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
Aegean Sea tanker oil spill Aegean Sea tanker oil spill The "Aegean Sea" tanker oil spill was a spill that occurred on 3 December 1992 when the double-bottomed Greek-flagged oil tanker, "Aegean Sea", en route to the Repsol refinery in A Coruña, Spain, suffered an accident off the Galician coast. The ship had successfully passed all required tests and revisions. The accident occurred during extreme weather conditions and affected the Galician coast resulting in ecosystem damage, as well as damage to the fishing and tourist industries in A Coruña. The captain and pilot were found to be criminally liable and the shipowner took on much