American Steamship, a unit of

GATX

(GMT)

, said it acquired six vessels from

Oglebay Norton Marine Services

for $120 million.

Following the acquisition, American Steamship will operate a fleet of 18 vessels.

American Steamship has been operating on the Great Lakes since 1907 and was purchased by GATX in 1973. It transports a variety of dry bulk commodities including iron ore pellets, coal and limestone aggregates.

This story was created through a joint venture between TheStreet.com and IRIS.