Mississippi River Reopens to Barges after Gustav
The entire Mississippi River, the most important commercial waterway, has reopened to barge traffic after being closed near due to Hurricane Gustav, the Coast Guard said. More than 300 miles of the commercial waterway, stretching from to the , was closed following the landfall of the Category 2 hurricane on Monday. Reports said major grain companies such as Cargill Inc, Archer Daniels Midland Co and Bunge Ltd are still awaiting electricity to be restored to their grain export terminals on the lower Mississippi River in .
ADM Buys 5 Ships to Network
According to an Oct. 15 report from the Associated Press, Agribusiness leader Archer Daniels Midland Co. said it has acquired five cargo ships to help it transport grain worldwide with greater flexibility and at lower cost than outside carriers. (Source: Associated Press)
First Grain Shipload Leaves ADM Brazil Port
The first loaded vessel has departed Archer Daniels Midland Company’s (ADM) new export terminal in Barcarena, in the northern Brazilian state of Pará. ADM explains that the terminal is a significant addition to ADM’s expanding logistical network in Brazil, and offers an efficient pathway for the export of grain from the increasingly productive western and northern regions of the country. ADM received approval to begin operations at the terminal at the end of July 2014. “We are pleased to see operations underway at our new terminal in Barcarena…
AWO Elects New Chairman, Vice Chairman
The members of the American Waterways Operators (AWO), the national trade association for the American tugboat, towboat and barge industry, elected Mr. Royce C. Wilken as Chairman and Mr. H. Merritt Lane as Vice Chairman on Friday, April 20 during the AWO Spring Convention in Washington. Mr. Wilken is President of American River Transportation Co. (ARTCO), headquartered in Decatur, IL, and served as vice chairman for the past year. Mr. Lane is President and Chief Executive Officer of Canal Barge Company, Inc., headquartered in New Orleans, LA. Wilken, in his remarks to the AWO Board of Directors following his election as chairman, explained his priorities for the coming year.
New Barge Fleeting and Switching Operation in Cairo Harbor
American River Transportation Company (ARTCO), a subsidiary of Archer Daniels Midland Company (ADM), today announced plans to launch new barge fleeting and switching operations in the Cairo, Illinois, harbor starting January 1, 2016. The Cairo harbor is a vital hub in the inland waterway supply chain. The new operation will be based in Wickliffe, Kentucky, and will provide fleeting and switching operations from mile 948 on the Lower Mississippi River to mile 29 on the Upper Mississippi and mile 974 on the Ohio River. “ARTCO is the only company in the inland waterway system that can provide a self-contained supply chain to our customers, which allows us to provide better, more efficient and cost-effective service,” said Jason Porter, vice president, ARTCO operations.
U.S. Food Could Be Headed To Cuba
Reuters reported that, for the first time in nearly four decades, a shipment of food from the U.S. could be headed to Cuba. According to the report, Archer Daniels Midland Co. - pending final U.S. Administrative approval - awaits to transport the corn, having already received approval to sell it, the New York-based U.S.-Cuba Trade and Economic Council reported. The shipment is said to consist of 24,000 metric tons of corn from seven states. Last fall, the U.S. enacted legislation that eased some restrictions to allow cash sales of food and medicine to Cuba. A Singapore-registered and Mexican-owned bulk carrier M.V. Ikan Mazatlan is said to be the ship selected to carry the first U.S. shipment
Cargill to Build Grain Terminal in West Memphis
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.
Blocked Entrance to Santos Port to Open Overnight
Trucks will be able to access a blocked entrance at Santos, Brazil's largest port, at night while firefighters finish extinguishing a blaze at a nearby fuel-storage facility, city and port authorities said. The more flexible rules will provide some relief for grain exports that have slowed since Monday, when authorities restricted truck access to terminals on one side of the port while flames are extinguished. The firefighters' office in Sao Paulo state said via Twitter that one of six fuel tanks at the facility operated by Ultracargo, a unit of Brazilian chemical and fuel-distribution company Grupo Ultra, was still on fire. Highway police are escorting truck convoys past the blocked entrances, and 750 passed through in a convey on Tuesday.
