First Citizens Bank’s maritime finance business provided a senior secured loan of $22 million to Euroseas for the financing for a newbuild 2,800 TEU Eco containership.
“Demand for cargo transport is growing and we are expanding our fleet to serve that market growth by investing in top quality ships that considerably reduce our carbon footprint, showing our commitment to decarbonize our industry while serving the interest of our shareholders in the most accretive way,” Symeon M. Pariaros, chief administrative officer of Euroseas, said. “We appreciated the expertise and agility of the First Citizens maritime team in arranging the financing for this latest addition to our fleet.”
“Euroseas has a strong and growing reputation as a world-class owner and operator of high-quality container vessels,” Evan Cohen, managing director and group head of Maritime Finance at First Citizens Bank, said. “We look forward to continuing to support Euroseas as they pursue their business objectives.”
