Latest news with #Bermuda
Yahoo
14 hours ago
- Automotive
- Yahoo
DHT Holdings, Inc. announces agreement to acquire a 2018 built VLCC
HAMILTON, BERMUDA, June 19, 2025 – DHT Holdings, Inc. (NYSE:DHT) ('DHT' or the 'Company') today announces that it has entered into an agreement to acquire a VLCC built in 2018 at Hyundai Heavy Industries (HHI), for $107 million. The vessel is scheduled to deliver towards the end of the third quarter of 2025. The acquisition will be financed through the Company's available liquidity and projected mortgage debt. The vessel was built to a high specification by its current owner and is fitted with an exhaust gas cleaning system. The acquisition will improve DHT's age profile and will further improve the DHT fleet's efficiency metrics. DHT's President & CEO, Svein Moxnes Harfjeld, comments: 'We are always looking for opportunities with the intent of improving earnings per share for our shareholders. This is a sister of vessels built by us in 2018, a design with large carrying capacity and premium earning capabilities, well suited for the trading patterns of our key customers. We believe this to be a fitting addition to our fleet, replacing some of the earnings capacity that has been divested this year, delivering into a market with attractive prospects.' About DHT Holdings, is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our wholly owned management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. For further information please visit Forward Looking StatementsThis press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as 'believe,' 'intend,' 'anticipate,' 'estimate,' 'project,' 'forecast,' 'plan,' 'potential,' 'will,' 'may,' 'should' and 'expect' and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the SEC on March 20, 2025. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements. Contact:Laila C. Halvorsen, CFOPhone: +1 441 295 1422 and +47 984 39 935 E-mail: lch@
Bloomberg
19 hours ago
- Bloomberg
Pan American Airways Is Back, But It's Not What It Seems
A small gaggle of former Pan American World Airways flight attendants stood by a window in Terminal 7 at John F. Kennedy International Airport, craning their necks and holding up phones. There were a few audible gasps and a soft cry of 'Oh gosh, there it is' as the plane came into view. Several of the women teared up as the jet finally slid past the window, its fin bearing the unmistakable cobalt-blue meatball of the Pan Am logo. The former flight attendants—and several dozen fellow passengers—were at JFK on Tuesday to board the plane, a chartered Boeing 757 that's being billed as a 'Pan Am journey by private air.' Over 12 days the plane will travel from New York to Bermuda and then on to Lisbon, Marseille, London, and Shannon, Ireland, before returning to New York City. The plane itself, which has capacity for 50 passengers, features fully reclinable lie-back seats, personal devices from which to stream entertainment options, as well as an open bar and chef-prepared meals served by attendants dressed in full Pan Am regalia. The trip cost $59,950 per person for double occupancy, $5,600 more for single occupancy.
National Post
a day ago
- Business
- National Post
Gold Reserve Announces Submission of Revised Topping Bid by Dalinar Energy for CITGO Parent Company
Article content PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (' Gold Reserve ' or the 'Company') announces that today its Delaware subsidiary, Dalinar Energy Corporation (' Dalinar Energy '), submitted a revised topping bid to be selected as the Final Recommended Bid for the purchase of the shares of PDV Holding, Inc. (' PDVH '), the indirect parent company of CITGO Petroleum Corp., pursuant to the sales process being conducted by the U.S. District Court for the District of Delaware (the ' Court '). Dalinar Energy submitted an initial topping bid on June 3, 2025 as announced here. Article content Dalinar Energy looks forward to continuing to work with the Special Master appointed by the Court to operate the sale process, and Dalinar Energy may further revise its bid prior to Special Master submitting his final recommendation to the Court on July 2, 2025. Article content Article content Dalinar Energy's revised bid is supported by a consortium that, as with its prior bids, includes judgment creditors senior to Gold Reserve in the Court's priority waterfall — Rusoro Mining Ltd., Koch Minerals Sarl and Koch Nitrogen International Sarl. Dalinar Energy's revised bid relies on a combination of equity and debt financing. The revised bid is supported by a lending consortium that includes three leading financial institutions, which fully supported the revised bid by providing final debt commitment papers indicating 100% commitment. Article content The revised bid, if approved by the Court, and consummated, would satisfy, in cash or non-cash consideration, the attached judgments of all waterfall creditors senior to Gold Reserve. The revised bid also would satisfy a substantial percentage of Gold Reserve's attached judgment. Article content Terms of the revised bid will remain confidential until the Special Master appointed to operate the sale process reviews all bids and makes his final