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
Architecture of the oil tanker be phased out by 2010 at the latest, depending on the year of delivery. With MARPOL tankers, it is not allowed to use ballast tanks as cargo tanks. This has reduced operational spillage drastically. The downside is designs based on MARPOL spill more oil when damaged than a preMARPOL tankers. This is due to several factors: These small tanker will also be phase out by 2010. After the "Exxon Valdez" disaster, public outcry became so strong that authorities were forced to come with preventive measures. Especially the double hull design was favoured and although this is not the best design