Diana Shipping has fixed one of its panamax bulk carriers to Uniper Global Commodities at a rate higher than its current earnings.

The 81,297-dwt Leto (built 2010) was fixed to the trader for 11 to 13 months at a gross daily rate of $13,000, minus 5% commission for third parties.

The Leto is concluding a 16-month charter to Glencore Agriculture, during which it was earning a gross rate of $12,500 per day, minus a 5% commission.

On Wednesday, Diana announced its plans to prorate its oversubscribed share buyback offer, so that each tendering investor can sell back at least some shares.