New York-based CIT Bank has clinched yet another ship financing, extending a $42m loan to a private equity-backed shipowner with ties to Greek player Technomar Shipping.
CIT said it is bankrolling the seven-unit handymax portfolio of Dynamic Bulk Holdings, which is managed by George Youroukos-controlled Technomar and backed financially by Texas-based Lone Star Funds, a private equity firm.
“Demand for commodities transport increases constantly as the global economy recovers from the impact of the Covid-19 pandemic,” said Tassos Psaropoulos of Dynamic Bulk Holdings....
