Greek dry bulk shipping company Diana Shipping has secured more work for one of its Capesize dry bulk vessels, the m/v Semirio.

The company inked a time charter contract with Hong Kong-based Pacific Bulk Cape Company for the 174,261dwt ship.

As informed, the gross charter rate is USD20,050 per day for a period of minimum ten to about twelve months. This is a considerably higher rate given that the 2007-built ship is currently chartered to Koch Shipping at USD14,150 per day.

The new charter is expected to commence on Aug. 30, 2018.

According to Diana, the employment is anticipated to generate approximately USD 6.02 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping's fleet currently comprises 50 dry bulk vessels. As of today, the combined carrying capacity of the company's fleet is approximately 5.8 million dwt with a weighted average age of 9 years.