Bermuda, Bermuda
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Outerbridge M.E.,Government of Bermuda | O'Riordan R.,University College Cork | Fort D.J.,Fort Environmental Laboratories | Davenport J.,University College Cork
Marine Pollution Bulletin | Year: 2016

Total petroleum hydrocarbons, PAH and various trace metal residues were extracted and analyzed from fresh whole diamondback terrapin (Malaclemys terrapin) eggs, whole brackish-water gastropods (terrapin prey) and benthic sediment from anchialine pond environments in Bermuda inhabited by terrapins. Gastropods and terrapin eggs showed higher concentrations of trace metals and organic contaminants than sediments. Conversely, PAHs were mostly found within the sediment and smaller amounts detected in gastropods and terrapin eggs. Results indicated that contaminants in prey were transferred to terrapin eggs, and that concentrations of several contaminants exceeded potentially toxic concentrations for aquatic vertebrates. Necropsy of unhatched eggs from nests that had yielded viable hatchlings showed significantly compromised embryonic development. Bermudian diamondback terrapins reside and feed in brackish wetland habitats characterized by widespread, multifactorial contamination. This study suggests that environmental contamination plays a role in the recorded low hatching success in terrapin eggs in Bermuda. © 2015 Elsevier Ltd.


Dewailly E.,Environment Canada | Rouja P.,Government of Bermuda | Forde M.,St. George's University | Cote S.,Environment Canada | And 3 more authors.
PLoS ONE | Year: 2012

Objectives: To assess the efficacy of a public health intervention to reduce blood mercury (Hg) concentration levels in pregnant Bermudian women. Methods: In 2003, we conducted a study entitled "Prenatal exposure of the Bermudian Population to Environmental Contaminants" which provided Bermuda's first baseline data on prenatal exposure to several environmental contaminants, including Hg. The mean Hg concentration from 42 healthy newborns measured in umbilical cord blood was 41.3 nmol/L, ranging from 5-160 nmol/L. This concentration was much higher than expected, being approximately 8 times the general levels found in Canada and the U.S. Furthermore, we estimated that 85% of total Hg measured was in the form of methylmercury (MeHg), indicating that seafood consumption was the primary source of Hg exposure during pregnancy in Bermuda. Locally sourced seafood was identified as the most significant possible contributory source of Hg exposure. In 2005 the authors began a complementary research programme to study the levels of Hg in local commercial fish species. Coming out of this research were specific local fish consumption guidelines issued by the Department of Health advising pregnant women to avoid those local fish species found to be high in Hg while still encouraging consumption of fish species having lower Hg levels. Results: In 2010, under another research initiative, we returned to Bermuda to carry out another evaluation of Hg in human blood. Hg was measured in the blood of 49 pregnant women. The arithmetic mean Hg blood concentration was 6.6 nmol/L and the geometric mean 4.2 nmol/L. The maximum concentration found was 24 nmol/L. Conclusions: Hg exposure of Bermudian pregnant women has dropped significantly by a factor of around 5 since the foetal cord blood study in 2003. © 2012 Dewailly et al.


PubMed | Government of Bermuda, Fort Environmental Laboratories and University College Cork
Type: Journal Article | Journal: Marine pollution bulletin | Year: 2016

Total petroleum hydrocarbons, PAH and various trace metal residues were extracted and analyzed from fresh whole diamondback terrapin (Malaclemys terrapin) eggs, whole brackish-water gastropods (terrapin prey) and benthic sediment from anchialine pond environments in Bermuda inhabited by terrapins. Gastropods and terrapin eggs showed higher concentrations of trace metals and organic contaminants than sediments. Conversely, PAHs were mostly found within the sediment and smaller amounts detected in gastropods and terrapin eggs. Results indicated that contaminants in prey were transferred to terrapin eggs, and that concentrations of several contaminants exceeded potentially toxic concentrations for aquatic vertebrates. Necropsy of unhatched eggs from nests that had yielded viable hatchlings showed significantly compromised embryonic development. Bermudian diamondback terrapins reside and feed in brackish wetland habitats characterized by widespread, multifactorial contamination. This study suggests that environmental contamination plays a role in the recorded low hatching success in terrapin eggs in Bermuda.


