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CIT provides $80M to refinance two container ships

Jul. 12, 2022 9:31 AM ETFirst Citizens BancShares, Inc. (FCNCA) StockBy: Pranav Ghumatkar, SA News Editor
  • CIT, a division of First Citizens Bank has announced that its Maritime Finance business provided $80M to refinance two Korean-built container ships operated by Seamax.
  • Seamax is well-known in the shipping industry for their expertise in operating and managing container ships and other transportation assets.
  • "As the container ship market remains strong and our charter exposure solid, we appreciate CIT's expertise in arranging financing for these vessels, which aids us in executing on our business strategy," said Ron Petrunoff, managing partner at Seamax.

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