CIT Launches Maritime Finance Business

Transportation finance company CIT Group today launched CIT Maritime Finance, which will originate and underwrite blue water vessel financing.

Svein Engh

Svein Engh, the former CEO of Octavian Maritime Holdings, was subsequently appointed managing director and group head of the business. He will report to C. Jeffrey Knittel, president of CIT Transportation Finance.

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, offshore vessels and drilling rigs.