GE Capital Solutions Acquires CitiCapital’s Marine Finance Division

Thursday, January 04, 2007
GE Capital Solutions said it has acquired CitiCapital's Marine Finance division, an Irving, Texas unit of Citigroup. CitiCapital Marine finances and leases commercial workboats and passenger vessels in U.S. and Canadian waters and the Gulf of Mexico. The acquisition, which closed last week, will add approximately $250 million in assets to GE Capital Solutions’ marine portfolio. Terms of the agreement were not disclosed.

Joseph Pitch, senior vice president, CitiCapital Marine Finance, will join GE as part of the Marine industry team. GE Capital Solutions finances such vessels as tugs and barges, car and passenger ferries, pilot boats, offshore supply vessels/anchor handlers and dredges and derrick cranes.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Light at the End of the Tunnel Distant for Multipurpose Shipping

The demand outlook for the multipurpose fleet has not improved since the first quarter of 2016. The breakbulk and project cargo sector remain weak, with little

Star Bulk Carriers Reports 1Q Loss, Adds 3 Vessels.

The Athens, Greece-based Star Bulk Carriers Corp. (SBLK) has reported a loss of $48.8 million in its first quarter. The shipping company posted revenue of $46.

Jinhui Sells Supramax

Jinhui Shipping and Transportation has agreed to sell another supramax dry bulk carrier, having just made a similar deal earlier this month.   The purchaser is a company incorporated in Hong Kong.

Environmental

Port Everglades, EPA to Study Air Emissions

Port Everglades has signed a partnership agreement with the U.S. Environmental Protection Agency (EPA) to study air emissions.   The EPA's Office of Transportation

Lloyd's Register Extends Drilling Rig Integrity Support

Exploration begins by BHP Billiton using the Deepwater Invictus rig and supported by Lloyd’s Register’s rig integrity team. Lloyd’s Register (LR) announced it

Groningen Seaports First in Line for Damen InvaSave

The first production version of Damen’s InvaSave ballast water treatment system – intended for use at Groningen Seaports – will be on display at the upcoming ‘DelfSail’

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0729 sec (14 req/sec)