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
History of the oil tanker smaller ULCCs, these ships are sometimes given the "V-Plus" size designation. In February 2008, their owners announced plans to convert "TI Africa" and the "TI Asia" into stationary floating storage and offloading units to be placed in the Al Shaheen oilfield near Qatar in late 2009. With the exception of the pipeline, the tanker is the most cost-effective way to move oil today. Worldwide, tankers carry some annually, and the cost of transportation by tanker amounts to US$0.02 per gallon at the pump. The first open register was Panama in 1916. Fear for political instability and high and excessive consular