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That's sad. As long as there's no nefarious doings, it's a loss to us as the old wooden tugs are getting rare and very expensive to maintain. I'd kill for a 60 foot restored tug, but I don't have enough dosh. Take a look at the Glendenning site.
 
Too bad, a pretty, old tug. We`ve a steam one in Sydney, probably iron/steel, hate to lose it. Commiserations.
 
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