Seanergy Maritime Holdings has received extensions on two loan facilities, one of which will mature in less than two weeks.
The Tsantanis Stamatis-led capesize specialist has received lender approval in the form of commitment letter to extend the loans' maturities to 31 December 2022 from 17 March 2020 and 10 November 2021.
"The underlying terms remain substantially the same, while the commitment letters provide, amongst others, that certain financial covenants and restrictions on dividend payments binding the company would no longer apply," the New York-listed company said in a statement.
The company's bank debt and other financial liabilities stood at $183m as of 31 December, down from $195m a year earlier.
Calls to the Greek owner seeking further details on the extensions were not immediately returned.
Its shares, which trade on the Nasdaq Stock Market under the ticker symbol SHIP, declined $0.05 to $0.27 by early afternoon Thursday.
It has a market capitalisation of $7.26m based on 26.9m shares.
Seanergy owns 10 capesize vessels, with a cargo-carrying capacity of 1.75 million dwt and an average fleet age of about 11 years.