recommendation to the Court. The Court is scheduled to hold a sale hearing starting on August 18, 2025, and in connection therewith rule on any objections to the Special Master's final recommendation. Article content Consummation of the revised bid, if selected and approved by the court, is subject to closing conditions and regulatory approvals, including but not limited to approval by the U.S. Department of Treasury' s Office of Foreign Assets Control (' OFAC '). Article content A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings. Article content Cautionary Statement Regarding Forward-Looking statements Article content This release contains 'forward-looking statements' within the meaning of applicable U.S. federal securities laws and 'forward-looking information' within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve's and its management's intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as 'anticipates', 'plan', 'continue', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'may', 'will', 'potential', 'proposed', 'positioned' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to the Bid. Article content We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto and that the Special Master may reject the Bid at any time; the Special Master may choose not to recommend a Final Bid to the Court; the failure of the Company to negotiate the Bid, including as a result of failing to obtain sufficient equity and/or debt financing; that Bid submitted by the Company will not be selected as the 'Final Recommend Bid' under the Bidding Procedures, and if selected may not close due to the Sale Process not being completed, including as a result of not obtaining necessary regulatory approvals to close on the purchase of the PDVH shares, including but not limited to any necessary approvals from OFAC, the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith); the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors' judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company's September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company's claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. For a more detailed discussion of the risk factors affecting the Company's business, see the Company's Management's Discussion & Analysis for the year ended December 31, 2024 and other reports that have been filed on SEDAR+ and are available under the Company's profile at Article content Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under applicable rules promulgated by the applicable Canadian provincial and territorial securities laws. Article content Article content Article content Article content
CBS News
2 days ago
- CBS News
Pan Am returns to JFK Airport with flight commemorating Southern and Northern Trans-Atlantic routes
Pan Am left an incredible mark on aviation history, and on Tuesday there was a rare opportunity for history to repeat itself. For more than 60 years, Pan American World Airways, also known as Pan Am, took its passengers to new limits. On Tuesday, there was a commemorative flight out of John F. Kennedy International Airport that paid tribute to one of the world's great airlines. Complete with Pan Am logos, the private charter jet took off on a 12-day journey, tracing the legendary Southern and Northern Trans-Atlantic routes. Passengers will be making stops in Bermuda and throughout Europe. With everything included, such as 5-star hotels, the nostalgic trip costs $60,000 per person. Organizers are also now putting together another trip that will be 21 days, called "Tracing the Trans-Pacific," which will cost $95,000 per person. Flight attendants mark the different eras with what they wear Officials are making the experience as immersive as possible. The entire aircraft is configured with all business class lie-flat seating, and flight attendants are dressed in replicas of the original Pan Am uniforms. "It's such an honor and a privilege to be stepping into this uniform," flight attendant Anna Maria Aevarsdottir said. "We hope we can embrace the grace that they showed America." Each of the flight attendants is representing a different time frame. "I am wearing the galaxy gold and my colleagues are wearing the Super Jet Blue," Aevarsdottir said. The uniforms are something Anita Mathewson knows all about. She was once a flight attendant for Pan Am. She was on hand Tuesday to relive those glory days, but this time as a passenger with her two daughters. "It was a wonderful time in my life. Pan Am was beautiful," said Mathewson, of Norfolk, Connecticut. "Pan Am was about the airline, but it was more about the people. It was the people and the experiences," added Linda Freire, chair of the Pan Am Museum. The trip is a full-circle moment for one family One of the many pilots behind Pan Am's rise to fame was the father of Sheryl Slyter and Louise Koch. "When we were kids, he always brought back stuff from different countries that he visited," Koch said. Now, it's their turn to see those same places their dad flew thousands to and from, since they're passengers on the first commemorative Pan Am jet. "Knowing he was with the flying boats and all the places we are going, that he flew into," Slyter said.
