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
Sanchi oil tanker collision Sanchi oil tanker collision The Sanchi oil tanker collision occurred on 6 January 2018 when the Panamanian-flagged, Iranian-owned tanker , with a full natural-gas condensate cargo of 136,000 tonnes (960,000 barrels), sailing from Iran to South Korea, collided with the Hong Kong-flagged cargo ship off Shanghai, China. "Sanchi" caught fire shortly after the collision; after burning and drifting for over a week, it sank on 14 January. None of "Sanchi"s 32 crew members survived. The crew of the "CF Crystal" was rescued and the ship made port in China. The financial damage of the sinking of "Sanchi", based on NIOC