Bligh Reef Bligh Reef Bligh Reef, sometimes known as Bligh Island Reef, is a reef off the coast of Bligh Island in Prince William Sound, Alaska. This was the location of the 1989 "Exxon Valdez" oil spill. After the incident, US Code 33 § 2733 mandated the operation of an automated navigation light to prevent future collisions with the reef. Despite these efforts the tug "Pathfinder" ran aground on Bligh Reef on Dec 24, 2009, rupturing its tanks and spilling diesel fuel. Bligh Reef is also where Alaska Steamship Company's Olympia ran aground in 1910. Bligh Reef serves as a fishing ground
Oil tanker instrument, Shell consulted the "London Tanker Brokers’ Panel (LTBP)". At first, they divided the groups as "General Purpose" for tankers under ; "Medium Range" for ships between 25,000 and and "Large Range" for the then-enormous ships that were larger than . The ships became larger during the 1970s, which prompted rescaling. The system was developed for tax reasons as the tax authorities wanted evidence that the internal billing records were correct. Before the New York Mercantile Exchange started trading crude oil futures in 1983, it was difficult to determine the exact price of oil, which could change with every contract.