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
Oil tanker but can be made from new-built hulls Shell España first used a tanker as an FPSO in August 1977. An example of a FSO that used to be an oil tanker is the "Knock Nevis". These units are usually moored to the seabed through a spread mooring system. A turret-style mooring system can be used in areas prone to severe weather. This turret system lets the unit rotate to minimize the effects of sea-swell and wind. Oil spills have devastating effects on the environment. Crude oil contains polycyclic aromatic hydrocarbons (PAHs) which are very difficult to clean up, and last