W. EUGENE DAVIS, Circuit Judge:
Milford Navigation Company (Milford) owned and operated a tanker vessel, OLYMPIC GLORY, which was engaged in transporting crude oil and other petroleum products for Amoco, the time charterer of the vessel. When the vessel called in New Orleans to take on cargo, the captain of the OLYMPIC GLORY, Athanasios Varelas, made arrangements to sell residue in the vessel's tanks — slops — to Inco Petroleum, Inc. (INCO). INCO in...
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