Fisheries
11:40 am
Fri October 4, 2013

The Value of Bristol Bay Driftnet Permits Continues to Increase

The value of Bristol Bay driftnet permits is increasing according to information from the State of Alaska. The Alaska Commercial Fisheries Entry Commission tracks all of the sales of fishing permits in Alaska and monthly they produce a permit value report. The September report puts the value of a Bristol Bay driftnet permit at $100.7-thousand dollars. That’s up from the $95.5-thousand dollars permit value recorded back in August.

The September value of $100.7-thousand dollars for a Bristol Bay driftnet permit is the largest value in the last year and well above the 12-month low of $87.4-thousand dollars recorded back in December of last year. The value put on a permit by CFEC really has very little bearing on what an individual permit can sell for. For instance Dock Street Brokers in Seattle has a Bristol Bay driftnet permit listed for sale for $135-thousand dollars and they report that a sale is pending for another permit at $130-thousand dollars. They report that another permit was sold back in early September at $125-thousand dollars. Yet another sale is apparently pending for a drift permit at $135-thousand dollars. Alaska Boats and Permits in Homer reports that a drift permit was sold last month at $125.5-thousand dollars. They have 4 other Bristol Bay driftnet permits listed for sale at prices ranging between $135-thousand to $185-thousand dollars. Permit Master in Anacortes has one Bristol Bay driftnet permit for sale with an asking price of $150-thousand dollars.

While the value of Bristol Bay driftnet permits seems to be going up the same trend doesn’t appear to be occurring in regards to Bristol Bay setnet permits. The value placed on those permits in the September CFEC report is $37.3-thousand dollars. That’s down from the $39-thousand dollar value recorded back in August. The September value is the lowest value for a Bristol Bay setnet permit in the last year. The highest value was recorded back in October of last year at $42.2-thousand dollars.

A look at some of the permit brokerage sites shows a tremendous amount of variability in the asking prices for Bristol Bay setnet permits. For instance Dock Street Brokers in Seattle has 2 setnet permits listed for sale at $46-thousand dollars each. There’s another permit listed for $37-thousand dollars. Another permit that includes sites along the Egegik River and fishing gear is listed for $95-thousand dollars. Yet another permit that includes sites and gear is listed at $120-thousand dollars. Alaska Boats and Permits has 2 Bristol Bay setnet permits listed at prices ranging between $43-thousand to $45-thousand dollars.

The latest permit value report from CFEC shows some big changes in several other permits types in Alaska. For instance the value placed on a Prince William Sound purse seine permit is $176.9-thousand dollars. That’s up from the $154.3-thousand dollar value recorded back in August. The value placed on Prince William Sound setnet permits increased up to $82-thousand dollars last month from the $61-thousand dollar value recorded every month over the last year. You can take a closer look at the lasts fishing permit values on the website of the Alaska Commercial Fisheries Entry Commission.

Bristol Bay driftnet vessels stored in Clarks Point.
Credit Celeste Novak