News Article | December 15, 2016
Site: www.businesswire.com

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has withdrawn Bank of N.T. Butterfield & Son Ltd.'s (BNTB) preferred stock rating following BNTB's mandatory redemption of its 8% preferred stock on December 15. BNTB's senior and subordinated ratings are unaffected by today's action. Fitch is withdrawing BNTB's preferred stock rating as the preferred stock issuance no longer exists following its full redemption by BNTB. Fitch's 'A+' preferred stock rating reflects the unconditional guarantee provided by the Government of Bermuda. The Ministry of Finance agreed to guarantee the principal and dividends for up to 10 years on the company's preferred stock when it was issued in 2009. This action follows the sale of BNTB's common shares on the New York Stock Exchange in September for which the stated use of proceeds included refinancing of the company's 8% preferred stock. Please refer to Fitch's Sept. 20, 2016 Non-Rating Action Commentary entitled "No Immediate Impact on Butterfield's Ratings Following Offering of Common Shares" for additional detail. Fitch is withdrawing Butterfield & Son Ltd.'s preferred stock rating as the issuance no longer exists. Rating sensitivities are no longer relevant given today's rating withdrawal. Fitch has withdrawn the following ratings: Additional information is available on www.fitchratings.com ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEB SITE AT WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. 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News Article | December 3, 2016
Site: www.marketwired.com

