Signet buys eight offshore towing vessels

Purchase: towing vessel Signet Warhorse II among those added to Signet fleet in US Gulf

Houston-based marine transportation provider Signet Maritime has acquired eight offshore towing vessels from Harvey Gulf International Marine for work in the US Gulf of Mexico.

All eight boats - which range in size from 75- to 153-tonnes bollard pull - will be refurbished and upgraded at Signet Shipbuilding & Repair in Pascagoula, Mississippi.

Signet said the vessels were transferred to its fleet on 15 May in New Orleans. The acquisition price was not disclosed but Signet said financing was provided by Wells Fargo as part of a $209 million syndicated financing facility.

Signet now counts almost 40 vessels in its US Gulf and worldwide fleet for ocean-towing of semi-submersible and jack-up rigs, as well as tension-leg platforms.

Signet's boats have towed Shell's Olympus and Chevron's Big Foot TLPs, Chevron's Jack-St Malo semisub and Anadarko's Lucius spar to their respective fields in the US Gulf.

Signet also offers anchor handling and subsea pipeline installation support.

The company said it will continue to maintain its Offshore Towing Division operations from Port Fourchon, Louisiana.

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