Fisheries
4:18 pm
Tue December 3, 2013

Bristol Bay Driftnet Permits Currently Valued at over $117-Thousand Dollars

The value of Bristol Bay driftnet permits continues to increase.

The value placed on those permits by the Commercial Fisheries Entry Commission jumped up over $14-thousand dollars to $117.2-thousand dollars. That's compared to the $102.9-thousand dollars value recorded back in October. The November figure of $117.2-thousand dollars is the largest value for Bristol Bay driftnet permits in over a year.

The Commercial Fisheries Entry Commission bases their value on the actual prices that permits are sold for but there is a lag, sometimes as much as a couple of months. A look around some of the brokerage sites shows quite a bit of variation in the prices for Bristol Bay driftnet permits. For instance Alaska Boats and Permits in Homer has 4 drift permits listed for sale with prices ranging from $140-thousandto $185-thousand dollars. Dock Street Brokers in Seattle confirms that a driftnet permit sold back in mid-October for $135-thousand dollars and they have a seller with a permit currently listed at $140-thousand dollars.

While there appears to be quite a bit of momentum for higher driftnet permit prices the same can’t be said for setnet permits in Bristol Bay. The November value placed on those permits by CFEC is $36.8-thousand dollars, which is unchanged from the value recorded back in October. That value is the lowest such value for Bristol Bay setnet permits in the last year. Alaska Boats and Permits in Homer has 2 setnet permits listed. One has an asking price of $43-thousand dollars and the second has an asking price of $45-thousand dollars. Dock Street Brokers has 2 setnet permits listed at $46-thousand dollars each. They have other Bristol Bay setnet permits listed with prices from $80-thousand to $120-thousand dollars. However, those permits come with sites and, in a couple of instances, gear.

Bristol Bay driftnet vessels waiting for fishing time in the Naknek River.
Bristol Bay driftnet vessels waiting for fishing time in the Naknek River.
Credit Celeste Novak