Diana Containerships has taken one of its vessels out of lay-up after signing a new time charter contract.

But the rate remains about half of what the ship was earning two years ago.

New York-listed Diana said it signed the time charter agreement with Orient Overseas Container Line for a post-panamax container vessel, the 5,576-teu Great (built 2004).

The gross charter rate is $7,300 per day, minus a 3.75%