Greek dry bulk owner Diana Shipping has sealed new time charter contracts for two of its vessels.

2013-built post-Panamax bulk carrier, Electra, has gone on charter to German operator Oldendorff Carriers for a period of 11-13 months. The charter commenced last week and is at a rate of $10,250 per day, significantly lower than the $13,500 per day being paid on the previous charter to Uniper.

Separately, 2004-built Panamax Protefs has been signed to a time charter contract with Phaethon International. The charter is scheduled to commence this week at a rate of $9,900 per day and runs through to a minimum of January 1, 2021 up to maximum March 31, 2021. The vessel is coming off charter to Hudson Shipping Lines at a rate of $11,000 per day.

Diana Shipping says the charter will generate around $7.29m based on the minimum time charter periods.