American Steamship Co (ASC) saw its profit drop by 28.4% in the third quarter as Great Lakes cargo volumes slumped.
ASC, which owns a fleet of dry-bulk lakers, reported a segment profit of $7.8m, a slump from the $10.9m booked in the same period of last year, parent GATX said.
The dip was largely attributed to a 14.7% drop in net cargo volumes carried by the company’s fleet.
“Lower
