Cargill to Build Grain Terminal in West Memphis

Posted by Eric Haun
Thursday, July 10, 2014

U.S. agribusiness Cargill Inc said it will build a grain handling facility in West Memphis, Arkansas, to purchase corn, sorghum, soybeans and wheat that the company could ship down the Mississippi River to U.S. Gulf Coast export terminals.

Minneapolis-based Cargill, one of the world's largest private companies, said on Thursday it will invest $45 million in the terminal in West Memphis, located on the western bank of the Mississippi. The river is the main shipping route to the Gulf, where about 60 percent of all U.S. corn, soybeans and wheat exports exit the country.

When completed, the elevator will be capable of loading up to eight barges daily and of holding up to five barges, Cargill said in a release that did not provide a timeline for the project. Competitors Bunge Ltd and CHS Inc also have facilities in West Memphis while Archer Daniels Midland Co has an elevator on the other side of the river in Memphis, Tennessee.

"The West Memphis location will be easy to reach with large semi-loads of grain, and will have excellent access for loading barges, during both high and low river levels," said Fred Oelschlaeger, regional manager for Cargill's southern river region.

The facility will complement Cargill's elevator just north of that location in Hales Point, Tennessee, where a $25 million modernization project that tripled the grain handling capacity was completed in 2012, the company said.

(Reporting by Michael Hirtzer in Chicago; Editing by Phil Berlowitz)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

Navy Awards Austal $691M for Two Littoral Combat Ships

The U.S. Navy has ordered two new littoral combat ships from Austal, the shipbuilder said in a press release today. The two orders, worth $691 million, are part

Bulk Carrier Trends

Bulk Carrier Runs Aground in Delaware River (Link to Video)

Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.

ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

News

Bulk Carrier Runs Aground in Delaware River (Link to Video)

Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.

Largest All-Electric Pipe Bender Starts Operations at Newport News Shipbuilding

Unison has commissioned what is believed to be the largest all-electric tube bending machine ever produced. The machine has started operations at Newport News Shipbuilding,

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

Barges

BMT Comments on Recent Barge Casualties

Recently, BMT was consulted in a number of cases/casualties involving the breaking and subsequent salvage of inland navigation barges. The incidents all occurred during loading operations.

U.S. Oil Train Traffic mostly from Midwest to East Coast

U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Intermodal

U.S. Port Delay Boost February Air Freight

Global air freight volumes rose 11.7 percent year-on-year in February, driven by the Chinese New Year, the International Air Transport Association said on Wednesday.

Largest Vessel to Call ICTSI, Rijeka

Adriatic Gate Container Terminal (AGCT), International Container Terminal Services, Inc.’s (ICTSI) container handling facility in the Port of Rijeka, Croatia, recently

MOL President Reports Slack Performance

MOL President, President, Koichi Muto reported that the performance of the company was slack.   Muto reported, "I am sad to report that our business performance fell short,

Logistics

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

Hapag-Lloyd Improves Safety of Dangerous Goods Transportation

Last year, Hapag-Lloyd discovered 2,620 cases of incorrectly declared dangerous goods that were prevented from being shipped. Dangerous goods experts at Hapag-Lloyd investigated over 162,

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1630 sec (6 req/sec)