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
History of the oil tanker engines, as opposed to the older steam engines. The "Vandal", the first diesel-electric ship, was capable of carrying 750 long tons of refined oil was powered by three diesel motors. The larger "Sarmat" employed four 180 h.p. engines. The first seagoing diesel-powered tanker, 4,500 ton "Mysl", was built by Nobel's competitors in Kolomna. Nobel responded with "Emanuel Nobel" and "Karl Hagelin", 4,600 long ton kerosene tankers with engines. The 475 ft., 7-masted schooner "Thomas W. Lawson", built in 1902, was the largest purely sail tanker ever built. It carried coal, and oil in barrels from Texas to the East Coast