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 for years in the sediment and marine environment. Marine species constantly exposed to PAHs can exhibit developmental problems, susceptibility to disease, and abnormal reproductive cycles. By the sheer amount of oil carried, modern oil tankers can be a threat to the environment. As discussed above, a VLCC tanker can carry of crude oil. This is about eight times the amount spilled in the widely known "Exxon Valdez" incident. In this spill, the ship ran aground and dumped of oil into the ocean in March 1989. Despite efforts of scientists, managers, and volunteers over 400,000 seabirds, about 1,000 sea otters, and