Notorious oil tanker Exxon Valdez headed to India

23 Mar

On March 24, 1989, millions of gallons of crude oil spewed into Alaska’s Prince William Sound when the Exxon Valdez ran onto rocks, coating the shoreline with oil and killing nearly 40,000 birds and other animals. The spill caused incalculable environmental damage and demolished the fishing industry in the area.

Texas-based Exxon Mobil (XOM) spent $900 million paying restitution in a 1991 settlement and is still battling litigation from the spill.

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The tanker moved on, with five name changes since the spill and ownership changing repeatedly, apparently to keep the ship in use while distancing it from the disaster.

Best Oasis official Gaurav Mehta said his company bought the ship. It’s now a converted ore carrier known as the Oriental Nicety, but he did not disclose its current location and status.

“I can confirm that Best Oasis has bought the tanker, but can give no details till we take delivery of it,” Mehta said.

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The ship is 26 years old, not significantly aged for a tanker, but it has been considerably damaged. It was split by rocks in the Alaska spill and was damaged in a collision in the South China Sea in 2010.

Hong Kong-based Best Oasis is a wholly owned subsidiary of Priya Blue Industries in the western state of Gujarat.

India has one of the world’s largest industries for breaking down old ships and oil tankers in the town of Alang, along the Gulf of Cambay in Gujarat.

 

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http://www.usatoday.com/money/industries/energy/story/2012-03-23/exxon-valdez…

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