New York-listed Diana says the 77,500-dwt Atalandi has been fixed for 11 to 14 months at $13,500 daily.

The rate compares with the $7,300 daily available in the spot market right now.

Brokers report an increase in activity out of South America in the past few days which is starting to aid rates in the basin after a difficult period.

Diana paid $29m for the vessel at Jiangnan Shipyard in March 2012 and it is one of the bulkers coveredby a $30m loan from CEXIMand DnB.

Diana