World Grain - November 2011 - 20

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ADM orders three new oceangoing vessels
DECATUR, ILLINOIS, U.S. — Archer Daniels Midland Company (ADM) announced on Oct. 13 that it has placed an order with Japan’s Sumitomo Corp. 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 tonnes 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 said its 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.

Bunge’s third-quarter profit falls 32%
WHITE PLAINS, NEW YORK, U.S. — Bunge Ltd. said on Oct. 27 that its third-quarter net income decreased 32% with its agribusiness, sugar and bioenergy and milling product segments having lower than expected results. Bunge reported earnings of $132 million or 89¢ per share for the third quarter ended Sept. 30. That compares to earnings of $193 million or $1.36 per share for the same period last year. Revenue increased 34% to $15.62 billion. Pretax earnings in agribusiness were $159 million compared to $313 million last year. Sugar and bioenergy reported a pretax loss of $43 million compared to a proﬁt of $34 million last year. Edible oil products had a $28 million pretax proﬁt, down from $30 million the previous year. The milling products sector also was down with pretax proﬁt of $24 million, compared to $39 million a year earlier. Bunge said it expects a strong close to the year, and a stronger performance for its sugar and bioenergy segment in 2012.

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World Grain - November 2011

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