Updated from 11 a.m. ESTShares of DryShips ( DRYS) were on the rise Tuesday morning on news that the bulk carrier had amended its loan agreement with Piraeus Bank. DryShips said it has reached an agreement with Piraeus Bank to restructure two loan facilities totaling $220 million with $164.9 million currently outstanding. Shares rose 24.5% to close at $6.09. Under the terms of the deal, outstanding repayments will be reduced by roughly 47% in 2009 and by 21% in 2010. The deal also includes a covenant waiver through Jan. 1, 2011.