Michael Bodouroglou's Box Ships struck agreements with Credit Suisse and ABN Amro to push back payments for $132m in loans.

The agreements means the company will not have to make payments on any of its loans until the first quarter of next year, if Box Ships meets conditions of the loan.

"These terms illustrate the ongoing support of our lenders and will enable us to operate our vessels at lower fixed cost break-even rates," said Bodouroglou, the company's chief executive.