The vessel's time charter will be for a minimum of 5 years and a maximum of 8 years, at $26,000 per day, the company said.
"We have fixed the vessel for a minimum period of 5 years generating approximately $44 million for the charter duration," Chief Executive Anthony Kandylidis said in a statement.
The vessel is scheduled for delivery before Nov. 30. OceanFreight shares rose as much as 9 cents to $1.34 in trading after the bell.