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Author: Saira

Transportation

Transportation

Maersk finished Arctic test run The container shipper Maersk Line has completed a test voyage across Russia’s Northern Sea Route, or NSR, with its Venta Maersk, one of its smaller container ships (3,600 container capacity). The voyage was a test run to assess the idea of Arctic shipping, and not intended to be a start of regular service, Maersk said. Some competitors like China’s Cosco has sent about a dozen general cargo ships across NSR but not a container ship….

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Economy

Economy

Here are the numbers for Alaskans’ annual fall rite: Moose hunting The fall moose hunt is a time-honored Alaska tradition, but how much meat does the annual rite put in the freezer? And how much money is spent? Ned Rozell, science writer at the University of Alaska Fairbanks’ Geophysical Institute, cites studies showing that 29,000 Alaskans and nonresidents harvest about 7,200 moose yearly, and assuming each of these 1,600-pound animals yields 700 pounds of sliced and wrapped meat, totaling about…

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Timber

Timber

Mat-Su timber project on hold; China flap is blamed A promising project to harvest mainly damaged timber in the Matanuska-Susitna Borough is on hold because of the U.S.-China trade spat, officials with the timber company have told the borough. The problem is the tariff that China would impose on timber imported from Alaska, which is a response to tariffs on Chinese imports ordered by President Donald Trump. Borough officials had hoped the project would bring in about $900,000 a year…

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Permanent Fund dividends hit the streets

Permanent Fund dividends hit the streets

$940 million roll into bank accounts; cash registers jingle About $940 million rolled into Alaskans’ bank accounts Oct. 4 with the state’s 2018 Permanent Fund dividend electronic deposits. This set cash registers ringing around the state, mainly in retail stores. Payments subsequently made by check will bring the total to over $1 billion. About 640,000 Alaskans will receive the PFDs this year, state officials said. Beefing up the dividend is being promised by both major candidates for governor this year….

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Broadband consumer costs in rural Alaska could be cut

Broadband consumer costs in rural Alaska could be cut

Plan for new Alaska telecom satellite; contracts near Alaska-based Pacific Dataport, Inc. is close to final agreements for a plan to launch a geostationary communications satellite positioned to cover all of Alaska. The new satellite could cut consumer costs for broadband Internet in rural communities to the 65 cents-per-gigabyte range, the company hopes, a bargain compared with prices typically in the $2.50-per-gigabyte range for existing consumer internet service using terrestrial-based systems, including fiber-optic. Although the 65 cents price is aimed…

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Governor’s race – stakes are high

Governor’s race – stakes are high

Republican Dunleavy said to have edge It is eight days until the November election and the street talk is the Alaska governor’s race is Republican Mike Dunleavy’s “to lose,” meaning unless there’s an unexpected upset Dunleavy is likely to prevail over Democrat Mark Begich. Gov. Bill Walker’s surprise withdrawal from what was a three-way race (in which Dunleavy was still favored) has only seemed to solidify the Republican’s lead because Begich is unlikely to capture enough of Walker’s independent voters….

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Riding higher oil prices and POMV; Alaska’s finances look up

Riding higher oil prices and POMV; Alaska’s finances look up

Caution raised, however, on new use of Permanent Fund earnings With some luck – and higher oil prices – Alaska’s budget deficit may be significantly smaller than forecast this year. The state could even see a balanced budget. The newly-enacted Senate Bill 26 is in effect this year, bringing $2.7 billon of Permanent Fund earnings into the state general fund. About $1.7 billion of this will be available for the budget, with the remaining $1 billion spent for the $1,600…

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Fisheries

Fisheries

Salmon season wraps up Alaska’s 2018 summer salmon fishery is about wrapped up. The harvest will be well below the preseason forecasts due to unexpected timing of some runs, which disrupted fishing. Sockeye catches are coming in on target at about 50 million fish but pink and silver harvests are below expectations. Bristol Bay had its second-best sockeye harvest, however. Fall fisheries pick up statewide With summer over the state’s busy fall fisheries are getting underway. Harvesters in Southeast are…

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Minerals

Minerals

Pogo Mine sold by Sumitomo Australia-based Northern Star Resources Ltd. is purchasing the producing Pogo gold mine east of Fairbanks from Sumitomo Metal Mining Co. and Sumitomo Corp., two Japanese companies that developed and owned the mine. A sales price of $260 million was confirmed. The deal is expected to close in October. Pogo has been a very successful undertaking, overcoming obstacles in developing an underground mine in a remote location north of Delta in 2006. The mine produces about…

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Petroleum

Petroleum

Latest Nenana Basin well is dry Tough break for Doyon and Cook Inlet Region, partners in the latest well in the Nenana Basin, Totchaket #1. The well is 20 miles north of the city of Nenana. Drilling to 11,225 feet was completed July 5, but no commercial oil or gas was found. In its monthly newsletter to shareholders CIRI said, “While Totchaket #1 did not discover commercial quantities of gas or oil, the well encountered multiple gas shows and CIRI…

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