First Citizens Bank has won another bilateral loan with a New York-listed container ship company but apparently lost out on a bigger prize.
Even as First Citizens’ Manhattan-based maritime finance business revealed the $22m financing with Greek owner Euroseas, shipping chief Evan Cohen was appearing on a lenders panel at Marine Money Week in New York.
It was there that he revealed First Citizens had made a play for Dutch lender NIBC’s $992m shipping loan portfolio, which ended up going to Hamburg Commercial Bank (HCOB) instead.
