Some will recognise the tug as the ex BARGARTH, built by Richards at Lowestoft in 1966 (I seem to recollect that the year 1966 is significant for something?)
I thought it was Geordie, something to do with money changing hands, a 'tenna herd hya' Doesn't seem to be a real place name or anything at all, maybe one of those made-up names or anagrams. Scilly name anyway.