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SeaRiver Maritime
SeaRiver Maritime is a privately held subsidiary wholly owned by ExxonMobil. The company was formed in the early 1990s by Exxon when it spun off its maritime operations into the new company following the Exxon Valdez oil spill in 1989. In 1994, SeaRiver applied for a federal subsidy to operate tankers in the Persian Gulf. The petition stated they needed the money to stay competitive, because the ''S/R Mediterranean'' (the new name for the Exxon Valdez vessel) was unable to operate in Prince William Sound following the passage of the Oil Pollution Act of 1990 The Oil Pollution Act of 1990 (OPA) (101 H.R.1465, P.L. 101-380) was passed by the 101st United States Congress and signed by President George H. W. Bush. It works to avoid oil spills from vessels and facilities by enforcing removal of spilled ..., which prohibits the tanker from operating in that area. In 1996, SeaRiver sought to put the ''S/R Mediterranean'' back into Prince William Sound by arguing that the Oil Pol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on ''Forbes'' survey of closely held U.S. businesses sold a trillion dollars' worth of goods and services (4 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ExxonMobil
ExxonMobil Corporation (commonly shortened to Exxon) is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, 1999, by the merger of Exxon and Mobil, both of which are used as retail brands, alongside Esso, for fueling stations and downstream products today. The company is vertically integrated across the entire oil and gas industry, and within it is also a chemicals division which produces plastic, synthetic rubber, and other chemical products. ExxonMobil is incorporated in New Jersey. ExxonMobil's earliest corporate ancestor was Vacuum Oil Company, though Standard Oil is its largest ancestor prior to its breakup. The entity today known as ExxonMobil grew out of the Standard Oil Company of New Jersey (or Jersey Standard for short), the corporate entity which effectively controlled all of Standard Oil prior to its breakup. Jersey Standard grew a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exxon Valdez Oil Spill
The ''Exxon Valdez'' oil spill occurred in Prince William Sound, Alaska, on March 24, 1989. ''Exxon Valdez'', an oil supertanker owned by Exxon Shipping Company bound for Long Beach, California struck Prince William Sound's Bligh Reef, west of Tatitlek, Alaska at 12:04 a.m. and spilled (or 37,000 tonnes) of crude oil over the next few days. The ''Exxon Valdez'' spill is the second largest in U.S. waters, after the 2010 ''Deepwater Horizon'' oil spill, in terms of volume of oil released. Prince William Sound's remote location, accessible only by helicopter, plane, or boat, made government and industry response efforts difficult and made existing response plans especially hard to implement. The region is a habitat for salmon, sea otters, seals, and seabirds. The oil, extracted from the Prudhoe Bay Oil Field, eventually affected of coastline, of which were heavily or moderately oiled. Spill ''Exxon Valdez'' was carrying of oil, of which approximately were spilled int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exxon Valdez
''Oriental Nicety'', formerly ''Exxon Valdez'', ''Exxon Mediterranean'', ''SeaRiver Mediterranean'', ''S/R Mediterranean'', ''Mediterranean'', and ''Dong Fang Ocean'', was an oil tanker that gained notoriety after running aground in Prince William Sound, spilling its cargo of crude oil into the sea. On March 24, 1989, while owned by the former Exxon Shipping Company, captained by Joseph Hazelwood and First Mate James Kunkel, and bound for Long Beach, California, the vessel ran aground on the Bligh Reef, resulting in the second largest oil spill in United States history. The size of the spill is estimated to have been . In 1989, the ''Exxon Valdez'' oil spill was listed as the 54th largest spill in history. Carrier The tanker was 301 meters long, 51 meters wide, and 26 meters deep (987 ft x 166 ft x 88 ft), with a deadweight of 214,861 long tons and a full-load displacement of 240,291 long tons. The ship was able to transport up to at a sustained speed of , ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Pollution Act Of 1990
The Oil Pollution Act of 1990 (OPA) (101 H.R.1465, P.L. 101-380) was passed by the 101st United States Congress and signed by President George H. W. Bush. It works to avoid oil spills from vessels and facilities by enforcing removal of spilled oil and assigning liability for the cost of cleanup and damage; requires specific operating procedures; defines responsible parties and financial liability; implements processes for measuring damages; specifies damages for which violators are liable; and establishes a fund for damages, cleanup, and removal costs. This statute has resulted in instrumental changes in the oil production, transportation, and distribution industries. History/Background Laws governing oil spills in the United States began in 1851 with the Limitation of Liability Act. This statue, in an attempt to protect the shipping industry, stated that vessel owners were liable for incident-related costs up to the post-incident value of their vessel. The shortcomings of this ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ships Of ExxonMobil
A ship is a large watercraft that travels the world's oceans and other sufficiently deep waterways, carrying cargo or passengers, or in support of specialized missions, such as defense, research, and fishing. Ships are generally distinguished from boats, based on size, shape, load capacity, and purpose. Ships have supported exploration, trade, warfare, migration, colonization, and science. After the 15th century, new crops that had come from and to the Americas via the European seafarers significantly contributed to world population growth. Ship transport is responsible for the largest portion of world commerce. The word ''ship'' has meant, depending on the era and the context, either just a large vessel or specifically a ship-rigged sailing ship with three or more masts, each of which is square-rigged. As of 2016, there were more than 49,000 merchant ships, totaling almost 1.8 billion dead weight tons. Of these 28% were oil tankers, 43% were bulk carriers, and 13% were cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
