Diana Shipping (DSX) said Monday that its unit agreed to a time charter contract with Bunge for Ultramax dry bulk vessel, the motor vessel DSI Aquarius.

The charter is between 10 to 12 months with a rate of $13,300 per day minus 5% paid in third-party commissions.

The company said the charter starts Dec. 6 and will generate about $4 million in gross revenue for the minimum scheduled period.

Shares of Diana were up 7.9% in recent trading.

Price: 1.92, Change: +0.14, Percent Change: +7.87