CIT’s maritime finance business, a division of First Citizens Bank, 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 financing to the client to $52.25 million, which is secured by seven dry-bulk shipping vessels.

“We appreciated CIT’s expertise and agility in arranging this expanded financing to support the growth of our dry-bulk shipping portfolio,” Athanasios Feidakis, president and CEO of Globus Maritime, said.

“Globus Maritime is a top-level shipping operator known throughout the industry,” Evan Cohen, managing director and group head for CIT’s maritime finance business, said. “We’re pleased by this opportunity to increase their financing and continue our support for their operations.”