Castor Maritime has wasted no time in finding work for a panamax bulker it bought from Diana Shipping at the end of June.

The Cypriot shipowner said Germany's Oldendorff Carriers has taken the 73,593-dwt Arethusa (built 2007) for three to five months at $10,300 per day in rising dry markets.

Nasdaq-listed Castor expects to take delivery of the bulker in August.