Signet Maritime has announced the acquisition of eight Harvey Gulf International Marine offshore towing vessels (OTVs).
The sale will encompass all Harvey OTVs, spares, business and supplies. Signet has committed to retention of all crewmembers, as well as plans for Tier III-compliant generation of power onboard all eight tugs, with conversions starting immediately.
The purchase expands Signet's vessel classes and allows the company to broaden its service, offering over 38 ASD tractor and conventional vessels to customers in the Gulf of Mexico and worldwide.
When combined, the modern fleet under Signet ownership and operation will average 11 years of age.
The transfer of OTV ownership was completed in mid-May in New Orleans, USA, with financing provided by Wells Fargo Equipment Finance. All vessels are scheduled for Tier III upgrade and refurbishment at Signet Shipbuilding and Repair in Pascagoula, Mississippi.
Signet will continue to maintain its offshore towing division operations from Port Fourchon, Louisiana.
The purchase of ABS-classed towing vessels includes the 153TBP 'Signet Warhorse II', the 98.8TBP 'Signet Lightning', and the 75.7TBP 'Signet Trojan'.
