** Shipping company’s shares up 6 pct at $6.84 ** Enters time charter contract with China Shipping Bulk Carrier Co Ltd, Hong Kong, for Panamax dry bulk vessel ** The gross charter rate is $6,000/day for a period of minimum 10 months to maximum 14 months ** Says contract expected to generate about $1.8 mln of gross revenue for the minimum period ** Up to Friday’s close, shares had fallen 44 pct in the past 12 months