Grain company ADM aacquires five bulk ships
Grain industry firm Archer Daniels Midland acquired five oceangoing dry-bulk ships of varying sizes to haul “all types of grain, grain products and bulk commodities to and from ports in Europe, South America, Asia and other parts of the world,” the company said.
ADM said the five carriers comprise one Handy-sized vessel and one Handymax – both with self-unloading gear, a Supermax and two Panamax vessels. Their carrying capacity ranges between 36,000 tons and 67,000 tons. These are the first dry bulk oceangoing vessels ADM has purchased. The company will continue to contract with other shipping lines. ADM did not disclose the price of the vessels.
“These five carriers complement ADM’s global transportation network and allow us to ship grain throughout the world with more flexibility and lower cost than outside carriers,” said Royce Wilken, an officer of ADM Transportation. “As we continue to expand our continental transportation networks around the world, connecting these regions on a global scale aligns with our strategy to expand the geographic scope of our business.”
The company did not say when the ships would begin operations as an ADM fleet. But once that happens, it said, “the five dry-bulk carriers will augment ADM’s transportation network, which also includes 1,700 barges, 58 towboats, 29 line boats, 23,500 railcars and 1,600 trailers.”
“In addition to providing us greater control of the supply chain, these vessels will improve operating margins and help to position us ahead of our competitors with regards to net delivery cost. The productivity gains these vessels bring to ADM will also help ensure that our just-in-time delivery capabilities are among the best in the industry,” Wilken said.
ADM said the five carriers comprise one Handy-sized vessel and one Handymax – both with self-unloading gear, a Supermax and two Panamax vessels. Their carrying capacity ranges between 36,000 tons and 67,000 tons. These are the first dry bulk oceangoing vessels ADM has purchased. The company will continue to contract with other shipping lines. ADM did not disclose the price of the vessels.
“These five carriers complement ADM’s global transportation network and allow us to ship grain throughout the world with more flexibility and lower cost than outside carriers,” said Royce Wilken, an officer of ADM Transportation. “As we continue to expand our continental transportation networks around the world, connecting these regions on a global scale aligns with our strategy to expand the geographic scope of our business.”
The company did not say when the ships would begin operations as an ADM fleet. But once that happens, it said, “the five dry-bulk carriers will augment ADM’s transportation network, which also includes 1,700 barges, 58 towboats, 29 line boats, 23,500 railcars and 1,600 trailers.”
“In addition to providing us greater control of the supply chain, these vessels will improve operating margins and help to position us ahead of our competitors with regards to net delivery cost. The productivity gains these vessels bring to ADM will also help ensure that our just-in-time delivery capabilities are among the best in the industry,” Wilken said.