First Citizens Bank Archives - Maritime Shipping News

First Citizens Bank provides financing for new Euroseas containership

25 June 2024

First Citizens Bank reports that its maritime finance business has provided a senior secured loan of $22 million to Euroseas Ltd. for the financing for a newbuild 2,800 TEU Eco containership.

Formed in 2005, Euroseas [Nasdaq: ESEA] is an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes. The company has a fleet of 22 vessels, including 15 feeder containerships and seven intermediate containerships. Euroseas’ 22 containerships have a...

https://www.marinelog.com/legal/shipping/first-citizens-bank-provides-financing-for-new-euroseas-containership/

First Citizens Bank Arranges $44.2M in Debt for Navios Maritime

19 January 2023

Credits: Dmitry Demidko/Unsplash

First Citizens Bank’s maritime finance business, part of the bank’s CIT division, served as sole lead arranger on $44.2 million in debt financing secured by product tankers for Navios Maritime Partners, which will use proceeds from the financing to refinance existing debt, reports Monitor Daily.

“We previously worked closely with [CIT Maritime Finance] and we have come to value their expertise in arranging financing,” Eri Tsironi, CFO of Navios Partners, said.

“Navi...

https://mfame.guru/first-citizens-bank-arranges-44-2m-in-debt-for-navios-maritime/

CIT provides $80 million to refinance 2 box ships

12 July 2022

CIT, a division of First Citizens Bank, today announced that its Maritime Finance business provided $80 million to refinance two Korean-built containerships operated by Seamax Capital. Founded in 2012 to make investments in the transportation sector, Seamax currently operates a fleet of 12 modern, post-Panamax containerships totaling over 100,000 TEU of container capacity. The fleet is deployed in major trade lanes and provides the world’s top shipping lines with over 1.2 million deadweight...

https://www.marinelog.com/legal-safety/shipping/cit-provides-80-million-to-refinance-2-box-ships/