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 least two independent methods for tank-gauging. As the tanker becomes full, crew members open and close valves to direct the flow of product and maintain close communication with the pumping facility to decrease and finally stop the flow of liquid. The process of moving oil off of a tanker is similar to loading, but has some key differences. The first step in the operation is following the same pretransfer procedures as used in loading. When the transfer begins, it is the ship's cargo pumps that are used to move the product ashore. As in loading, the transfer starts at low