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ADM and Gavilon each have a 45 percent stake in Kalama, a grain export terminal in Washington state that handled a quarter of all Pacific shipments in 2009. The remaining 10 percent share is owned by Mitsubishi Corp.
The completion of Japanese trader Marubeni Corp’s purchase of U.S. grain merchant Gavilon is being delayed by at least two months as talks on ownership of an important West Coast export terminal [Kalama Export] and regulatory reviews hold up the $5.6 billion deal, people familiar with the matter said.
ADM is believed to have the right of first refusal on the terminal, giving it the option to buy Gavilon’s share of the joint venture if the company changed hands, trade sources said.
With exports to China booming, the terminal — recently expanded by 25 percent — is a prize asset, all the more so because it is one of Gavilon’s few export gateways.
Marubeni is more established overseas. It owns Columbia Grain, a Portland export facility, however, and accounted for 8.5 percent of U.S. exports last year, PIERS data show.
More in the Chicago Tribune
A Texas reporter looks at the issue of trucking weight and the impacts of the Panama Canal.With increased shipments moving through the Panama Canal, many believe upping truck weight limits is the next logical step. … Most likely, a weight increase from 80,000 to 97,000 pounds would have to come with an increase of five to six axles on a truck; however, motor carriers often don’t want to add additional axles because it cuts into the payload.
The issue of the safety of local roadways is the most important factor of the truck-weight discussion, said Brian Fielkow, president of Houston-based Jetco Delivery Inc., which operates 90 trucks out of local terminals.
“From my standpoint, it is all about safety — can the trucks and trailers on the roads be safe, and can the highway structure handle it?” Fielkow said. “A good business case can be made for or against the heavier weight limits, but for me, you have to look at the safety and infrastructure issues.”
Houston Business Journal
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