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Bermuda-based oil shippers are seeing their income rocket as oil tanker rates surge. Increased production in Saudi Arabia and Iraq, as well as relatively low oil prices encouraging major buyers like China to hoard crude, are driving a spike in demand...

Bermuda-domiciled oil tanker operator Nordic American Tanker (NAT) reported that rates for hiring its vessels plunged in the second quarter of this year — but it expects a rebound in the current quarter. NAT said rates achieved for its trading fleet ...

Ocean Wilsons — a Bermuda-based holding company listed on the Bermuda Stock Exchange (BSX) which runs shipping and port services in Brazil — saw its 2013 operating profit soar by 40 percent to $119 million. That number is a tenth higher than forecast...

Bermuda-based Frontline Ltd, the world’s largest operator of supertankers, reported its first quarterly profit in a year, after charter rates for the ships rose. First-quarter net income was $7.18 million, or nine cents a share, compared with a fourt...

LONDON (Bloomberg) Bermuda-based Frontline Ltd, the oil-tanker owner that announced a restructuring plan 10 days ago, said a new company that it intends to form completed a private sale of shares that raised $285 million. Frontline, rose almost 11 pe...