CIT’s maritime finance business increased its financing for Polska Zegluga Morska Capital Group (Polsteam Group) by $10 million through a secondary purchase.

CIT’s loan expands its relationship with Polsteam Group and increases CIT’s total financing commitment to the client by about 50%. The overall financing is secured by 26 dry-bulk carriers.

“Polsteam Group is an experienced and trusted cargo shipping enterprise with a bright future,” Evan Cohen, managing director and group head for CIT’s maritime finance business, said. “We appreciated the opportunity to extend our financing and look forward to working together in the future as the business continues to grow.”