CIT, a division of First Citizens Bank, announced its Maritime Finance business provided $80 million to refinance two Korean-built container ships operated by Seamax.

"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," said Ron Petrunoff, Managing Partner at Seamax.

"Seamax is well-known in the shipping industry for their expertise in operating and managing container ships and other transportation assets," said Evan Cohen, Managing Director and Group Head for CIT's Maritime Finance business. "We're pleased to work with them again to arrange financing to support their business goals."

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