ADM Orders Three New Oceangoing Vessels

Archer Daniels Midland Company

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.