Rickmers Maritime Trust (B1ZU.SG) is up 6.3% to 42 cents likely to rise on relief of financial pressure as vessel owner extends maturity of US$130 million ($178 million) loan, due this month, by five years, secures waiver for up to three years of loan covenants tied to value of its assets, reports Dow Jones.

The stock under pressure for months on uncertainty about whether RMT able to meet its debt, capex obligations; concerns exacerbated last month when auditor PwC flagged risks over company’s ability to continue operations.

Besides loan extension, waiver, RMT has also secured assurance that its US$918.7 million ($1.3 billion) outstanding capex commitments involving 7 vessels will be cancelled. While new terms will give RMT breathing space as it works to beef up balance sheet, it contends with higher interest costs as annual interest rate for outstanding loans will be raised to 1.75% + 3-month USD Libor, representing 0.55%-1.05% increase over current levels.