Exxon Valdez to Be Junked Years After Worst Spill

Tuesday, March 20, 2012

The Exxon Valdez has been sold for scrap 23 years after causing the worst tanker spill in U.S. history, which led to new designs for oil carriers.

Now called the Oriental Nicety, the vessel was sold for about $16 million, said Maryland-based Global Marketing Systems Inc., the world’s largest cash buyer of ships for demolition.


Converted into an ore carrier in 2007, it changed owners and names four times since the 1989 accident, American Bureau of Shipping records show.


The spill, which dumped 11 million gallons of oil into Alaska’s Prince William Sound, was the largest in U.S. waters until the 2010 accident at BP Plc.’s Macondo oil well in the Gulf of Mexico. 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.


“The accident pointed out that the biggest risk involved in oil transport is the impact an accident can have on the environment,” said Thomas Zwick, an analyst at Oslo-based shipping consultant Lorentzen & Stemoco AS. “Large companies can go under as a consequence of the financial liabilities bestowed upon them following an accident.”


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.


In 2009, Exxon agreed 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.


The Oil Pollution Act of 1990 required owners to phase out single-hulled ships. All but 18 of the world’s 560 operating supertankers are now double-hulled, according to data compiled by Bloomberg. (Bloomberg)


 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Evergreen Upgrades its Intra-Asia Service Network

Evergreen Line announced it will partner with Mariana Express in launching a joint South China- East Malaysia (SEM) Service. The new initiative will give a boost

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

Fogal Retires from Zentech After 57 Years in O&G

Robert “Bob” “Sonny” Fogal, Jr., one of the icons in the offshore oil and gas industry, has decided to retire from front-line work as Zentech’s Director of Business Development.

Shipbuilding

Chloropac Anti-Fouling Selected for Largest Decommissioning Vessel

Allseas Group S.A., a global offshore pipe installation and subsea construction company, has selected Evoqua Water Technologies’ Chloropac electrochlorination system

SENER Announces the FORAN V70R3.0

SENER announces the new FORAN V70R3.0, available from July 31, 2014. With more than 45 years in the market, FORAN takes advantage of SENER´s innovative development

MN 100: Eastern Shipbuilding Group, Inc.

13300 Allanton Road Panama City, FL 32404 Tel: (850) 522-7400  Email: info@easternshipbuilding.com Website: www.easternshipbuilding.com President: Brian

Tanker Trends

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

Joe Barton: Lift Oil Export Ban

A senior U.S. Congressman from Texas has come out in full support of the United States lifting the 40-year old ban on crude oil exports, putting him at odds with

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Environmental

Ballast Water Leadership

Admiral Paul Zukunft, the new U.S. Coast Guard Commandant, could fill the BWT leadership void. Global efforts to combat the spread of invasive species in ballast

BSEE Conducts Oil Spill Response Equipment Review

Earlier this week, BSEE's Oil Spill Response Division (OSRD) conducted an onsite review of oil spill response equipment listed in DCOR, LLC's Oil Spill Response Plan for platforms offshore Long Beach,

Polar Code Afoot

The IMO is on the verge of adopting the Polar Code, something that is important and long overdue. The International Maritime Organization (IMO), a specialized agency of the United Nations,

News

Evergreen Upgrades its Intra-Asia Service Network

Evergreen Line announced it will partner with Mariana Express in launching a joint South China- East Malaysia (SEM) Service. The new initiative will give a boost

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

Fogal Retires from Zentech After 57 Years in O&G

Robert “Bob” “Sonny” Fogal, Jr., one of the icons in the offshore oil and gas industry, has decided to retire from front-line work as Zentech’s Director of Business Development.

Maritime Safety

Challenging the Myths of Pirate Violence

“In the last five years, pirates have killed at least 411 fishermen and wounded at least 1,000 more, suggested Mujibur Rahman, Chairman of Cox’s Bazar District

SCI Sets Its Sights on Scandinavia

Survival Craft Inspectorate (SCI), a global provider of emergency marine evacuation systems, has appointed two new distributors as the business targets growth opportunities in Scandinavia.

Firefighting at Sea Training Launched

Fighting a fire at sea is one of the greatest dangers facing seafarers. As a result, Videotel, a provider of maritime e-Learning and part of KVH Industries, Inc.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2479 sec (4 req/sec)