Diana Shipping has fixed a newcastlemax bulker to commercial manager C Transport Maritime at a rate that beats the paper market for the next two years.

The Semiramis Paliou-led owner of 35 bulkers has chartered the 206,040-dwt Philadelphia (built 2012) to the Monaco-based firm at $26,000 per day to at least 1 February 2024.

CTM has options to extend the contract, which commenced on Tuesday, until as late as 15 April 2024.