October 18, 2011

ADM orders new oceangoing vessels from Japan's Sumitomo
Press Release


ADM expands its global transportation network to handle increasing crop shipments by ordering three new post Panamax dry bulk oceangoing vessels from Japan's Sumitomo Corporation.

The post Panamax dry-bulk carriers will have deadweight of approximately 95,000 tonnes each.

"Adding three new oceangoing vessels to the global transportation network supports the 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 ranges in size from Handy and Handymax to Supramax and Panamax-serves as the backbone of ADM's grain transportation programme.

ADM's 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.

Oshima Shipbuilding Company Ltd., a Japanese shipbuilding company specialising in dry bulk carriers, has been selected to build the ships. ClassNK, a Tokyo-based ship classification society, has provided project advisory assistance and has been selected as the classification society. Mitsubishi Heavy Industries, Ltd. will provide green technology to help the vessels achieve approximately a 25 percent reduction in carbon dioxide emissions through superior hull form, propulsion systems and the Mitsubishi Air Lubrication System (MALS) innovative technology which reduces frictional resistance between the vessel hull and seawater using air bubbles along the bottom of the vessels. Fleet Management Ltd. of Hong Kong has provided project management.

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