CIT Increases Maritime Financing to $57 Million for Crowley

CIT, a division of First Citizens Bank, announced that its Maritime Finance business has recently increased its financing of shipping and logistics company Crowley to a total of $57 million as part of a larger credit facility. This financing applies to multiple Crowley vessels.  

"Crowley has a heritage of reliable shipping of more than 130 years, and this financing will help continue that safe and reliable service with a focus on innovation," said Vice President and Treasurer Steve Himes of Crowley. "We appreciated CIT's willingness to increase its financing for our vessels."

"Crowley is widely respected throughout the maritime industry for its expertise and performance," said Evan Cohen, managing director and group head of Maritime Finance. "We were pleased to extend our financing arrangements with Crowley and look forward to continuing our relationship in the future."