A few million for Yukon salmon failure?

The Senate Appropriations Committee yesterday included $5 million in a spending bill as disaster relief for the poor Chinook salmon runs on the Yukon River in 2008 and 2009.

Sen. Mark Begich, D-Alaska, had asked the committee leadership for up to $10.8 million "for assistance to residents of the Yukon River drainage."

This potential aid outlay follows up Commerce Secretary Gary Locke's disaster declaration back in January.

Just how the $5 million would be divvied up, assuming that's the amount the full Congress ultimately appropriates, remains an open question.

Off they go!

A 12-hour season opener starts at 7 this morning for Copper River gillnetters.

And so begins another summer of salmon in Alaska.

Good fishing and be safe, everybody.

Herring time at Togiak

With big schools of fish spotted in the area, fishery managers opened the Togiak herring sac roe fishery at 6 p.m. today. Gillnet boats are free to fish "until further notice," while seiners can fish for 76 hours, the Department of Fish and Game said. ADF&G photo

Upper Cook Inlet king fishery to stay closed

Here's an announcement from the Alaska Department of Fish and Game canceling commercial fishing periods for Chinook salmon in part of Upper Cook Inlet.

Big boat in the village?

Deckboss is somewhat dismayed that Coastal Villages Region Fund has yet to put out a public statement about its business split from that big, Seattle-based fishing company, American Seafoods.

But I notice that Coastal, evidently, has relocated already the enormous pollock factory trawler it acquired in the divorce.

According to Coastal's handsomely redesigned website, the home port for the 341-foot Northern Hawk is now Chevak, a Cup'ik Eskimo village of about 920 people in the Yukon-Kuskokwim Delta.

Chevak, of course, is one of 20 villages Coastal represents under the federal Community Development Quota program.

'Herring are showing now'

Here's a 1 p.m. update from the Alaska Department of Fish and Game on the pending Togiak herring sac roe fishery:

May 10, 2010

Herring are showing now

This is the Alaska Department of Fish and Game in Dillingham with an update regarding the Togiak herring fishery.

Department staff flew an aerial survey of the Togiak District today. Weather conditions were poor with low overcast and turbid water in some areas. We did observe many large schools of herring entering the district, but no herring were seen in the shallow areas of bays. We had a water temperature report of 38 degrees from Anchor Point this morning. The fleet is building and there are several dozen vessels in the district.

Weather permitting, we will survey the district on Tuesday, May 11, in the afternoon and try and document the threshold biomass.

Six companies have registered for the Togiak herring fishery.

Informational updates are available by calling our recorded message line at (907) 842-5226.

American completes refinancing, Coastal buyout

This just in from American Seafoods:

May 10, 2010

American Seafoods Completes Refinancing and Buyout of Significant Equity Holder

SEATTLE (BUSINESS WIRE) — American Seafoods today announced it completed a refinancing of all the outstanding debt of American Seafoods Group LLC and ASG Consolidated LLC, the direct parent of American Seafoods Group. Concurrent with the refinancing, the Company redeemed the entire ownership interest of a significant equity holder, Coastal Villages Region Fund.

The company refinanced ASG Consolidated's high yield bonds and American Seafoods Group's senior credit facility, significantly extending the maturities on its debt.

"The refinancing represents a significant accomplishment for the company," said Bernt O. Bodal, CEO of American Seafoods. "The fact that we were able to complete a transaction like this in a difficult economic environment is a testament to the strong support of our lending partners and the stellar reputation the company enjoys among the financial community."

Also, in connection with the refinancing, American Seafoods redeemed all of the outstanding equity interests of Coastal Villages in exchange for the pollock catcher-processor Northern Hawk, the freezer-longline vessels Lilli Ann, North Cape and Deep Pacific and certain fishing rights. The completion of the buyout results in Bodal and the rest of the management team increasing their ownership to over 70 percent of the company. As part of the buyout, American will provide management and marketing services to Coastal Villages — enhancing its revenue opportunities over the next few years.

"The buyout offers a terrific opportunity for all of the continuing owners of American Seafoods to increase their ownership stake and positions us well for the long-term growth of the company," Bodal said.