The Arca 1 has been removed from the shore.
Coast Guard spokesperson Stephen Bornais told The Coast McKeil Marine went onboard the vessel at around 6:45 am to prepare it for tow.
Bornais went on to say it was successfully towed into deeper water at roughly 10:00 am.
The vessel will be heading to Sydney Harbour for an inspection.
The Arca 1 ran aground near Little Pond last Sunday after its engines failed.
The boat was sailing from Montreal to Mexico.
Ottawa says the Mexican company that owns the ship is responsible for removal costs.