Valdez, Alaska The original town site was dismantled and abandoned. From 1975 to 1977, the Trans-Alaska pipeline was built to carry oil from the Prudhoe Bay oil fields in northern Alaska to a terminal in Valdez, the nearest ice-free port. Oil is loaded onto tanker ships for transport. The construction and operation of the pipeline and terminal boosted the economy of Valdez. The 1989 "Exxon Valdez" oil spill occurred as the oil tanker "Exxon Valdez" was leaving the terminal at Valdez full of oil. The spill occurred at Bligh Reef, about from Valdez. Although the oil did not reach Valdez, it devastated
History of the oil tanker the English Channel. "Seawise Giant" was renamed "Happy Giant" in 1989, "Jahre Viking" in 1991. From 1979 to 2004 she was owned by Loki Stream, at which point she was bought by First Olsen Tankers, renamed "Knock Nevis" and converted into a permanently moored storage tanker. The Batillus class supertankers are the biggest ships ever constructed by gross tonnage. Although the tanker fleet increased around 12 percent annually around 1970, a shortage on tonnage remained. In 1973 this resulted in an enormous increase in new building orders, especially from oil majors that wanted to gain on the quicker deciding independents,