness and the acquisition of additional vessels until September 15, 2018, and the payment of dividends until the later of: (a) prepayment or repayment in full on June 15, 2021 of the deferred tranche of $8,851 and (b) September 15, 2018. Furthermore, the minimum security covenant ("hull cover ratio") was reduced from 140% to 125% until September 30, 2018 and the Operating Cash Flow, Net Gearing and Net Worth covenants were also amended. Finally, the interest rate margin increased from 2.75% per annum to 3.10% per annum until December 31, 2018.
Repayment of deferred tranche	$ 8,851
Prior To Amendment [Member] | Amendment of RBS Loan Agreement [Member]
Subsequent Event [Line Items]
Loan margin percentage	2.75%
Minimum Security Covenant	140.00%
After Amendment [Member] | Amendment of RBS Loan Agreement [Member]
Subsequent Event [Line Items]
Loan margin percentage	3.10%
Minimum Security Covenant	125.00%
After Amendment [Member] | Amendment Of DSI Loan Agreement [Member]
Subsequent Event [Line Items]
Loan margin percentage	3.35%