CIT, a division of First Citizens Bank, announced that 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 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," said Athanasios Feidakis, president and chief executive officer at Globus Maritime.

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

Maritime Finance, part of CIT's Commercial Finance division, offers customized solutions for secured loans to a global client base of vessel owners and operators.