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 tonnage in carrying capacity.
“As the containership 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.
“Seamax is well-known in the shipping industry for their expertise in operating and managing container ships and other transportation assets,” said Evan Cohen, managing director and group head for CIT’s Maritime Finance business. “We’re pleased to work with them again to arrange financing to support their business goals.”
CIT’s Maritime Finance business, part of its Commercial Finance group, offers customized solutions for secured loans to a global client base of vessel owners and operators.