Matthew Jansen, president of the US commoditiesgiant’s oilseeds division, says the new additions to its South Americantransportation network will be used to ferry soybeans and corn to Belem in Parastate.
In an interview with Bloomberg he pointedout the investment will aid ADM in its campaign to significantly increase volumesat the port while reducing costs and expanding its presence outside of the US.
Jansen, who noted his company is lookingto raise annual volumes at Belem to about six million metric tonnes over thenext five years, said plans are in place to double the size of the SouthAmerican barge fleet.
Of the 2,400 units in ADM’s stable the executiveindicated that approximately 260 are dedicated to the region, which suggests thecompany is looking to build, acquire or charter approximately 500 in total.
ADM is based in Decatur, Illinois butrecently announced plans to move its global headquarters to Chicago. Inaddition to an extensive network of tugs, barges, trucks and railcars thecompany owns nearly a dozen bulkers.
Like many cash-rich commodities playersthe group has used the downturn in the shipping industry as an opportunity totake greater control of the supply chain buy acquiring and operating its own assetsin addition to chartered tonnage.