ADM Joint Venture Acquires Brazilian Shipping Agency
Archer Daniels Midland Company (ADM) and Norton Lilly International announced that their steamship agency joint venture, Agri Port Services LLC, has acquired Brazilian port and shipping agency Blue Ocean Agencia Maritima Ltda. ADM was previously a part owner in Blue Ocean. Blue Ocean services oceangoing vessels at ports throughout Brazil and maintains offices in the strategic ports of Santos and Paranagua. The company serves as a shipping agent for both inbound and outbound vessels, coordinating vessel clearance, loading/discharging operations, vessel logistics and support, vessel resupply, and cargo and customs documentation. “ADM’s ability to offer logistics services and expertise throughout the value chain is one of the things that sets us apart…
Great Ships of 2014: Harvest Frost
The first of three bulk carriers was delivered to Archer Daniels Midland Company (ADM), unique in that the ship features a host of innovative technologies, including the Mitsubishi Air Lubrication System (MALS), which reportedly helps the ship to achieve a 27% reduction in CO2 emissions as compared to conventional bulk carriers of the same capacity. Developed by Mitsubishi Heavy Industries, Ltd. (MHI) and built at Oshima Shipbuilding Co., Ltd. of Nagasaki, an MHI licensing partner…
ADM to Sell 50% Stake in Brazil Export Terminal to Glencore
U.S. agribusiness company Archer Daniels Midland Co has agreed to sell a 50-percent stake in its Barcarena grain export terminal in northern Brazil to commodities trader Glencore PLC, the company said during an analyst call on Tuesday. The companies are planning to increase the terminal's annual capacity to 6 million tonnes, from the current 1.5 million tonnes, after the deal, which is expected to close in the first half of 2015 pending regulatory approvals, ADM later detailed in a news release. The upgrade will allow the terminal to begin loading larger panamax vessels, which can hold around 60,000 tonnes, the company said. "Agricultural production is expanding rapidly in northern and western Brazil…
Oshima-built Grain Carrier Delivered in the US
Today the first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI) was delivered to Archer Daniels Midland Company (ADM) of the U.S., following its completion at Oshima Shipbuilding Co., Ltd. of Nagasaki, an MHI licensing partner. The newly delivered bulk carrier is the first of three vessels, designed to serve as grain carriers, ordered by ADM in 2011 from Sumitomo Corporation. The vessel was constructed by Oshima Shipbuilding with MHI providing the conceptual design and various green technologies, including MALS.
First Bulk Carrier Delivered to ADM of US
The first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI), a vessel offering superlative energy efficiency and environmental performance, was delivered today to Archer Daniels Midland Company (ADM) of the U.S., one of the world's foremost grain processors, following its completion at Oshima Shipbuilding Co., Ltd. of Nagasaki, an MHI licensing partner. The incorporation of a wide spectrum of innovative technologies - including MHI's proprietary Mitsubishi Air Lubrication System (MALS)…
ARTCO Turns to Class NK's SMSLLC for TSMS Help
SMSLLC to help leading tug and barge operator to prepare for new Towing Safety Management Regulation. Safety Management Systems LLC announced on April 18, 2013 that it has won a contract from American River Transportation Company (ARTCO) to assist the company to establish a Towing Safety Management System (TSMS) in accordance with pending U.S. Coast Guard (USCG) Subchapter M regulations. ARTCO, a wholly owned subsidiary of Archer Daniels Midland Company (ADM), is one of the largest U.S.
Bulk Carrier to Ride on Bubbles to Reduce CO2 25%
Mitsubishi Heavy Industries, Ltd. (MHI) has developed a new bulk carrier which it repotes will enable reductions in CO2 emissions by about 25% compared with conventional averaged bulk carriers. As the first commercial application of the new design, MHI will provide its conceptual design and green technologies to three grain carriers to be built for Archer Daniels Midland Company (ADM) of the U.S. MHI's new bulk carrier design adopts the company's proprietary Mitsubishi Air Lubrication System (MALS)…
Baltic Exchange Mulls New Freight Indexes for Grains, LNG
The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates and owns a trading platform for the multi-billion dollar freight derivatives market. SGX's ownership of the Baltic has enabled the exchange to set its sights on developing new areas…
Barge Shipments of Brazil Soy Bound for US Midwest Crushers
Deep discounts for Brazilian soybeans are creating an unexpected new market with U.S. processors and animal producers far upstream in the heart of the Midwest farm belt where the beans will be shipped on barges. While light soybean imports by U.S. users along the Gulf and East Coast are not uncommon, it has been nearly two decades since South American supplies were unloaded at the Louisiana Gulf and towed up the Mississippi River to inland processors. The current trend reverses the usual flow of barge traffic and sees ports around New Orleans which usually load ocean-going ships with beans switching to unloading arrivals onto barges.
