Maritime Partners announced that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC ("USMMI") from Maersk Line, Limited.USMMI is engaged in chartering U.S. flag tanker and military support vessels...
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September 27, 2023, 06:00 AM
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Tradewind Finance, an international trade finance firm with headquarters in Germany, has successfully entered the bunker market, delivering a $2 million credit facility for an international bunker trader.Bunkering, or the process of replenishing a...
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July 25, 2023, 07:00 AM
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First Citizens Bank announced its Maritime Finance business arranged up to $30 million for affiliates of MSea Capital to refinance MR product tankers.MSea Capital, founded in 2012, is an international maritime investment and asset manager with...
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July 12, 2023, 07:15 AM
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First Citizens Bank announced its Maritime Finance group, part of the CIT division, arranged to provide Nordic Handysize IV AS, a subsidiary of Nordic Hamburg, $10 million to finance two dry bulk ships.Nordic Hamburg is a full-service ship owner and...
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June 27, 2023, 07:07 AM
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First Citizens Bank announced its Maritime Finance group, part of the CIT division, has successfully completed the acquisition of $123 million of Greek shipping loans, sharply increasing the bank's maritime financings for clients in Greece.The loan...
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June 21, 2023, 07:18 AM
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First Citizens Bank announced its Maritime Finance group, part of the CIT division, provided financing to Purus Clean Energy, a subsidiary of Purus Marine, to support the acquisition of the MV Green Power, a 40,000 cbm ammonia carrier.Purus Marine...
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March 03, 2023, 07:10 AM
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First Citizens Bank announced its Maritime Finance group, part of the CIT division, served as sole lead arranger on $44.2 million in debt financing for Navios Maritime Partners L.P. (Navios Partners). Proceeds from the financing, which is secured by...
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January 19, 2023, 07:05 AM
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CIT, a division of First Citizens Bank, announced its Maritime Finance business has increased its financing for Globus Maritime Limited by $18 million. The lending increase expands CIT's relationship with Globus Maritime and raises CIT's total...
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August 26, 2022, 07:15 AM
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CIT, a division of First Citizens Bank, announced its Maritime Finance business provided $80 million to refinance two Korean-built container ships operated by Seamax."As the container ship market remains strong and our charter exposure solid, we...
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July 13, 2022, 07:18 AM
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CIT, a division of First Citizens Bank, announced its Maritime Finance business has increased its financing of Crowley, a global shipping and logistics company, to a total of $57 million as part of a larger credit facility. This financing applies to...
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June 09, 2022, 07:15 AM
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CIT, a division of First Citizens Bank, announced its Maritime Finance business served as sole lead arranger on up to $30.5 million in financing to expand Lomar Shipping's portfolio of dry bulk vessels.The financing, which will be used to acquire...
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May 25, 2022, 07:16 AM
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CIT, a division of First Citizens Bank, announced its Maritime Finance business has increased its financing for Polska Zegluga Morska Capital Group, also known as Polsteam Group, by $10 million via a secondary purchase.CIT Maritime's loan expands its...
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May 06, 2022, 07:15 AM
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36th Street Capital announced it recently funded a $10 million equipment financing of barges and marine equipment for a marine transportation equipment company.“We’re very excited to get this deal closed in the first quarter,” said Mark Horan, Chief...
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April 05, 2022, 07:20 AM
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CIT Group Inc. announced that its Maritime Finance business provided $35.5 million to finance four commercial shipping vessels operated by Greenyield Shipping LLC.Greenyield is managed by Hayfin Capital Management, one of Europe's alternative asset...
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December 29, 2021, 07:20 AM
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CIT Group announced that its Maritime Finance business arranged to provide up to $58 million to refinance four container ships operated by Leonhardt & Blumberg.The financing includes both term loan and delayed draw components. Leonhardt & Blumberg is...
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November 09, 2021, 07:20 AM
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CIT Group Inc. announced its Maritime Finance business is providing $70 million in financing to Maritime Asset Partners for the refinancing of Sterling LLC. Maritime Asset Partners is a specialized finance platform focused on leasing, secured lending...
