Amanda K. Brown has joined the Seward & Kissel's New York office as special counsel in the Maritime and Transportation Group.“Amanda has a wealth of experience and a rich understanding of maritime and transportation law, especially as it relates to...
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October 13, 2023, 07:00 AM
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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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MarineMax, the world’s largest recreational boat, yacht, and superyacht services company, announced the expansion of its floor plan facility from $750 million to $950 million, further increasing the Company’s liquidity and financial flexibility for...
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July 17, 2023, 07:15 AM
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RecNation Storage, a leading owner, operator and developer of specialized recreational vehicle and marine storage facilities, amended and upsized its revolving credit facility to borrow up to $500 million assuming certain conditions are met. The...
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May 31, 2023, 07:00 AM
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Accord Financial Corp. announced the closing of a $2.5 million credit facility to help a marine services company move into the wind energy space. Accord’s Asset Based Lending Group structured the facility to include a traditional revolving credit...
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April 21, 2023, 07:10 AM
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ECN Capital Corp. announced it has initiated a review of strategic alternatives to maximize shareholder value.In response to interest that has been received by the company, ECN will evaluate the full range of alternatives to determine the best path...
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March 08, 2023, 07:05 AM
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Key Equipment Finance, a division of KeyBank and one of the largest bank-owned equipment finance providers in the United States, promoted Tim Stickney to Vice President - National Marine Specialist. In this role, Stickney is responsible for...
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July 26, 2022, 07:20 AM
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Colony Bank announced the addition of Steven Bernaski as President of Marine and RV Lending, Senior Vice President. In this new role, Bernaski will utilize his extensive experience and network to provide specialized marine and recreational vehicle...
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June 08, 2022, 07:13 AM
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CenterGate Capital, an Austin, TX-based private equity investment firm, announced its affiliate has made an investment in RC Rasmussen Corporation, a specialized equipment solutions provider supporting critical marine infrastructure throughout North...
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June 07, 2022, 07:05 AM
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BankNewport announced that Jeanne Lapak joined the bank’s executive team as Executive Vice President, Chief Commercial Banking and Lending Officer, responsible for leading the Commercial and Business Banking Teams.With over 20 years of banking...
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April 11, 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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Mitsubishi HC Capital Inc. (the Company) announced the company completed the acquisition of San Francisco, CA-based CAI International, Inc. CAI is now a wholly owned subsidiary of the Company. The acquisition had been announced on June 18.
Under the...
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November 24, 2021, 07:23 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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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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Encina Equipment Finance (EEF) announced today that it has provided a $5 million equipment loan to a marine transportation company. The equipment loan is being used to finance in-place equipment.EEF was represented by Reed Smith LLP.Launched in June...
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January 06, 2021, 07:15 AM
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DLL will expand its offerings into the recreation and leisure lifestyle market in North America. This will include motorsport, marine, recreational vehicles and manufactured homes. DLL will provide floor planning lines of credit for...
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October 30, 2019, 07:30 AM
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Encina Equipment Finance announced it has provided a $5 million lease facility to a marine services company. The facility is being used to refinance an existing lease contract.Launched in June 2017, Encina Equipment Finance provides loans and leases...
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March 08, 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 SCFET 2018-1, a $578 million asset-backed securitization transaction. It marks the fourth equipment securitization transaction Stonebriar has closed in the last 24 months and its first to secure...
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June 01, 2018, 07:30 AM
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Jeffrey Gannon and Adrian Dunner, in partnership with investment vehicles managed by Wafra Inc., announced the formation of Global Container International LLC, a new marine container leasing platform with headquarters in Boston and with...
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April 27, 2018, 07:25 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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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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The American Society of Appraisers announces its Marine Survey course to be held on Thursday, October 27-Saturday, October 29, 2016 in Norfolk, VA.This course is designed for the nonmarine professional who wants basic knowledge of the industry and...
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June 06, 2016, 07:00 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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Stonebriar Commercial Finance ("SCF") announced that Jeff Griffin has joined the company as Vice President and Director of Rail Leasing, initiating SCF's origination efforts in the rail sector. Griffin joins SCF after spending the last 8 years with...
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March 07, 2016, 07:11 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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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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Commercial Distribution Finance (CDF), a division of GE Capital, announced that its joint inventory-financing venture with Brunswick Corporation, Brunswick Acceptance Company (BAC), has been extended through 2019.BAC provides boat dealers with a...
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August 07, 2015, 07:00 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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Bloomberg reported that liquefied natural gas will gain a “significant” market share in the transport sector by 2035, according to the International Center for Natural Gas Information.According to the Bloomberg report, demand from road transport...
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September 29, 2014, 06:00 AM
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GE Capital, Commercial Distribution Finance (CDF) announced it has significantly expanded its inventory financing program with MarineMax, the nation’s largest boat dealer, and extended its duration through 2017. The $235 million facility will allow...
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September 18, 2014, 06:31 AM
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GE Capital’s Commercial Distribution Finance (CDF) business sees positive trends in the Canadian motorsports and recreational vehicle (RV) industries through the first half of the year, while the marine industry is experiencing a slight slowdown...
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September 02, 2014, 06:57 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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Signature Bank announced that its specialty finance subsidiary, Signature Financial LLC, will begin offering direct finance services for both the franchise and commercial marine industries on a national basis. Signature Financial’s franchise business...
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July 11, 2014, 07:00 AM
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GE Capital's Commercial Distribution Finance (CDF) business announced it has extended its strategic floorplan financing agreement with Independent Boat Builders, Inc. (IBBI), a major boat manufacturer buying group, in the U.S. and Canada. The program...
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June 03, 2014, 05:30 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 $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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AIG Commercial Asset Finance (AIGCAF) and its affiliates have provided a $400 million loan for vessels owned and operated by Nautical Solutions, LLC, which is an operating unit of Edison Chouest Offshore (Chouest). Proceeds from the loan were used...
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November 19, 2013, 06:58 AM
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Marine manufacturers and dealers are upbeat about their industry as the U.S. selling season comes to a close, according to GE Capital's Commercial Distribution Finance (CDF) business.The positive sentiment is expected to be reflected in the mood at...
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November 15, 2013, 07:30 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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Key Equipment Finance has promoted Ronnie Evans to director of commercial marine finance. In this role, Evans will be based out of South Louisiana, and will be responsible for the growth and management of Key Equipment Finance’s growing marine...
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October 22, 2013, 07:00 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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GE Capital’s Commercial Distribution Finance (CDF) business said it has seen positive trends in the Canadian marine, motorsports and recreational vehicle (RV) industries through the first half of the year. It expects favorable conditions to continue...
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August 13, 2013, 06:50 AM
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AIG Commercial Asset Finance (AIGCAF) and its affiliates announced that they have provided a $65 million senior secured term loan to Saltchuk Resources, Inc. (Saltchuk), a Seattle-based family of diversified transportation and petroleum distribution...
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July 01, 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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GE Capital's Commercial Distribution Finance (CDF) business announced today it has signed an enhanced strategic floorplan financing agreement with Independent Boat Builders, Inc. (IBBI), a major U.S. boat manufacturer buying group. The program covers...
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January 09, 2013, 07:16 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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