ADM Buys Black Sea Export Terminals

The US food-processing company Archer Daniels Midland has added export terminals at the Romanian Port of Constanta on the Black Sea to its European origination and transportation network, through an agreement to acquire complete ownership of North Star Shipping and Minmetal.

ADM, through its minority stake in North Star and through Minmetal—a separate 50-50 joint venture owned by ADM and North Star—previously owned approximately 45 percent of the Constanta assets.

North Star and Minmetal operate grain elevators and bulk commodity storage and warehousing as well as port services, stevedoring operations and a shipping agency at the mouth of the Danube River.

The export terminal in the Port of Constanta has ten vessel berths, including seven deep sea berths; port terminals with annual throughput capacity of up to 6 million metric tons; an on-site grain storage capacity of 330,000 metric tons; two floating cranes for direct barge-oceangoing vessel transfer; mobile shore cranes and equipment; a vacuum discharge and ship loader; and an iron ore and coal terminal located on 21 hectares.

The Port of Constanta sits on the Black Sea at the mouth of the Danube River, making it the primary ingress and egress point for bulk commodities being traded into and out of Romania, Bulgaria, Serbia and Hungary.

”We’ve talked about the potential to double the volume of our grain business. Here, we’re taking a great step in that direction with this strategic expansion of our European network,” said Joe Taets, president of ADM Europe Middle East and Africa.

”By becoming full owners of these facilities on the Black Sea, we’re building on the investments we have made in our Danube River network since 2011, which enhances our origination, logistics and export capabilities in Eastern Europe, and allows us to reach more customers around the globe.”

Image: Port of Constanta