CANCUN, MEXICO--(Marketwired - Dec. 3, 2016) - Canada is taking action in the conservation and long-term protection of marine biodiversity. At the recent Convention on Biological Diversity at the Conference of the Parties (COP13), the Honourable Dominic LeBlanc, Minister of Fisheries, Oceans and the Canadian Coast Guard, announced a new initiative that will facilitate meeting Canada's marine conservation targets, and another that demonstrates Canada's commitment to ensuring the long-term viability of the Sargasso Sea, a globally significant marine ecosystem. The Minister announced, on behalf of the Honourable Catherine McKenna, Minister of Environment and Climate Change, the proposed establishment of Scott Islands marine National Wildlife Area (NWA), the first under the Canada Wildlife Act. This area is home to over two million seabirds, making it the highest concentration of seabirds as well as the most important nesting and breeding ground for seabirds in British Columbia. Minister LeBlanc discussed additional ways Canada will achieve meeting its international targets to increase the amount of marine and coastal areas that are protected to 5% by 2017 and 10% by 2020. Canada's plan consists of advancing work in areas progressing towards establishment, such as the proposed Lancaster Sound National Marine Conservation Area, and several proposed Oceans Act Marine Protected Areas, including Hecate Strait and Queen Charlotte Sound Glass Sponge Reefs, Laurentian Channel and Banc des Américains. The Minister also highlighted progress achieved for the designation of St. Anns Bank for which stakeholder input will be sought in the near future. Finally, Minister LeBlanc signed the 'Hamilton Declaration on Collaboration for the Conservation of the Sargasso Sea'. The Sargasso Sea, located near Bermuda, provides habitat, spawning areas, migration pathways and feeding ground to a diverse range of flora and fauna, including some endangered and commercially important species. The Convention focused on actions to ensure the conservation, sustainable use, management, and restoration of biological diversity and ecosystems. While at the Convention, the Minister also continued discussions with his international counterparts on other effective area-based conservation measures and the need for science-based decision making. "Conservation and protection of marine environments is important for aquatic biodiversity and the fisheries sector. Our Government is taking concrete steps to reaching our international targets for protecting our marine and coastal areas. The proposed designation of Scott Islands marine National Wildlife Area is a great example of effective ocean management and marine conservation. The Department of Fisheries and Oceans has developed science-based guidance to help us determine other effective area-based conservation measures. I look forward to working with my provincial counterparts on these important initiatives, and to hearing the views of Canadians on how the proposed regulations assure the protection of identified key species and habitats." - The Honourable Dominic LeBlanc, Minister of Fisheries, Oceans and the Canadian Coast Guard "I am delighted that Scott Islands marine National Wildlife Area will be the first marine National Wildlife Area in Canada. The area is home to 40% of all breeding seabirds in the Canadian Pacific. I look forward to working with my colleague the Minister of Fisheries, Oceans and the Canadian Coast Guard and stakeholders to hear their views on the proposed protections and how they can be improved, not only for sea birds but for other key species and habitats there and elsewhere in the ecosystem." - The Honourable Catherine McKenna, Minister of Environment and Climate Change Canada "The Sargasso Sea is the birthplace of all American and European eels. We have a regulated eel fishery in the Maritime Provinces, and it's therefore important that Canada works with other nations in the protection of this unique habitat. I heartily applaud the Honourable Dominic LeBlanc, Minister of Fisheries, Oceans and the Canadian Coast Guard, for leading Canada in becoming a signatory to the Hamilton Declaration in order to collaborate with other nations to preserve this important ecosystem." "I am delighted that Canada will participate in the stewardship of this unique and vitally important marine environment. As a tri-coastal country, Canada has extremely valuable experience that will be a great asset to the Sargasso Sea conservancy effort." - Government of Bermuda Minister of the Environment, The Hon. N. Cole Simons, JP, MP. Canada Signs the 'Hamilton Declaration on Collaboration for the Conservation of the Sargasso Sea' The Sargasso Sea, located near Bermuda, is a unique, high-seas marine ecosystem. The ecologically and biologically significant area is unique because it is an area of open ocean bounded on all sides by the clockwise flow of major ocean currents. The area is named for the Sargassum seaweed - a holopelagic, golden drift algae that forms extensive floating mats on the surface of the ocean. This unique ecosystem is home to a wide range of species, including several identified for protection. It provides habitat, spawning areas, migration pathways, and feeding groups to a diverse range of flora and fauna, including some endangered and commercially important species. The majority of the ecosystem lies beyond national jurisdictions. The 'Hamilton Declaration on Collaboration for the Conservation of the Sargasso Sea' was first signed in Hamilton, Bermuda on March 11, 2014. The Declaration resulted in the creation of the Sargasso Sea Commission, which includes a number of international signatories, including Bermuda, United Kingdom, United States of America, and Monaco, as well as collaborating partners, such as the International Union for the Conservation of Nature (IUCN), the World Wildlife Fund (WWF), and Dalhousie University Marine and Environmental Law Institute, working together to protect the area. The Commission uses the best available scientific research to better understand the unique ecosystem and support efforts to conserve and protect the Sargasso Sea. The Government of Canada remains committed, both domestically and internationally, to conserving and protecting precious marine environments. Signing the Declaration ensures the long-term viability of the globally significant Sargasso Sea ecosystem. The area plays an important role in the wider North Atlantic ecosystem, serving as habitat, foraging and spawning grounds and as a migratory corridor for many species important to Atlantic Canada. The mats formed by the Sargassum algae are home to many species and provide a protective 'nursery' for juvenile fish and turtles. The area is considered the primary spawning ground for American eel, which then migrates to freshwater and is harvested commercially in shore-based fisheries on Canada's Atlantic coast. Most recently, in the summer of 2016, Fisheries and Oceans Canada conducted oceanographic and seabed research in the area as part of a scientific expedition from Nova Scotia to Bermuda. The proposed Scott Islands Protected Marine Area, also known as the Scott Islands marine National Wildlife Area (NWA), located off the northern tip of Vancouver Island, will be the first protected marine area established under the Canada Wildlife Act. The establishment of the NWA will increase marine protection in Canada by 11,546 km2, and would enable effective long-term conservation of the highest concentration of breeding seabirds in the Canadian Pacific, as well as many other marine species, including species listed under the Species at Risk Act. The area sustains 90 percent of Canada's Tufted Puffins, 95 percent of Pacific Canada's Common Murre, 50 percent of the world's Cassin's Auklets and 7 percent of the global population of Rhinoceros Auklet. The surrounding waters provide key feeding habitat for the birds that nest on the islands, and also attract an additional 5-10 million migratory birds annually that may travel vast distances across the Pacific to feed on the abundance of small fish and zooplankton in the area. The Government of Canada committed to establishing the proposed Scott Islands marine NWA in Budgets 2007 and 2013. Environment and Climate Change Canada (ECCC) is leading the establishment process, and target date for publication in Canada Gazette, Part I of the proposed Scott Islands Protected Marine Area Regulations is December 2016. Establishment of the Scott Islands NWA, along with the implementation of conservation measures via the Regulations, would prevent activities from occurring in the marine National Wildlife Area that would threaten the vitality of the Scott Islands as important habitat for seabirds. The prohibition against fishing for Pacific sand lance, Pacific saury and North Pacific krill will be of benefit to the many marine species that feed on these fish, not just the seabirds. Establishment of the marine NWA will allow for an enhanced focus on monitoring and research in order to meet the conservation objectives for the area, the main one being to conserve migratory seabirds. The establishment of the Scott Islands marine National Wildlife Area will complement existing provincial protected area designations for the five islands that make up the Scott Islands archipelago.


