Diana Shipping has chartered out one of the two panamax bulkers it acquired last year from Foremost Maritime.

The Simeon Palios-led company entered a time charter contract with Uniper Global Commodities for the 87,146-dwt Phaidra (built 2013).

The Phaidra will earn $12,700 per day, minus a 5% commission, for a term lasting between 12 and 15 months.

One-year panamax time-charter rates were assessed at $13,215 per day in December, Clarksons says.