ADM Orders Three New Oceangoing Vessels
October 13 2011 - 3:00PM
Business Wire
Archer Daniels Midland Company (NYSE: ADM) today announced that
it has placed an order with Japan’s Sumitomo Corporation for the
construction of three new post-Panamax dry-bulk oceangoing vessels,
which will increase the size of ADM’s oceangoing fleet to 11
vessels. The post-Panamax dry-bulk carriers will have a deadweight
of approximately 95,000 metric tons each.
“Adding three new oceangoing vessels to our global
transportation network supports our strategy to increase the volume
of crops we handle and expand the geographic footprint of our
operations worldwide,” said Royce Wilken, an officer of ADM
Transportation. “It also provides greater flexibility and control
of our supply chain while improving our transportation
margins.”
To support the increasingly global nature of its business, ADM
owns and operates an expansive global transportation network, which
currently includes 700 trucks, 1,500 trailers, 26,100 railcars,
1,700 barges, 58 tug boats, 29 line boats and eight oceangoing
vessels, that moves crops from local elevators to processing plants
and customers around the world. ADM’s fleet of oceangoing
vessels—ranging in size from Handy and Handymax to Supramax and
Panamax—serves as the backbone of ADM’s grain transportation
program.
ADM’s three new oceangoing vessels will be built with technology
that offers high performance while decreasing energy consumption to
offer the best available environmental footprint for shipping large
quantities of bulk commodities overseas.
Oshima Shipbuilding Company Ltd., a Japanese shipbuilding
company specializing in dry bulk carriers, has been selected to
build the ships. ClassNK, a Tokyo-based ship classification
society, has provided project advisory assistance and has been
selected as the classification society. Mitsubishi Heavy
Industries, Ltd. will provide green technology to help the vessels
achieve approximately a 25 percent reduction in carbon dioxide
emissions through superior hull form, propulsion systems and the
Mitsubishi Air Lubrication System (MALS) innovative technology
which reduces frictional resistance between the vessel hull and
seawater using air bubbles along the bottom of the vessels. Fleet
Management Ltd. of Hong Kong has provided project management.
About Post-Panamax Vessels
A major project is currently underway to double the capacity of
the Panama Canal by 2014 to allow more and larger ships to transit.
The project will widen the Canal and create a new lane of traffic
by constructing a new set of locks. Post-Panamax vessels are sized
appropriately to pass through these new locks.
About ADM
Every day, the 30,000 people of Archer Daniels Midland Company
(NYSE: ADM) turn crops into renewable products that meet the
demands of a growing world. At more than 265 processing plants, we
convert corn, oilseeds, wheat and cocoa into products for food,
animal feed, chemical and energy uses. We operate the world’s
premier crop origination and transportation network, connecting
crops and markets in more than 75 countries. Our global
headquarters is in Decatur, Illinois, and our net sales for the
fiscal year ended June 30, 2011, were $81 billion. For more
information about our company and our products, visit
www.adm.com.
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