Italy-based Perseverenza di Navigazione has reached a financial restructuring agreement with its lenders, according to reports. The $160m agreement consists of rescheduling the loan repayments from 2017 to 2021. The sale of further ships was not thought to be part of the deal. Two bulk carriers, Cinzia D’Amato and Umberto D’Amato, were sold a year ago. Perseveranza’s fleet is made up of five ships: three MR2 tankers, one handysize bulker and one post-panamax bulk carrier.