(a)  The owners, operators, and/or their agents of any tank vessel, as defined in 33 U.S.C. § 2701(34), which transports petroleum products for commercial purposes entering the waters or waterways of this state and transporting any petroleum product shall possess a valid certificate of financial responsibility issued by the U.S. Coast Guard or for vessels less than three hundred (300) gross tons, or other evidence of financial responsibility in accordance with the federal Oil Pollution Act §§ 1004 and 1016, 33 U.S.C. §§ 2704 and 2716, as evidence of financial responsibility applicable to payment of any judgment entered on behalf of the state of Rhode Island or any person aggrieved pursuant to the provisions of chapter 12.3 of Title 46. Any tank vessel entering waters or waterways of this state without such valid certificate of financial responsibility or, for vessels less than three hundred (300) gross tons, without evidence of financial responsibility in accordance with the federal Oil Pollution Act §§ 1004 and 1016 shall be fined not more than one hundred thousand dollars ($100,000) or twice the amount required to rectify any environmental damage caused by the vessel, whichever is greater.

(b)  The provisions of this section shall not be construed to apply to the owner or operator of a terminal facility situated within the state, which has no ownership interest in the tank vessel merely because the terminal is the destination of the vessel.

(c)  The department of environmental management is hereby authorized to promulgate rules and regulations necessary to implement the provisions of this section.