ADM acquires five oceangoing commodity vessels
October 16, 2009
by Eric Schroeder
DECATUR, ILL. — Archer Daniels Midland Co. has acquired five oceangoing dry-bulk commodity vessels to transport grain, grain products and bulk commodities to and from ports in Europe, South America, Asia and other parts of the world.
The five vessels range in length from 587 feet to 738 feet and provide cargo-carrying capacity between 36,000 tons and 67,000 tons, according to ADM.
"These five carriers compliment 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."
Once in operation, the five vessels will add to ADM’s transportation network that already includes 1,700 barges, 58 tow boats, 29 line boats, 23,500 railcars and 1,600 trailers.