HAMBURG, GERMANY — Archer Daniels Midland Company (ADM) and Alfred C. Toepfer International GmbH (Toepfer) announced on Oct. 28 an agreement to combine their respective ocean freight groups into one global operation. 

The new organization will bring together the individual strengths and business knowledge of each company to create one of the industry’s largest agricultural bulk commodities ocean freight operations, as well as a leading force in the bunker and freight derivatives marketplace, the companies said.

“By combining ADM and Toepfer’s ocean freight teams, we will leverage the resources, best practices and know-how of the two companies to build a more efficient, more competitive ocean freight business,” said Hans Christian Jensen, director of ADM’s global freight business. Jensen will lead the new organization.

“By capitalizing on the already-strong global networks of both companies, the combined operation will increase the scope of our activities in terms of both volume and geography, enabling ADM and Toepfer, together, to advance our leadership in the industry,” said Domingo Lastra, chairman of the management board of Toepfer.