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November 02, 2021, 07:20 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on $26.5 million in senior secured financing on behalf of Queen Esther Shipping Limited.The loan is secured by the Queen Esther, a modern container ship operated by a...
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October 15, 2021, 07:20 AM
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OnPoint Capital, LLC (OPC) announced the completion of its first marine tanker transaction. OPC advised its client on securing $50 million in senior debt to finance the acquisition of 10 vessels in July. The combination of a strong management team...
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August 27, 2021, 07:19 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $70 million senior secured credit facility for MPC Container Ships, a leading provider in the feeder container ship market segment.MPC Container Ships operates a...
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August 11, 2021, 07:20 AM
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Stonebriar Commercial Finance announced the closing of a $10.2 million term loan with a premier Jones Act marine transportation and logistics services company. The loan represents Stonebriar’s third transaction with the borrower and its affiliates...
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August 09, 2021, 07:18 AM
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CIT Group Inc. announced its Maritime Finance business is providing $42 million in financing for a portfolio of seven dry bulk vessels.Dynamic Bulk Holdings, a dry bulk shipping operator, will use the loan to refinance existing debt on its fleet of...
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June 25, 2021, 07:17 AM
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Global Container International LLC (GCl) announced the successful offering of $253 million fixed rated asset-backed notes secured by marine cargo containers subject to long-term lease. The Series 2021-1 offering consisted of Class A and Class B Notes...
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June 07, 2021, 07:21 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $34.25 million financing for a portfolio of six dry bulk vessels.The financing was arranged on behalf of Globus Maritime Limited, an integrated dry bulk shipping...
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May 13, 2021, 07:11 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $22 million financing for a portfolio of five container ships.The financing was arranged on behalf of Madison Marine Corp., which is partially refinancing debt...
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May 11, 2021, 07:18 AM
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Stonebriar Commercial Finance announced the closing of a $22.5 million sale and leaseback with an industry leading marine transportation and logistics services company. The lease proceeds supported the retirement of other lessee indebtedness....
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March 05, 2021, 07:19 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $45 million financing for a portfolio of seven container ships.The financing was arranged on behalf of a fund managed by Mangrove Partners, a New York City-based...
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February 24, 2021, 07:18 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $56 million senior secured financing on behalf of Seamax Container Shipping II LLC.The loan is secured by four containerships operated by Seamax Shipping, an...
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January 19, 2021, 07:21 AM
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Stonebriar Commercial Finance, an independent large-ticket commercial finance company, announced it has funded YTD and is currently projected to fund through 2021, with more than $355 million secured by Jones Act-compliant marine vessels, including...
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November 24, 2020, 07:05 AM
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CIT Group Inc. announced that its Maritime Finance business served as sole lead arranger on a $70 million senior secured financing on behalf of International Container Company Holdings Limited.The loan is secured by three large container vessels...
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October 02, 2020, 07:17 AM
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CIT Group Inc. announced its Maritime Finance business led the arrangement of $56 million in financing toward the acquisition of two large commercial shipping tankers, which are employed on long-term charters.The financing is part of a transaction...
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January 09, 2020, 07:15 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $40 million senior secured credit facility for MPC Container Ships.MPC Container Ships operates a fleet of 69 vessels. Financing through its secured credit...
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April 29, 2019, 07:20 AM
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Brian Trebels, CEO of Equipment Leasing Group of America, LLC (ELGA), announced details of the company's latest financing plan for yacht and marine vessel owners."The global recreational boat market is expected to be worth approximately $23 (billion)...
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July 05, 2018, 06:55 AM
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Stonebriar Commercial Finance announced the closing of a $10.7 million loan with Griffin Barge Line, LLC. The subject assets securing the loan are four (4) 31,000 barrel heated oil tank barges newly delivered and put into service in 2016. The loan is...
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February 05, 2018, 07:19 AM
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Stonebriar Commercial Finance announced the closing of a $35 million vessel-secured mortgage to a limited recourse special purpose entity majority owned by a leading provider of marine transportation services. The vessel collateral securing the loan...
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November 06, 2017, 07:25 AM
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Key Equipment Finance announced that it has provided $53 million in financing for VanEnkevort Tug & Barge, Inc. (VTB) for the acquisition of the newest tug barge in the Great Lakes through its marine finance group. In addition, the firm’s capital...
