Author Archive: Bernews1

Teekay Tankers Orders Four LR2 Tankers

Bermuda-based Teekay Tankers Ltd. announced today [Apr.8] that it has entered into an agreement with STX Offshore & Shipbuilding Co., Ltd., of South Korea for the construction of four, fuel-efficient 113,000 dead-weight tonne [dwt] Long Range 2 [LR2] product tanker newbuildings for a fully built-up cost of approximately $47 million each. The agreement... Read more of this article

Global Pension Funds Bullish On Cat Bonds

Global pension funds are increasingly turning to specialist catastrophe bonds — a field where Bermuda currently has an edge — that bet on the likelihood of a natural disaster in a search for yield and returns that are not correlated to the rest of the market, the Reuter news service reports today [Apr. 8]. What was once considered an exotic... Read more of this article

Erica Woods Receives Spirit Of Service Award

Bermuda’s Erica Woods received the C-USA Winter Spirit of Service Award recently, after being selected by Marshall University based on her philanthropic and outreach work. The C-USA Spirit of Service Award is designed to recognize the community service efforts of the league’s student-athletes, based upon significant community service, good academic... Read more of this article

Former Prime Minister Margaret Thatcher Dies

[Updated] Former British Prime Minister Margaret Thatcher — dubbed “The Iron Lady” by the Soviet Union for her ferocious opposition to communism in the 1970s and ’80s — has died at the age of 87, the BBC reports this morning [Apr. 8]. She paid two well-publicised visits to the island — the first as Prime Minister... Read more of this article

PLP Constituency #18 Host Annual Seniors Tea

The PLP Branch for Pembroke West Central [Constituency #18] held their Second Annual Seniors Tea at the Pembroke Community Club on Saturday [Apr 6]. Forty seniors from the local community enjoyed a programme featuring refreshments, a variety of door prizes, and a surprise performance from Shine Hayward. A special award was given to the oldest person... Read more of this article

Amlin “Underperform” Rating Reaffirmed

Stock in Amlin plc — which operates a major Bermuda reinsurance platform — had its “underperform” rating reiterated by investment analysts at Bank of America in a note issued to investors today [April 8], StocKRatingsNetwork.com reports. They currently have a $5.91 target price on the stock. Amlin been the subject of a number of other... Read more of this article

Czech Finance Minister On Tax Avoidance

The Czech Republic has lost billions of crowns a result of companies moving their domiciles to overseas jurisdictions including Bermuda, Finance Minister Miroslav Kalousek said in discussion programme “Partie” ["The Match"] on the Prague television yesterday [Apr. 7]. But the conservative politician said such corporate tax avoidance strategies... Read more of this article

Tucker’s Town Historical Society Meeting

A public meeting will be held this week to consider the next steps regarding the historic Tucker’s Town graveard issue. Organised by the Tucker’s Town Historical Society, the meeting will take place at Harrington Workmen’s Club on Harrington Sound Road, Smith’s Parish next to Devil’s Hole on Tuesday [Apr. 9] from 7 pm to 9 pm. “In... Read more of this article

PLP To Host Town Hall Meeting On Tuesday

The Progressive Labour Party has invited residents of Warwick to a Town Hall Meeting on Tuesday, April 9 at Warwick Workman’s Club. Starting at 7:00pm, the meeting will feature Party Leader and Warwick South Central MP Marc Bean, Shadow Minister of Finance David Burt, Shadow Minister of Education Walton Brown and Shadow Minister of Transport... Read more of this article

Weekend News, Photos, Videos, Links & More

This past weekend saw footballers Nahki Wells and Antwan Russell both score goals in the UK, high winds cause over 800 customers to temporarily lose power, the Devonshire Cougars win the FA Cup, another super yacht grace our shores, St George’s receive its first cruise ship visit of the year and more. Links to our weekend coverage are below, please... Read more of this article

Samsung TV, Modem & Router Stolen In Burglary

A police spokesperson said, “At 11 this morning police attended a residence of Skyline Road in Smith as a result of a breaking and entering. “Upon police arrival, officers spoke to the complainant who stated that someone had gained entry in her dwelling and made off with 27’inch Samsung flat screen TV and Remote, a Wi-Fi router and modem,... Read more of this article

First Cruise Ship Visit Of 2013 For St George’s

[Updated with video] The Wind Star sailed into the east end of Bermuda this evening [Apr 7] with an estimated 144 guests and 88 crew on board. The four-masted 440ft long vessel has 73 guest cabins and over 10,000 square feet of open deck space. Previously scheduled to arrive earlier today, the Wind Star’s delayed arrival marks the first cruise... Read more of this article