Archive for January 10th, 2012
APL To Sell Two Container Ships
Bermuda’s APL Ltd. has today [Jan. 10] signed two memoranda of agreement for the sale of two Panamax container vessels to Diana Containerships Inc., a global shipping company specialising in owning and operating containerships. APL Ltd. provides container transportation and supply chain management services and the company is based in Hamilton.... Read more of this article
New BMA Banking Initiatives
In December 2011, the Bermuda Monetary Authority [BMA] published a Discussion Paper which represents the first step in the process of enhancing Bermuda’s current regulatory framework for banks in line with Basel III. The Basel III rules form part of the Basel Committee on Banking Supervision’s response to the weaknesses in existing international... Read more of this article
Renewed Gulf Keystone Speculation
Shares in Gulf Keystone Petroleum Ltd., the Bermuda-headquartered independent oil and gas explorer in the Kurdistan region of northern Iraq, rose to a record high on renewed speculation that the company will be sold. Shares climbed as much as 12 percent in London this morning [Jan. 10], the highest since Gulf Keystone’s listing in 2004. The stock... Read more of this article
Kane Completes First Phase Of Merger
Since its acquisition of HSBC Insurance Management [HIM] last June, independent captive insurer Kane has relocated its Bermuda operations to new premises as well as upgraded its Cayman, London and Vermont units. Completing the first phase of its integration with HIM, Kane has said the former HSBC business unit heads and their teams have been retained... Read more of this article
Beazley Signs Bob Deutsch To Board
Bob Deutsch, the founder of Bermuda-based Ironshore, has joined the board of Beazley Furlonge Ltd, the Lloyd’s managing agency that forms part of Beazley plc, as a non executive director. Mr Deutsch, 52, is a partner at GCP Capital Partners LLC, where he focuses on insurance-related investments, and served most recently as the founding CEO of... Read more of this article
ACE Approves 34% Dividend Rise
ACE Limited announced yesterday [Jan.9] that its shareholders approved a resolution at an extraordinary general meeting to increase the company’s quarterly dollar-denominated dividend by 34%, from $0.35 per share to $0.47 per share. This action amends the existing dividend resolution approved by shareholders on May 18, 2011, and will apply to the... Read more of this article
First Whales Of 2012 Photographed
Yesterday [Jan.9] Andrew Stevenson captured his first photographs of humpbacks for 2012, which included a calf and a female and escort in the waters 5 miles off Bermuda. Mr Stevenson heads the Humpback Whale Project, which was founded in 2007 and researches and collect visual and acoustics data on the great sea creatures. Mr Stevenson explained that... Read more of this article
Shooting Trial Begins In Supreme Court
The trial of a man accused of attempted murder got underway yesterday [Jan.10] in the Supreme Court. 22-year-old Anwar Muhammad is charged with the shooting of Princeton Burrows in August of 2010 in Sandys parish. Mr Burrows was shot while at the junction of Middle Road in Sandys and Woodlawn Road [outside Maximart] at 3.45pm on August 23, 2010. The... Read more of this article
Minister Minors Commends Businesses
The Minister of Economy, Trade and Industry Patrice Minors commended local companies, Butterfield Fulcrum Group (BFG) and the MEF Group for their “demonstrated commitment to hiring Bermudians and supporting the local economy.” Recently Butterfield Fulcrum announced that it’s currently in the process of hiring 12 new employees, while... Read more of this article
Optimist World Championships Concludes
Officials from the Napier (NZ) Sailing Club were unable to complete any races yesterday [Jan.9] on the final day of the 2011 IODA World Sailing Championships due to light winds and strong currents, leaving the championship to be determined by a total of 11 Races over 9 days. Bermuda was represented in Napier, New Zealand by 5 sailors from the Bermuda... Read more of this article
Service: Order of the British Empire
Bermuda Members of the Order of the British Empire may attend a special service in the UK in March – Government House announced last night. However, Members will have to apply for a ticket by the deadline, this Friday, 13 January 2012. Her Majesty The Queen has commanded that a Service of the Order of the British Empire is to be held in St. Paul’s... Read more of this article
Video: Ship Diverts For Sick Crewmen
[Updated] The Bahamas registered ship ‘Federal Fuji’ made its way to Bermuda last night [Jan.9] to drop off two sick crew members. The vessel rendezvoused with the pilot cutter ‘St. David’ at the sea buoy where the transfer took place just before 7:00pm. The pilot boat met with the ship, transferring the two Indian nationals and bringing them... Read more of this article