van Beukering P.,VU University Amsterdam | Sarkis S.,Government of Bermuda | van der Putten L.,Social and Sustainability Innovation | Papyrakis E.,VU University Amsterdam | Papyrakis E.,University of East Anglia
Ecosystem Services | Year: 2015

Although Bermuda has to date managed to achieve equilibrium between tourism and coral reef conservation, this delicate balance may be threatened by the growth and changing face of the tourism industry. This may result in negative impacts on the coral reefs and services provided by this valuable ecosystem. The reef-associated value to Bermuda's tourism industry was determined, distinguishing between the added value of cruise and air tourism. Economic valuation techniques used were the travel cost method, the net factor income method, and the contingent valuation method. Results show that coral reef value to tourism in Bermuda provides an average annual benefit of US$406 million. Although, cruise ship tourism has been responsible for more than half of the total number of visitors in Bermuda, cruise ship tourist expenditures directly benefiting the island's economy amount to only 9% of air passenger expenditures. Moreover, the producer surplus for air visitors is twofold that of cruise ship passengers. Despite this low added value of cruise ship tourism in Bermuda, there is a strong drive to accommodate the ever-larger ships built by the cruise industry. Several options have been proposed for the upgrading and re-aligning of existing shipping channels to enable safe and smooth passage these may lead to environmental impacts, which may in turn affect reef-associated tourism revenue to the island. This study recommends the integration of Bermuda's coral reef value into Cost Benefit Analyses of proposed channel upgrades compared to the "business as usual" scenario. © 2014 Elsevier B.V.


Eddy C.,University of Massachusetts Dartmouth | Pitt J.,Government of Bermuda | Morris J.A.,National Oceanic and Atmospheric Administration | Smith S.,Bermuda Natural History Museum | And 2 more authors.
Marine Ecology Progress Series | Year: 2016

As a generalist and opportunistic predator, lionfish (Pterois volitans and P. miles) consume large quantities of juvenile reef fish and invertebrates, as well as the adults of small-bodied species. To better understand the impacts of these fishes upon invaded coral reef ecosystems, we describe the feeding habits of invasive lionfish in Bermuda based on stomach contents analysis, and the influence that environmental factors have on their diet via spatial and temporal changes in prey availability. Relative to other regions throughout the northwestern Atlantic, lionfish in Bermuda consume a greater proportion of crustaceans, and their diet appears to rely upon the relative abundance of available prey species. A poorly-known crustacean, the red night shrimp Cinetorhynchus rigens, is the species of greatest importance to the diet of Bermuda lionfish. Currently, herbivorous fishes do not make a major contribution to their diet, although the lionfish frequently target both ecologically (e.g. bluehead wrasse Thalassoma bifasciatum) and economically important species (e.g. Atlantic creolefish Paranthias furcifer). © C.E., J.P., S.S., G.G.-G., D.B., and the USA Government 2016.


