rss icon Subscribe
desktop mobile

ADM Brazil Unit Invests $85 Mln in Santos Port

Posted by Eric Haun

The Brazilian unit of Archer Daniels Midland Co on Friday said it had completed a 33 percent expansion in its Santos port terminal's export capacity to 8 million tonnes of grains per year.
The company invested 280 million reais ($85.19 million) in the project, which comes two years after Brazil extended ADM's license to move grains including soybeans and corns at the terminal for 20 years through 2037.
The investment underscores the company's commitment to retaining a leading position in Brazil, whose agricultural heartland is seen as critical to supplying expanding world food markets.
ADM kicked off activity at Santos in 1997, coinciding with its arrival in Brazil, which the company says is key for its global strategy. It began the Santos port operations after purchasing several crushing plants, grain elevators and silos.

($1 = 3.2868 reais)

(Reporting by Ana Mano; Editing by Christian Plumb and Cynthia Osterman)

May 19, 2017

 

Bulk Carrier Trends

Bulk Carrier Rescues Fishermen off Peru

Photo: NYK Line

The commercial bulk carrier Global Vega rescued seven fishermen in distress on May 21 off the

Baltic Index Falls to Lowest Since Early March

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk

U.S. Freight Recovery Spurs Diesel Demand

File Image: CREDIT AEP

U.S. freight movements have started increasing again, which should help boost consumption of

Finance

ICTSI Terminates Nigeria Port Project

Photo: International Container Terminal Services

International Container Terminal Services (ICTSI) subsidiary Lekki International Container

Marseille Fos to Cut Dues for Eco-friendly Ships

File photo: Marseille Fos

Marseille Fos has joined the World Ports Climate Initiative (WPCI) and is now set to reduce port

US Drillers Add Oil Rigs in a Record Streak but Pace Slows

© Natalia Bratslavsky / Adobe Stock

U.S. energy firms added oil rigs for a record 19 weeks in a row as expectations of higher crude

Maritime Apps