Targe Towing

What Targe Towing does

Targe Towing Ltd is a Scottish marine services company specializing in harbour and terminal towage, founded in 1991 by Tom Woolley, Josephine Woolley, and Nick Dorman. The company was acquired by Forth Ports Ltd in 2021 and subsequently merged with Forth Ports' subsidiary Forth Estuary Towage Ltd, retaining the Targe Towing brand and operating as a wholly-owned subsidiary of the Forth Ports Group. From bases across 12 ports on the east coast of Scotland — including Aberdeen, Peterhead, Montrose, Dundee, Methil, Leith, Burntisland, Rosyth, Grangemouth, Braefoot Bay, and Hound Point Marine Terminal — the company operates a fleet of 10 harbour and terminal tugs ranging from 30 to 124 tons bollard pull and 22m to 44m in length, plus crew transfer vessels and line handling workboats.

Name

Targe Towing

Legal name

Targe Towing Ltd

Website

https://targetowing.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

Targe Towing is a Scottish harbour and terminal towage company operating 10 tugs across 12 east coast ports, serving oil and gas operators, offshore wind developers, and port authorities with vessel movement and marine services since 1991.

Ownership category

akta.pro rank

Product category

Marine Towage Services

NAICS

Water Transportation (483), Support Activities for Water Transportation (4883), Inland Water Transportation (48321)

SIC

Water Transportation (4400)

akta.pro primary industry

Terminal & Shipyard Towage (Intra-Port/Facility Moves) (TLAHAHAI)

akta.pro secondary industries

Harbor Towage (Ship Assist & Berthing/Unberthing) (TLAHAHAA), Ship Docking/Undocking & Drydock Towage (TLAHAHAD), Emergency Towage & Standby Tug Services (Distress Response) (TLAHAHAG)

Keywords

• Harbour towage services
• Terminal tug operations
• Marine vessel assist
• Offshore wind support
• Port marine services

Headquarters

HQ city

Dundee

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Harbour and Terminal Towage Services: Core revenue from providing towage services to ports and terminals across the east coast of Scotland, including harbour towage, terminal operations, and vessel assist services.
2. Offshore Wind Support Services: Specialized services supporting vessel movements associated with the offshore wind industry, including crew transfer vessels and terminal operational staff.
3. Complex Towage Projects: Specialist towage for jack-up oil rigs, FPSOs, and other floating structures, representing higher-value project-based work.
4. Time Charter of Tugs: Provision of tugs on a time charter basis to meet customer requirements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Targe Towing provides harbour and terminal towage services from bases on the east coast of Scotland using a fleet of 10 harbour and terminal tugs (ranging from 30 to 124-ton bollard pull). The company specialises in supporting vessel movements for the offshore wind industry and other complex towage projects, including jack-up rigs, FPSOs, and floating structures, supplemented by crew transfer vessels, line handling workboats, and time charter of tugs.

Product overview

Targe Towing is a marine services company operating a fleet of 10 harbour and terminal tugs (ranging from 30 to 124-ton bollard pull, 22m to 44m in length), supplemented by crew transfer vessels, line handling workboats, and a workboat at Hound Point Marine Terminal. The company provides harbour and terminal towage services from bases on the east coast of Scotland, specialising in offshore wind industry vessel movements and complex towage projects. Services include time charter of tugs, crew transfer, and line handling operations. The fleet comprises named vessels including Mt Hopetoun (world's most powerful harbour tug), Mt Corringham, Mt Queensferry, Mt Peterel, Mt Kittiwake, Mt Carrickfergus, Mt Craigleith, Mt Fidra, Mt Inchcolm, Mt Balmerino, Mt Camperdown, and Targe Guillemot, alongside marine service vessels Ctv Skua, Lhv Gannet, Lhv Cormorant, and Lhv Fowler.