HAMILTON, Bermuda--(BUSINESS WIRE)--The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”) (NYSE: NTB) (BSX: NTB.BH) announced on 15 December 2016 that it completed the mandatory redemption of its 8.00% Non-Cumulative Perpetual Limited Voting Preference Shares par value USD $0.01 per share (“Preference Shares”). All shareholders of record of the Preference Shares as of 1 December 2016 were issued a make-whole redemption payment of $1,180 per Preference Share on 15 December 2016, comprising the sum of the most recent dividend per Preference Share, the net present value of future dividend payments that would have been paid through 22 June 2019 and the $1,000 liquidation preference on each Preference Share, discounted for present value. The Preference Shares have been cancelled and the Bank has requested a delisting of the Preference Shares from the Bermuda Stock Exchange and the Euro MTF market of the Luxembourg Stock Exchange, which it expects to be formalised imminently. The redemption will also result in the discontinuance of $16.4 million in annual payments by Butterfield for Preference Share dividends and the guarantee fees payable to the Government of Bermuda, which will be accretive to earnings going forward. The Bank also announced that it has repurchased for fair value a warrant to purchase 432,028 common shares from the Government of Bermuda. The warrant was issued to the Government of Bermuda in June 2009 pursuant to the Preference Shares Guarantee Agreement. The warrant has been cancelled. Certain of the statements made in this news release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, without limitation, statements about our future earnings following the redemption of the Preference Shares. Forward-looking statements reflect our current beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Bank to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements due to a variety of factors, including worldwide economic conditions, success in business retention and obtaining new business and other factors. All statements other than statements of historical fact are statements that could be forward-looking statements. These forward-looking statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words, phrases and expressions of the future. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our Securities and Exchange Commission (“SEC”) reports and filings including, but not limited to, our prospectus dated 15 September 2016, filed with the SEC in accordance with Rule 424(b) of the Securities Act of 1933. Such reports are available upon request from the Bank, or from the SEC, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Butterfield is specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda, and the Cayman Islands, encompassing retail and corporate banking and treasury activities. The Group variously provides private banking, asset management, investment advisory, residential property lending and personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the Cayman Islands, Guernsey, Switzerland and the United Kingdom. Butterfield also provides services to corporate and institutional clients from offices in Bermuda, The Bahamas, the Cayman Islands and Guernsey, which include asset management and trust services. Butterfield is publicly traded on the New York Stock Exchange. Butterfield’s share price on the New York Stock Exchange is available on Bloomberg Financial Markets (symbol: NTB). Butterfield is also publicly traded in Bermuda, and its shares are listed on the Bermuda Stock Exchange. Butterfield’s share price in Bermuda is published daily in The Royal Gazette (www.theroyalgazette.com) and is also available on Bloomberg Financial Markets (symbol: NTB BH) and the Bermuda Stock Exchange website (www.bsx.com). Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com.


Van Beukering P.,VU University Amsterdam | Sarkis S.,Government of Bermuda | van der Putten L.,Social and Sustainability Innovation | Papyrakis E.,Anglia
Ecosystem Services | Year: 2014

Although Bermuda has to date managed to achieve equilibrium between tourism and coral reef conservation, this delicate balance may be threatened by the growth and changing face of the tourism industry. This may result in negative impacts on the coral reefs and services provided by this valuable ecosystem. The reef-associated value to Bermuda's tourism industry was determined, distinguishing between the added value of cruise and air tourism. Economic valuation techniques used were the travel cost method, the net factor income method, and the contingent valuation method. Results show that coral reef value to tourism in Bermuda provides an average annual benefit of US$406 million. Although, cruise ship tourism has been responsible for more than half of the total number of visitors in Bermuda, cruise ship tourist expenditures directly benefiting the island's economy amount to only 9% of air passenger expenditures. Moreover, the producer surplus for air visitors is twofold that of cruise ship passengers. Despite this low added value of cruise ship tourism in Bermuda, there is a strong drive to accommodate the ever-larger ships built by the cruise industry. Several options have been proposed for the upgrading and re-aligning of existing shipping channels to enable safe and smooth passage; these may lead to environmental impacts, which may in turn affect reef-associated tourism revenue to the island. This study recommends the integration of Bermuda's coral reef value into Cost Benefit Analyses of proposed channel upgrades compared to the "business as usual" scenario. © 2014 Elsevier B.V.


Copeland A.,Government of Bermuda | Edinger E.,Memorial University of Newfoundland | Devillers R.,Memorial University of Newfoundland | Bell T.,Memorial University of Newfoundland | And 2 more authors.
Journal of Coastal Conservation | Year: 2013

This paper presents an approach that allows production of benthic substrate and habitat maps in fjord environments. This approach is used to support the management of the Gilbert Bay Marine Protected Area (MPA) in southeastern Labrador, Atlantic Canada. Multibeam sonar-derived bathymetry, seabed slope, and acoustic reflectance (backscatter) were combined using supervised classification methods and GIS with ground-truthed benthic sampling in order to derive maps of the substrates and main benthic habitats. Six acoustically distinct substrate types were identified in the fjord, and three additional substrate types without a unique acoustic signature were recognized. Ordination by multidimensional scaling and analysis of similarity generalized these to four acoustically distinct habitat types. Greatest within-habitat (alpha) diversity was found in the coralline-algae encrusted gravel habitat. Greatest between-habitat (beta) diversity was found in the management Zones 1 and 2, which have the highest level of protection. The study confirmed that the zoning plan for the MPA, which was designed to protect spawning and juvenile fish habitat for a local genetically distinct population of Atlantic cod, afforded highest levels of protection to areas with highest habitat diversity. © 2011 Springer Science+Business Media B.V.

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