Exxon Valdez punitive damages to the Supreme Court which capped the damages to US $507.5 million in June, 2008. On August 27, 2008, Exxon Mobil agreed to pay 75% of the US $507.5 million damages ruling to settle the 1989 "Exxon Valdez" oil spill off Alaska. In June 2009, a federal ruling ordered Exxon to pay an additional US$480 million in interest on their delayed punitive damage awards. After repairs, "Exxon Valdez" was renamed "Exxon Mediterranean", then "SeaRiver Mediterranean" in the early 1990s, when Exxon transferred their shipping business to a new subsidiary company, River Maritime Inc. The name was later shortened
Odyssey (tanker) Odyssey (tanker) Odyssey, which previously went by the name "Oriental Phoenix", was an oil tanker in operation from 1971 to November 10, 1988, when an explosion caused it to sink in the North Atlantic off the coast of Canada. The resulting spill remains one of the largest oil spills in world history. The tanker was off the coast of the Canadian province of Nova Scotia when it sank and released 132,157 tons (43 million gallons) of oil into the ocean. By way of comparison, 4.3 times as much oil was spilled by the "Odyssey" as from the much more famous