Rand acquiring bulk carriers
Great Lakes carrier Rand Logistics Inc. said its wholly owned subsidiary, Lower Lakes Towing Ltd., acquired two conventional bulk carriers from the Voyageur group of companies for $23.7 million.
The New York-based company said it has also entered into a contract of affreightment with Voyageur for the exclusive use of a third vessel, and secured an option to acquire this vessel for $4.9 million,
Lower Lakes has negotiated or assumed long-term contracts with new and current shipper customers. The vessels will primarily carry grain.