Tamai Steamship has renegotiated repayment terms on loan agreements with its main lenders after breaching financial covenants.
The company said it fell out of compliance with some of its loan covenants after the collapse of the dry bulk market damaged its operating cash flow in relation to its interest-bearing debt.
Amid continued concern over the future of the dry bulk market it entered into talks with its main lenders to restructure its loans.
