Marine Link
Monday, December 5, 2016

Signet Acquires Colle Towing

July 16, 2010

Photo courtesy Graphique, Inc.

Photo courtesy Graphique, Inc.

Signet Maritime Corporation, a marine transportation and logistics company, continues to grow with their recent purchase of Colle Towing Company’s assets and business operations. Since 1878, Colle Towing Company Inc., Pasacagoula MS has been providing offshore, harbor and intracoastal marine towing on the Mississippi Gulf Coast. Assets and personnel in Pascagoula will begin operations immediately under the new name, Colle Maritime Company, a Division of Signet Maritime Corporation. The company operates tugs for the Port of Pascagoula in both the Bayou Casotte and Pascagoula River Ports and operates a full-service shipyard and 600 ton Travelift for repair of vessels and barges.   Signet and Colle were recently awarded a twenty-year contract to provide marine services to Angola LNG Supply Services (ALSS) in the Port of Pascagoula, Mississippi.  The agreement, to commence third quarter 2011, includes options to extend for up to ten additional years.

J. Barry Snyder, president and chief executive officer of the combined companies said, “Through this transaction we have strengthened our company, added depth to our fleet and fortified our position in the Port of Pascagoula.  It’s been a busy year for us with the ALSS LNG contract, the acquisition of Colle, and the construction of three new tugs–two for LNG and one ASD here at Colle Shipbuilding & Repair, also a division of Signet Maritime Corporation. The same proud service which Colle has provided for over 100 years will be maintained by Colle Maritime and enhanced by Signet’s ISO 9001:2008•ISM•STCW 95•MTSA•AWO-RCP certifications by the end of October 2010.”
 
“We are pleased to report all Colle employees have been offered employment with Colle Maritime and have accepted.” Further, Snyder said, “Signet will continue to expand its international marine transportation and logistics services, with concentration in the Americas, Africa and Middle East.”
 



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News