August 1, 2006
Oglebay Norton sells last ships
Oglebay Norton Company says that its wholly-owned subsidiary, Oglebay Norton Marine Services Company, LLC, has completed the sale of its three remaining self-unloading freighters for $18.7 million to Wisconsin & Michigan Steamship Company.
Divested were the M/V David Z. Norton, M/V Wolverine and the M/V Earl W. Oglebay.
In a separate agreement but coincidental with the sale of the vessels, Oglebay Norton secured carriage for limestone from its quarries through a favorable long-term contract of affreightment with Lower Lakes Transportation Company. All remaining company customer obligations for bulk carriage on the Great Lakes were assumed by Lower Lakes Transportation Company as well.