I called a company in Miami that makes fire hose, sorry can't recall the name, I found them on the web,. They sent me something like 25 feet of a couple different diameter / sizes of fire hose for free, I paid for the shipping. The stuff was from their bone yard, but it was bomber and brand new. I have been using this for years, it is great and free. I took a punch and put a couple holes in either end to tie small keepers to the line, but with the stuff I got, the mooring pennant is sort of snug inside anyway.
But, I made up my pennants with the fire hose on before splicing eyes and shackles, etc., no way I could get it on now. So the Velcro wrap is an excellent idea. I have some similar ones that I use for chafe for smaller (dock, dinghy, etc.) lines made out of leather that look really nice, some are sewn, some have similar Velcro wrap ... I got them custom from Boatleather.com. He has very nice stuff, and will make you anything you want.
Cheers Max ... John