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June 30, 2017, 07:17 AM
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PNC Bank, N.A., and its affiliate, PNC Equipment Finance, LLC, completed a $90 million multifaceted financing package for James Marine, Inc., a Kentucky-based provider of marine services serving the U.S. inland waterway industry. The financing pairs...
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September 13, 2016, 07:11 AM
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MarineMax, Inc., the nation’s largest recreational boat and yacht retailer, announced that it has expanded its financing facility to, among other things, provide for borrowings of up to $300 million from the previous limit of $260 million.The...
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June 15, 2016, 07:14 AM
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Stonebriar Commercial Finance announced it has provided a $15 million loan for the purchase of certain marine transportation assets. The loan represents the second made by SCF to a Gulf Coast based supplier of marine transportation solutions to the...
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April 21, 2016, 07:00 AM
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MarineMax, the nation’s largest recreational boat retailer, announced that it has expanded its financing facility to provide for borrowings of up to $260 million from the previous limit of $235 million.The expanded facility has a three-year term...
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November 06, 2015, 06:24 AM
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Stonebriar Commercial Finance announced it has provided a $40 million loan commitment to a Gulf Coast based supplier of marine transportation solutions to the inland and intra-coastal shipping industry. Proceeds of the loan will be used to finance...
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October 27, 2015, 07:13 AM
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Wintrust Commercial Finance (WCF) recently provided a $10.5 million term loan to a dredging services company with operations along U.S. coastal waterways and the major U.S. river systems. The transaction is secured by towboats, barges and dump scows...
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October 22, 2015, 07:06 AM
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CIT Group announced that CIT Maritime Finance provided a $61 million senior secured credit facility to Advantage Tankers, LLC, a Marshall Islands-based holding company established to acquire an operating fleet of crude tankers. The facility supports...
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August 21, 2015, 06:46 AM
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CIT Group announced that CIT Maritime Finance provided a $32 million senior secured credit facility to Norstar Tankers Ltd. to acquire two long range (LR1) product tankers. Financing was provided by CIT Bank, N.A., the principal bank subsidiary of...
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August 14, 2015, 07:04 AM
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Nearly 80 percent of marine industry participants expect sales to increase between five and ten percent this year, according to survey results released today by GE Capital, Commercial Distribution Finance (CDF). That’s up from 54 percent who expected...
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February 26, 2015, 07:00 AM
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Although lingering effects of the slow global economic recovery can still be felt on the maritime industry, the sector continues to slowly improve. Bright spots include the increased demand for maritime transportation of crude oil, so much so that...
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January 15, 2015, 07:00 AM
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CIT Group announced that CIT Maritime Finance provided a $24.1 million senior secured credit facility to Blue Wall Shipping Limited, an investment holding company. The facility supports the purchase of dry bulk carriers in the Handysize and Supramax...
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November 20, 2014, 07:01 AM
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CIT Group announced that CIT Maritime Finance provided $64 million in senior secured credit facilities to Tanker Solutions III, LLC, a joint venture between Prime Tanker Management (Prime) and funds managed by Castlelake, L.P. The facilities support...
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November 04, 2014, 07:00 AM
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CIT Group Inc. announced that CIT Maritime Finance provided a $31.8 million senior secured credit facility to Epic Gas Ltd. to acquire two pressurized liquefied petroleum gas (LPG) tankers on the secondary market. Headquartered in Singapore, Epic Gas...
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October 16, 2014, 06:45 AM
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After a slow start resulting from a harsh winter and cold spring, the recreational marine industry is experiencing accelerated growth, says GE Capital, Commercial Distribution Finance (CDF). Retail and wholesale sales are up versus a year ago in the...
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August 15, 2014, 07:00 AM
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CIT Group Inc. announced that CIT Maritime Finance, with the assistance of RS Platou Finans, completed a $49 million financing through a bareboat charter arrangement with Grieg Shipping II AS, a subsidiary of the Grieg Star Group AS (Grieg Star), the...
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May 22, 2014, 06:00 AM
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Wells Fargo Equipment Finance, through its Energy and Marine and Capital Markets Groups, acting in the capacity of lead arranger, closed a $209 million financing facility for Signet Maritime Corporation (Signet), a global marine transportation...
