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

People & Company News

Chiarello: TOTE Continues Support to El Faro Families

Anthony Chiarello, President & CEO of TOTE, owner of the cargo ship presumed to have sunk with 33 mariners aboard last week amid Hurricane Joaquin, issued a statement

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Singapore Delegation Visits ACE Winches

ACE Winches hosted a delegation from SPRING Singapore to its Towie Barclay Works facility for a visit to share an overview of its products and services, including


Chiarello: TOTE Continues Support to El Faro Families

Anthony Chiarello, President & CEO of TOTE, owner of the cargo ship presumed to have sunk with 33 mariners aboard last week amid Hurricane Joaquin, issued a statement

White House Backs El Faro Investigation

President Barack Obama on Wednesday offered condolences to the families of the 33 sailors presumed to have lost their lives aboard cargo ship El Faro which is believed

Urals Weakens Further in Baltic

Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay.


HMS Announces Management Hires

Marine services company Harley Marine Services (HMS) has expanded its management team, naming Don Martin as Vice President and General Counsel and Steve Carlson as Vice President of Engineering,

Becker Marine, Kotug Sign MOU for LNG Hybrid Barge

Press release - Becker Marine Systems and KOTUG signed a Memorandum of Understanding to launch a LNG Hybrid Barge in the Port of Rotterdam with effect from June 2017.

AEP to Sell AEP River Ops To ACL

American Electric Power (AEP) has signed an agreement to sell its commercial barge transportation subsidiary, AEP River Operations LLC, to American Commercial Lines (ACL),


New Orleans Port to Host Maritime Workforce Summit

The Port of New Orleans is set to host the 2nd Annual Maritime Workforce Summit and Career Expo presented by WWL-TV’s ‘We Choose Louisiana.”   Designed to

India's Paradip Port Mechanization Project Approved

The Cabinet Committee on Economic Affairs (CCEA), Government of India, chaired by the Prime Minister Narendra Modi, has given its approval to the project of

Advent Intermodal Delivers eModal Wharfage Module for NSW Ports

NSW Ports has successfully deployed Advent’s eModal wharfage module for Port Botany in Sydney and Port Kembla in Wollongong, says Advent Intermodal Solutions,


Ukraine Sees Smaller Maize Exports to China

Ukrainian maize exports to China under a $1.5 billion loan-for-grains deal could be significantly below an expected 2 million tonnes this year, as Beijing appears to want less of the commodity,

Box Shipping Eyes More Overcapacity, Financial Pain

Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain,

Former Shipping Execs Indicted on Price-fixing

Three former executives of ocean freight shipping firms have been indicted for participating in a long-running price-fixing conspiracy, the U.S. Justice Department announced.

Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.2083 sec (5 req/sec)