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
Oil tanker a tank is accomplished by purging hydrocarbon vapors with inert gas until the hydrocarbon concentration inside the tank is under about 1%. Thus, as air replaces the inert gas, the concentration cannot rise to the lower flammable limit and is safe. Operations aboard oil tankers are governed by an established body of best practices and a large body of international law. Cargo can be moved on or off of an oil tanker in several ways. One method is for the ship to moor alongside a pier, connect with cargo hoses or marine loading arms. Another method involves mooring to offshore