Greek dry bulk owner Diana Shipping has sealed a time charter contract with SwissMarine Services for 2002-built capesize Norfolk.

The charter is for a period of 21-24 months at a rate of $13,250 per day, a 10% increase on the $12,000 being paid by the previous charterer Trafigura Maritime Logistics.

Commencing December 1, the charter is expected to generate around $8.35m based on the minimum time charter period.