CIT Maritime Finance provided a $40 million senior secured credit facility to Valløby Shipping to acquire a fleet of chemical tankers.

“This was an excellent opportunity to form a relationship with Valløby and its experienced management team while financing a high-quality chemical tanker fleet,” said Omer Donnerstein, director of CIT Maritime Finance. We look forward to working with Valløby as they continue to grow their fleet.”

Valløby is a newly established ship-owner backed by a private equity fund. Financing was provided by CIT Bank. Terms of the transaction were not disclosed.

“The entrance of Valløby into the chemical tanker market is well-timed,” said Egemen Duzgoren, vice president of CIT Maritime Finance. “Supported by a strong financial foundation, Valløby will quickly become a strategic tonnage provider in the chemical tanker segment.”