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A new stock purchase agreement hopes to improve shipping within the Great Lakes. Rand Logistics, based out of New Jersey, has purchased enough stock, to acquire American Steamship Company, out of Buffalo, New York.
Rand is an affiliate of American Industrial Partners, and ships dry goods throughout the Great Lakes region.
ASC is the largest fleet of flagged vessels in the US, and ships over 27 million tons of iron ore, coal and limestone annually.
The largest vessels in the fleet are over 1,000 feet long.
The new deal between Rand and ASC has created the largest and most diverse fleet on the Great Lakes, with multiple self loading vessel classes.
The Chairman of Rand’s Board of Directors, Jason Perri said he was happy to team up with ASC, based on their history of reliability, safety and service moving raw materials.
