ATHENS, Greece, November 11, 2011 –Box Ships Inc. (NYSE: TEU), or the Company, a global shipping company specializing in the seaborne transportation of containers, announced today its results for the third quarter of 2011 and for the period from its Initial Public Offering on April 14, 2011 (“IPO”) to September 30, 2011 (“period ended September 30, 2011”).
Third Quarter 2011 Highlights:
- Reported Net Income of $5.1 million or $0.32 per basic and diluted share
- EBITDA of $10.1 million
- Earned an average time charter equivalent rate of $24,371 per vessel per day
- Fleet utilization of 100% for the second consecutive reporting period in 2011
- Dividend declaration of $0.30 per share payable on or about November 29, 2011