Signet Forms New Ocean Transportation Services Division

Signet Marine Group, an operating entity of Signet Corporation of Houston, has formed an Ocean Transportation Services (OTS) Division, according to a recent announcement by J. Barry Snyder, president and chief executive officer of Signet, and Thomas V. Van Dawark, executive vice president of Dillingham Maritime. Under the terms of an agreement between Signet and Dillingham Maritime, Signet will charter Dillingham vessels to augment its existing fleet. The OTS Division will specialize in marine towing and transportation of liquid, dry bulk, breakbulk. containerized, and project cargoes in the Atlantic, Gulf Coast, and Caribbean. Signet Marine's established operations include Bulkfleet Marine Corporation, a carrier of refined petroleum products and other bulk materials.

The management team chosen for the development of the expanded Signet Marine Group will include many of the former key Ocean Transportation Services, Inc. managers from Dillingham.

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