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Wednesday, 21 March 2012

Exxon Valdez sold for scrap

Tanker which caused the worst oil spill in the USA sold for scrap
The former "Exxon Valdez" has been sold for scrap 23 years after causing the worst tanker spill in U.S. history.

The now renammed "Oriental Nicety" was sold for about $16 million, Maryland-based Global Marketing Systems Inc., the world's biggest cash buyer of ships for demolition, reported on Mar 16, 2012.

The ship was converted into an ore carrier in 2007 and changed owners and names four times since 1989 when the spill dumped 11 million gallons of oil in Alaska's Prince William Sound. It's still the country's largest leak from a tanker, and it led to the U.S. requirement for ships to have two hulls. Exxon Mobil Corp., the largest U.S. oil company, still faces litigation from the spill. The Irving, Texas-based company spent three years and $3.86 billion to clean up the spill, which damaged 700 miles of coastline and killed more than 36,000 birds, according to the Environmental Protection Agency.

Exxon agreed in 2009 to pay $470 million in interest on a $507.5 million judgment won by local victims, including fishermen and small businesses, in addition to a $900 million civil settlement. Last month, a judge ruled that U.S. and Alaskan governments could pursue further damage claims.

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