Greek shipping company Diana Containerships has secured a time charter contract for its Post-Panamax container vessel M/V March with German shipping giant Hapag-Lloyd.

Under the agreement, the 5,576 TEU boxship will work for Hapag-Lloyd for a period of nine to fourteen months, starting from February 23, 2017.

The parties agreed a gross charter rate of USD 1 per day for the first 15 days of the 2004-built boxship’s charter period, and USD 6,850 per day for the balance period of the time charter, in each case minus a 1.25% commission paid to third parties.

M/V March is expected to rack up USD 1.75 million of gross revenue for the minimum scheduled period of the time charter.

The 67,270 dwt containership was previously employed with intra-European container shipping firm SeaGo Line from July 3, 2016 to February 7, 2017, according to data provided by Diana Containerships.

During the previous charter period, the ship had a gross charter rate of USD 6,075 per day.

Diana Containerships’ fleet currently consists of 12 container vessels, including six Post-Panamax and six Panamax ships.