Graziadaily
3 days ago
- Lifestyle
- Graziadaily
Everyone Stylish Is Wearing These Abercrombie Shorts – And They're In Stock
Now that outdoor temperatures have risen considerably, you may find yourself facing a sartorial dilemma: how to choose an outfit that's both incredibly chic and comfortable enough to withstand the heat. While you may opt for a pair of linen trousers or an airy midi skirt in a bid to keep cool and comfortable, there is one alternative that nails the balance between style and practicality with unfussy polish, and that is a pair of Bermuda shorts. It shouldn't come as a surprise that knee-length Bermuda shorts have begun to dominate the fashion pack, given their endorsement on the spring runways of Miu Miu and Dries Van Noten, not to mention the rise and rise of denim jorts. Naturally, the trend has filtered down to the high street, with brands like Massimo Dutti and COS offering their own takes on the silhouette. Our favourite iteration so far? The Abercrombie & Fitch Mid Rise Bermuda Short, crafted from a mid-weight fabric fit for the summer months. And the fashion crowd has fallen for them - hard. 1. Mid Rise Bermuda Short - Black Few Bermuda shorts look as chic as this tailored pair - classic black, no less. Style them with a matching black leather belt featuring a gold buckle for a bold statement, or opt for silver hardware for a more subtle touch that complements any outfit. Typically popular in clean-cut cottons, washed blue denim and leather, the Abercrombie shorts have taken a slightly more tailored approach - made from suiting-style fabric that has the feel of formal trousers, while maintaining a relaxed wearable silhouette. Available in two colours: a sleek black (which has unsurprisingly been selling out at record speed) and ash, a stone, light grey-beige hue that lends itself to a plethora of capsule wardrobe staples, including longline waistcoats and striped shirts. There's great news for anyone who prefers to stick to linen - there's a lightweight, soft version available to shop, too. They're the same style, same cut and same length as the originals, but this version comes in a crisp white shade that's perfect for the beach (paired with a matching linen shirt) or for evenings out with an Aperol in hand. For a nighttime look, opt for whimsical lace blouses or flirty asymmetrical strapless tops. As for footwear? Footbed sandals like Birkenstocks are ideal for daytime, while mule kitten heels will truly elevate the outfit once the sun goes down. 2. Mid Rise Linen-Blend Bermuda Short - White Alternatively, opt for the linen version in a crisp, cool white - perfect for beach holidays where heavy materials just won't do and beach-friendly outfit formulas are a must. Pair it with linen shirts for an effortlessly cool and comfortable look on hot days. Whichever version you choose, shop them quick before they sell out. We suspect they'll fly off the virtual shelves, as sizes are already dwindling in all colours, in both linen and non-linen. Shop the rest below. 3. Mid Rise Bermuda Short - Ash For a lighter take on the tailored favourite, opt for the Bermuda shorts in ash - perfect when paired with black tops featuring casual-cool cap sleeves or cotton boxy tees for a laid-back yet polished look. 4. Mid Rise Linen-Blend Bermuda Short - Black Shop the black linen shorts if you're looking for a cropped linen staple that looks as good as it feels - especially when your commute includes a stifling tube journey. Lightweight and breathable, they'll keep you comfortable all day long. Image credit: @marthawr and @saroop.k.s and @leahwashyp Emma Richardson is a fashion commerce writer for Grazia. She was previously a fashion and beauty commerce writer for Heat and Closer, and has contributed digital content for a variety of lifestyle brands. Emma finds much of her inspiration in celebrity style, with Sienna Miller often being a major influence, and loves a pair of ballet pumps and a trusted trench coat .
