CIT Group launched CIT Maritime Finance to originate and underwrite blue water vessel financing, it said. Svein Engh was appointed managing director and group head of the business. 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, as well as offshore vessels and drilling rigs, it said.

The U.S. Association of Importers of Textiles and Apparel postponed its annual conference in New York that was scheduled for Nov. 14. The conference is now scheduled for Jan. 9 in the same location, Bridgewaters South Street Seaport.

Eagle Bulk Shipping lost $29.8 million for the third quarter ended Sept. 30, compared to net loss of $5.9 million for the same quarter in 2011. Revenue fell to $46.9 million, from $80.3 million for the 2011 quarter. Chairman Sophocles Zoullas said: "The dry bulk market remains in a cyclical trough characterized by supply growth and an inconsistent demand profile. While this environment continues to weigh on our financial results, Eagle Bulk's young and agile fleet of Supramax vessels and dynamic chartering strategy should enhance our competitiveness when the market improves."

Alliance Grain Traders Inc. third-quarter revenue grew to $210 million, from $190.3 million for Q3 2011, it said. Adjusted net earnings were $4 million, compared to $10.5 million for Q3 2011, it said. It cited improvement of $140.2 million in cash flow for the nine months ended Sept. 30.

Expeditors International of Washington had net earnings of $88.5 million for the third quarter of 2012, down from $106.6 million a year ago. Net revenue decreased 6% to $465.1 million. For the nine months ended Sept. 30, net earnings were $249.2 million, compared to $292.8 million for the same period in 2011, and net revenue for the nine months decreased to $1.37 billion from $1.42 billion. Chairman Peter Rose said: “During our 30+ year operating history, we have never had the kinds of convergence of industry challenges, in both our customers and service providers' industries, than we have experienced this year. Financially struggling air and ocean carriers, airfreight markets adapting to smaller, lighter, more powerful smart phones and mobile tablets versus heavier PCs, lackluster consumer and business demand and global economic uncertainty have all combined to create a very uniquely challenging business environment.”

Transplace said Essex Group successfully implemented Transplace's Transportation Management System for optimizing and managing North American inbound shipments. It said the new product allows Essex Group to improve carrier selection and communication, and drive cost savings. Essex Group, a North American manufacturer of wire and cable products and accessories, has been a customer of Transplace Mexico since 2010, and expanded its use of the TMS into the U.S. and Canada, it said.

C.H. Robinson Worldwide said it finalized its acquisition of Phoenix International for $571.5 million in cash and about $63.5 million in newly-issued C.H. Robinson common stock. Robinson announced the deal in September (See ITT's Online Archives 12092520 for summary of the deal).

Textainer Group Holdings said net income for the third quarter ended Sept. 30 grew 10.6% to $50.7 million, and revenue was up 11.7% to $122.3 million. It said utilization of its containers continued at "very high levels," averaging 97.9% during the third quarter, and it invested a record of more than $1 billion in new and used containers year to date, including more than $155 million of purchases from its managed fleet in the third quarter.

SeaCube Container Leasing said third quarter adjusted net income increased 15% year-over-year to $12.8 million, and revenue grew 9% to $49.5 million. Average utilization was 97.9% for the third quarter, and it committed to buy about $318.8 million in equipment for delivery through January 2013.

Roadrunner Transportation Systems said it bought Central Cal Transportation for about $4 million plus an earnout. Roadrunner CEO Mark DiBlasi said the deal "substantially enhances the scale and critical mass of our drayage operations in the West Coast region." During calendar year 2011, Central Cal generated about $19 million revenue.