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...