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May 16, 2014, 06:45 AM
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CIT Group announced that CIT Maritime Finance provided a $95.2 million senior secured credit facility to Heron Ventures, a joint venture between Oceanbulk Shipping and ABY Group Holding. The facility supports the purchase of a fleet of 12 drybulk...
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April 16, 2014, 07:05 AM
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CIT Group announced that CIT Maritime Finance provided a $55 million senior secured credit facility to Tanker Solutions LLC, a joint venture between Prime Tanker Management and Castlelake, L.P. The facility supports the purchase of a fleet of four...
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April 09, 2014, 06:00 AM
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CIT Group announced that CIT Maritime Finance provided a $46.4 million senior secured credit facility to Epic Gas Ltd. (“Epic Gas”). Headquartered in Singapore, Epic Gas owns and operates a fleet of seaborne gas carriers to transport liquefied...
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March 26, 2014, 06:15 AM
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The Marine Retailers Association of the Americas (MRAA) announced that the MRAA Rewards Program and Priority One Financial Services of St. Petersburg, Fla., have expanded their existing relationship to now include financing for marina and boatyard...
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March 24, 2014, 07:00 AM
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More than half (54.7 percent) of marine industry participants expect sales to increase five percent to 10 percent this year, according to survey results released today by GE Capital, Commercial Distribution Finance (CDF). That’s up from the 43...
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March 03, 2014, 06:15 AM
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GE Capital, Corporate Finance announced it provided $22.5 million in equipment financing to Laborde Marine. The funds refinance existing debt used to purchase five new crew boats. Founded in 1995 and headquartered in New Orleans, LA, Laborde Marine...
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November 04, 2013, 06:45 AM
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CIT Group announced that CIT Maritime Finance has entered into a Cooperation Agreement with RS Platou Finans AS that will help CIT Maritime Finance expand into the leasing market. “Through this agreement CIT Maritime Finance will have access to the...
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October 17, 2013, 07:00 AM
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CIT Group announced that CIT Maritime Finance provided a $83.7 million senior secured credit facility to PST Tankers LLC, to finance the acquisition of a fleet of eight product tankers managed by Product Shipping & Trading S.A., a company controlled...
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October 03, 2013, 06:50 AM
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KKR announced the formation of Maritime Finance Company (“Maritime Finance” or the “Company”), a new specialty finance company created to lend to the maritime industry. Led by former Helios Advisors partners Kristan Bodden and Gabriel Tolchinsky...
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August 21, 2013, 06:14 AM
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CIT Group announced that CIT Maritime Finance provided a senior secured credit facility to Tanker Solutions, a joint venture between funds managed by TPG Credit Management and Prime Tanker Management. The financing supports the purchase of the M/T...
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August 15, 2013, 06:41 AM
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CIT Group Inc. announced that CIT Maritime Finance provided a $61.8 million senior secured credit facility to a portfolio company of Alterna Capital Partners, a private equity firm based in Wilton, CT, to finance the acquisition of three 50,000 DWT...
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August 08, 2013, 07:00 AM
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With less competition in the market and a high demand for refinancing, the perfect time to be in the maritime finance business is right now, according to Svein Engh, Group Head and Managing Director of CIT Maritime Finance at CIT Group. These issues...
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May 30, 2013, 07:10 AM
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GE Capital, Corporate Finance announced it provided $16 million in equipment financing to the Dutra Group, Inc. The funds refinance existing debt used to support the company’s marine fleet. Headquartered in San Rafael, CA, the Dutra Group focuses...
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March 13, 2013, 07:10 AM
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CIT Group announced the launch of CIT Maritime Finance, which will originate and underwrite blue water vessel financing. In connection with this announcement, Svein Engh was appointed Managing Director and Group Head of the business and will report...
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November 14, 2012, 07:19 AM
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TCF Inventory Finance, Inc an indirect subsidiary of TCF Financial Corporation announced plans to further expand its floorplan finance offerings into the marine industry within the U.S. and Canada. Established in 2008, TCFIF's executive leadership...
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January 13, 2012, 06:30 AM
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