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Marine Log

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.

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