Differentiator

Problem solved

Functional benefit

Products and services

• Harbour and Terminal Towage Services Core towage services provided from bases on the east coast of Scotland across 12 ports including Aberdeen, Peterhead, Montrose, Dundee, Methil, Leith, Burntisland, Rosyth, Grangemouth, Braefoot Bay, and Hound Point, for port authorities and terminal operators requiring harbour and terminal towage services.
• Offshore Wind Industry Support Specialised vessel movement support for the offshore wind industry, including crew transfer vessels, terminal operational staff, and complex towage projects such as movement of jack-up oil rigs, FPSOs, and other floating structures.
• Crew Transfer Vessel Services Crew transfer vessel services supporting offshore marine operations, including dedicated crew transfer operations at Hound Point Marine Terminal.
• Line Handling Vessel Services Line handling vessel services and terminal operational staff provided for marine operations across port locations.
• Time Charter of Tugs Range of tugs available on a time charter basis to meet customer requirements at ports and energy companies.
• Complex Towage Projects Specialist towage for jack-up oil rigs, FPSOs, and other floating structures, representing higher-value project-based work for oil and gas operators.

Quantifiable outcome

• 3 million manhours Lost Time Injury Free (INEOS FPS 2021)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Sanmar ShipyardscoreTechnology or IntegrationShipyard partnership for construction and maintenance of tug vessels. Sanmar is a Turkish shipyard specializing in tug construction.
• Damen ShipyardcoreTechnology or IntegrationShipyard partnership for construction of Damen ASD (Azimuth Stern Drive) tugs and other vessel types including RSD and Next Gen Twin Fin tugs.
• Robert AllancoreTechnology or IntegrationMarine engineering firm providing design and technical expertise for tug vessel specifications and naval architecture.
• British Tugowners Association (BTA)coreStrategic or Co-development PartnerIndustry association representing port towage operators in UK. Targe Towing actively participates in executive and technical committees. Both Tom Woolley and Nick Dorman have served as President of BTA.
• UK Chamber of ShippingminorStrategic or Co-development PartnerIndustry body providing secretarial support for British Tugowners Association and representing UK shipping industry interests.
• European Tugowners Association (ETA)coreStrategic or Co-development PartnerContinental representation for towage industry in Brussels and European capitals. Nick Dorman currently serves as UK representative on the ETA executive committee.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Svitzer: Global towage operator and a division of Maersk, operating harbour and terminal towage fleets across Europe, the Americas, Asia-Pacific and the Middle East. Directly comparable as a multi-region tug operator serving ports and offshore energy customers with similar vessel types (ASD, Voith) and contract structures.
• Boluda Towage: European-focused towage operator (part of Boluda Corporación Marítima) with harbour and terminal tug operations across Spain, France, UK, and other European ports. Direct competitor for UK and Northwest European harbour towage contracts, including offshore wind support.
• KOTUG International: Dutch-headquartered global towage operator with harbour, terminal, and offshore terminal towage services. Operates similar vessel classes (including high-bollard-pull ASD tugs) and serves comparable oil & gas and offshore wind customers, with active UK and North Sea presence.
• Multraship: Dutch towage and salvage company operating harbour tugs, terminal tugs, and salvage vessels across Northwest Europe. Comparable as a family-owned / mid-sized towage specialist with high-bollard-pull tonnage and similar terminal towage contract model.
• Smit Lamnalco: Joint venture between Royal Boskalis Westminster and Rezayat Group providing harbour towage and terminal services globally, with particular focus on oil & gas and LNG terminals. Directly comparable for the terminal towage and offshore energy support work that anchors Targe's revenue.
• Briggs Marine: UK-based marine services contractor providing harbour towage, terminal operations, and vessel support across British ports. Directly comparable as a UK-domestic towage operator competing for the same port and terminal contracts.
• Denholm Wilhelmsen: UK and global ship agency and marine services provider, with harbour towage operations across multiple UK ports. Directly competes for harbour towage contracts in the same UK geographies and customer base as Targe.

Regional players

• Fairplay Towage: European harbour towage operator with strong presence in the Mediterranean, German Bight, and Baltic — not directly competing in Scotland but a comparable mid-sized regional towage company with similar fleet mix and oil & gas / offshore wind exposure.

Broad incumbents

• Wilson Sons: Large Brazilian port and maritime services operator with significant harbour towage operations in South America. Comparable as a broader port services incumbent with a dedicated towage division operating multi-vessel fleets under long-term contracts with oil terminals and ports.

Others

• Forth Ports Limited: Parent company of Targe Towing since 2021 and statutory harbour authority for the Forth. Included as a peer because Forth Ports' broader port investment, customer relationships, and capital allocation decisions directly shape Targe's commercial trajectory, even though it does not itself operate towage vessels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/targe-towing-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Targe Towing