Box Ships Inc. Takes Delivery of Third Containership
News Release
Box Ships Inc.
May 9, 2011
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<P align=left>ATHENS, Greece, May 9, 2011 </B></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">– </FONT></FONT><FONT
size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">Box Ships
Inc., (NYSE: TEU), or the Company, a global shipping</P>
<P align=left>company specializing in the transportation of containers,
announced today that it has taken delivery of the</P></FONT></FONT><I><FONT
size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>Maule</I></FONT></FONT><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">, a 6,589 TEU container vessel built in 2010, from
an unaffiliated third party. This vessel has a</P>
<P align=left>fixed rate period time charter term of five years (with charter
option of plus / minus 30 days) with CSAV</P>
<P align=left>Valparaiso Chile at a gross daily charter rate of $38,000.</P>
<P align=left>The </FONT></FONT><I><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">Maule </I></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">is the third of the
</FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">six vessels comprising the Company’s initial fleet
</FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">to be delivered. The</P>
<P align=left>remaining three vessels include two 5,095 TEU 2007 built
containerships, the </FONT></FONT><I><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">CMA CGM Kingfish </I></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">and</P>
<P align=left>the </FONT></FONT><I><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">CMA CGM Marlin, </I></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">and one 4,546 TEU
2006 built containership, the </FONT></FONT><I><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">MSC Siena.
</I></FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">Following the</P>
<P align=left>delivery of these remaining three vessels, Box
Ships</FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">’ </FONT></FONT><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">fleet will be comprised of six containerships with
a</P>
<P align=left>TEU weighted-average age of 2.5 years, a total capacity of 28,177
TEUs and a weighted-average</P>
<P>remaining charter duration of 35.3
months.</P></FONT></FONT></DIV></BODY></HTML>
<HTML><HEAD><TITLE></TITLE>
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<META name=GENERATOR content="MSHTML 8.00.6001.18904"></HEAD>
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<DIV><B><FONT size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>ATHENS, Greece, May 9, 2011 </B></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">– </FONT></FONT><FONT
size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">Box Ships
Inc., (NYSE: TEU), or the Company, a global shipping</P>
<P align=left>company specializing in the transportation of containers,
announced today that it has taken delivery of the</P></FONT></FONT><I><FONT
size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>Maule</I></FONT></FONT><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">, a 6,589 TEU container vessel built in 2010, from
an unaffiliated third party. This vessel has a</P>
<P align=left>fixed rate period time charter term of five years (with charter
option of plus / minus 30 days) with CSAV</P>
<P align=left>Valparaiso Chile at a gross daily charter rate of $38,000.</P>
<P align=left>The </FONT></FONT><I><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">Maule </I></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">is the third of the
</FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">six vessels comprising the Company’s initial fleet
</FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">to be delivered. The</P>
<P align=left>remaining three vessels include two 5,095 TEU 2007 built
containerships, the </FONT></FONT><I><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">CMA CGM Kingfish </I></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">and</P>
<P align=left>the </FONT></FONT><I><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">CMA CGM Marlin, </I></FONT></FONT><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">and one 4,546 TEU
2006 built containership, the </FONT></FONT><I><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">MSC Siena.
</I></FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">Following the</P>
<P align=left>delivery of these remaining three vessels, Box
Ships</FONT></FONT><FONT size=3 face="Times New Roman"><FONT size=3
face="Times New Roman">’ </FONT></FONT><FONT size=3 face="Times New Roman"><FONT
size=3 face="Times New Roman">fleet will be comprised of six containerships with
a</P>
<P align=left>TEU weighted-average age of 2.5 years, a total capacity of 28,177
TEUs and a weighted-average</P>
<P>remaining charter duration of 35.3
months.</P></FONT></FONT></DIV></BODY></HTML>