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
Milford Haven Waterway first oil terminal and oil refinery in 1960; unfortunately this coincided with a serious oil-spill from "Esso Portsmouth", the first oil tanker to unload there. Since then, there have been numerous spills of varying magnitude, providing the port authority with a great deal of experience. Uniquely at the time, the harbourmaster instituted the principle of cleaning up first and allocating the blame (and the responsibility of paying for it) later. There are two large oil refineries nearby which represent one fifth of the United Kingdom's oil refining capacity. In 1978 the tanker "Christos Bitas" ran aground off the Haven, spilling