CIT Launch Maritime Finance Business, Appoint MD

Press Release
Wednesday, November 14, 2012
Mr. Svein Engh: Photo credit CIT

The new company, CIT Maritime Finance will originate & underwrite blue water vessel financing & its managing director is Svein Engh.

CIT Maritime Finance will offer senior secured loans, sale-leasebacks, and bareboat charters to owners and operators of oceangoing cargo vessels including tankers, bulkers, container ships, car carriers, as well as offshore vessels and drilling rigs. It will offer financing solutions that will help add value and drive business for customers.

“The launch of CIT Maritime Finance demonstrates our efforts to increase the financing options offered through CIT Transportation Finance,” said C. Jeffrey Knittel, President of CIT Transportation Finance. “There is strong demand for financing in the global marine sector and the deep industry relationships and expertise of our new team, led by Svein, will enable us to capitalize on these opportunities.”

Prior to his appointment, Svein Engh served as Chief Executive Officer of Octavian Maritime Holdings, Inc., where he built a new shipping company with sponsorship from Octavian Advisors, LP, a New York-based investment fund. Before joining Octavian, he was Managing Director, BNP Paribas Fortis where he was responsible for building the maritime portfolio in the North American market. He has also held executive positions with Christiania Bank in New York, Singapore, and Oslo. Engh earned a BBA and MBA from Ohio University.
 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

West Coast Port Talks Clear Hurdle

Shipping companies and the union for 20,000 dockworkers at nearly 30 U.S. West Coast ports have cleared a major hurdle in their protracted labor talks, clinching

ClassNK Releases Improved "e-Application"

ClassNK announced the release of an improved "e-Application" system. This improvement was planned based on requests from the users. Therefore, firstly we would

Wärtsilä Propulsion Solution for 3 Tugs

Three large new escort tugs contracted by Norwegian operator Østensjø Rederi, will feature Wärtsilä dual-fuel (DF) engines integrated with a customized gas storage

Finance

West Coast Port Talks Clear Hurdle

Shipping companies and the union for 20,000 dockworkers at nearly 30 U.S. West Coast ports have cleared a major hurdle in their protracted labor talks, clinching

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less

Greek Shipping Fears Syriza Tax Plan

Will the new government in Greece led by radical-left party Syriza levy higher taxes that the shipping industry can’t afford? A report in WSJ says that several

People in the News

West Coast Port Talks Clear Hurdle

Shipping companies and the union for 20,000 dockworkers at nearly 30 U.S. West Coast ports have cleared a major hurdle in their protracted labor talks, clinching

Russia – Turkey Gas Pipeline Approved

Ankara hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Turkish Minister of Energy and Natural Resources.

Santa Lucia Back Underway in Delaware Bay

The motor vessel Santa Lucia, which was aground in Delaware Bay, got back underway under its own power at approximately 3 p.m. Tuesday. The Santa Lucia is

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2271 sec (4 req/sec)