Cargill Earnings Hit by Commodity Market Disruptions
Cargill Inc said on Tuesday its quarterly earnings fell 28 percent, making it one of the largest companies yet to demonstrate how big commodity market disruptions this year have hurt its bottom line. Minneapolis-based Cargill, a top global commodities trader, was hit by a triple-whammy of unexpected events, including a surge in energy prices in January, rail backlogs, and the rejection of U.S. corn shipments by China. The problems are likely to have also hit Cargill peers such as Archer Daniels Midland Co and Bunge Ltd, which are due to report financial results in the coming weeks. The coldest winter in 30 years catapulted regional U.S. natural gas prices to record highs, while power markets gyrated as producers struggled to keep supplies flowing to consumers.
Alaska Drill Rig Refit Contract Terminated
Buccaneer Energy contextualizes termination of its contract with Archer Drilling as project manager of work on one of its jack-up rigs. The contract was for Archer Drilling to act as project manager of modifications and repairs to the Endeavour-Spirit of Independence jack-up rig owned by Kenai Offshore Ventures, LLC, which is a joint venture between Buccaneer, Singapore based Ezion Holdings Limited and the Alaska Industrial Development and Export Authority (“AIDEA”). Buccaneer is the designated Manager of Kenai Offshore. Archer Drilling was engaged by Kenai Offshore in October 2011 under a Master Services Agreement (“MSA”) to provide project management services for the modifications and repairs required to be undertaken to the Endeavour to allow it to operate in the Cook Inlet, Alaska.
Frontline Sells Suezmax Tanker
Frontline has entered into an agreement to sell one of its 2000-built Suezmax tankers, Front Archer. Front Archer was designed and built with future employment as shuttle tanker in mind and is equipped with controllable pitch propeller and thruster tunnel. It is the buyer's intention to use the vessel in shuttle operations. Frontline took delivery of the Front Archer in February 2000 and the vessel has traded in the spot market from delivery. The vessel is expected to be delivered to the buyer in July/August 200. Frontline expects to book a profit of approximately $20 million and to release about $ 32 million in liquidity. Frontline did not fully utilize the technical capacity of Front Archer in regular trading.
Payment Problems Disrupting Iran Food Deals
Payment problems are disrupting commercial food cargoes to Iran, with hundreds of thousands of tonnes of grain and sugar stuck in transit, as Western banking sanctions complicate deals and trade financiers scale back exposure. Iran is not barred from buying food or other "humanitarian" goods under sanctions imposed over Tehran's pursuit of nuclear technology, but measures by the European Union and the United States have made trade more difficult over the past two years. Several international trade sources, with knowledge of deals that have been affected, told Reuters that ships carrying cargoes of grain, including wheat and soybeans, as well as raw sugar, have been stuck for several weeks outside Iranian cargo ports such as Bandar Imam Khomeini and Bandar Abbas.
Singapore Navy Submarine Returns from Swedish Refit
The Singapore Navy's second 'Archer-class' submarine 'RSS Swordsman' returns to Singapore after upgrading. The Republic of Singapore Navy's (RSN) Archer-class submarine, RSS Swordsman, has arrived at Changi Naval Base (CNB) from Sweden. Chief of Navy, Rear-Admiral Ng Chee Peng, and other senior naval officers were present at CNB to witness its return. Launched in Karlskrona, Sweden, on 20 October 2010, RSS Swordsman is one of two ex-Royal Swedish Navy Västergötland-class submarines that Singapore acquired in 2005.
Korean Yard to Build Fourth Atwood Ultra-deepwater Drillship
An Atwood Oceanics subsidiary has entered into a turnkey construction contract with Daewoo Shipbuilding & Marine Engineering to construct a fourth ultra-deepwater drillship, to be named 'Atwood Archer'. The Atwood Archer is expected to be delivered by December31, 2015 at a total cost, including two blowout preventers , project management, drilling and handling tools and spares, of approximately $635-million. Upon delivery, the new rig will become the seventeenth mobile offshore drilling unit owned by the Company.