I found a PowerPoint from AWO entitled Subchapter M: What you need to know.
Applicability: All US flagged towing vessels
Exceptions:
- Vessels less than 26 ft in length unless moving a barge carrying oil or hazmat
- Assistance towing vessels
- Workboats operating within worksite
- Sea going tugs greater than 300 GRT
- Other inspected vessels that perform occasional towing