CIT’s Maritime Finance business provided $80 million to refinance two Korean-built container ships operated by Seamax. A division of First Citizens Bank, CIT offers customized solutions for secured loans to a global client base of vessel owners and operators.

“As the container ship 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,” Ron Petrunoff, managing partner at Seamax, said.

“Seamax is well-known in the shipping industry for their expertise in operating and managing container ships and other transportation assets,” Evan Cohen, managing director and group head for Maritime Finance business at CIT, said. “We’re pleased to work with them again to arrange financing to support their business goals.”