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
1989 Narragansett Bay oil spill 1989 Narragansett Bay oil spill On June 23, 1989, several hundred thousand gallons of fuel oil were spilled at the mouth of the Narragansett Bay in Rhode Island after the tanker MV "World Prodigy" ran aground on a reef near Aquidneck Island. "World Prodigy", a long ship operated by Ballard Shipping under the Greek flag, was inbound to Providence and Tiverton, Rhode Island when at about 16:40 local time she ran aground on Brenton Reef, about offshore from Brenton Point State Park, after passing the wrong side of a buoy marking the channel. She had a cargo of about 8.1