Cargill Ocean Transportation chartering department has posted an increased net profit of $1 billion in Q3 2018 which is up 5% from Q3 2017. Cargill Ocean Transportation has reported revenue was also up 5% to $28 billion in Q3 2018. Cargill Ocean Transportation showed good performance in trade finance and commodity risk management. Cargill Ocean Transportation business demonstrated leadership in decarbonizing the shipping industry by committing to reduce its carbon dioxide output per cargo-ton-mile by 15% by the end of 2020.
Cargill Ocean Transportation chartered in 2016 built capesize dry bulk carrier 179K DWT M/V Anangel Brilliance from Greek shipowner and operator Anangel Maritime for one year for $19K per day. Greek shipowner and operator Anangel Maritime bought the capesize dry bulk carrier M/V Anangel Brilliance from Scorpio Bulkers in 2015 for $44 million.
Commodity Trader Cargill will cut back on asset sales after a $2.4 billion disposal effort in 2015. One of the major dry bulk carrier charterers and shipping market player Cargill Ocean Transportation reported a drop in full-year adjusted earnings. In the first half of 2016, Cargill Ocean Transportation reported operating earnings of $1.6 billion. Other commodity giants Archer Daniels Midland and Bunge have similar shrinking margins in 2016.