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07/29/16

Morning Headlamp - No losses for ConocoPhillips in Alaska, yet

Fingers crossed. ConocoPhillips reported $54 million in adjusted earnings in Alaska last quarter, according to an earnings report filed Thursday. ConocoPhillips also reported that the major producer took in $1.1 billion in losses globally Alaska was one of three markets where the company reported earnings — along with its Europe and North Africa, and Asia Pacific and Middle East segments — while reporting losses in the Lower 48, Canada and other international operations. Headlamp hopes that this stroke of luck can continue for Alaska in the face of anti-industry policy.   A foreign-owned tanker is expected to transport North Slope crude to Asia in the coming weeks. BP has shipped its oil overseas before, but it's been decades since it was on a tanker built...

Posted at 10:52 AM | Permalink | Comments

A COW at The Arctic Thunder Air Show?

07/29/16

A COW at The Arctic Thunder Air Show?

More than 100,000 people are expected to descend on the Joint Base Elmendorf-Richardson this weekend for the Arctic Thunder 2016 Air Show.  They will make calls and send texts to meet up with family and friends, take photos, shoot video, check in on social media networks, and much more from their smartphones.      AT&T has taken steps to make sure it is up to the task of managing a huge influx of network traffic from calls and data use in an area that typically has 100,000 less people on the network.  AT&T has deployed a COW to the Joint Base Elmendorf-Richardson, not the hay-chewing variety but a “Cell site On Wheels.”  A COW temporarily enhances wireless coverage and capacity in a specific area to better manage high volumes of...

Posted at 10:24 AM | Permalink | Comments

07/28/16

Diversified economy, state fiscal plan are key to Anchorage economy

Anchorage economic indicators are cause for both optimism and concern heading into the next few years, according to the 3-Year Economic Outlook released Wednesday by the Anchorage Economic Development Corp. at its 3-Year Outlook Luncheon.    Compiled by the McDowell Group, an Alaska research firm, and sponsored by Weidner Apartment Homes, the outlook report analyzes interviews with representatives of businesses and organizations in multiple sectors. It also takes into account current events, as well as economic and business activity indicators in order to understand how business conditions will affect economic growth for the next three years.    AEDC anticipates a 0.5 percent population drop in 2016, a decrease of about 1,500 residents. A population decrease of...

Posted at 05:47 PM | Permalink | Comments

07/28/16

Alaskanomics Blog: Anchorage Economic Development Corporation 3-Year Outlook

The Anchorage Economic Development Corporation (AEDC) hosted its annual 3-Year-Outlook Luncheon on Wednesday. In recent months, many have expressed concern about the future of the economy in Anchorage. There has been worry that it is a repeat of the crash of the 1980’s and many are wondering if it is time to abandon ship and leave Anchorage. AEDC President and CEO Bill Popp assured the audience that while we are seeing a drop in the economy, we are in a much better place than the mid-80’s and it is not time to panic.   He started his presentation with notes about the past year and first half of 2016. There has been a marked shift in the housing market in Anchorage. For the past four years it has been a seller’s market, but we are now firmly in a...

Posted at 05:36 PM | Permalink | Comments

Middle school students build Rube Goldberg Machines, design solar boats at ANSEP STEM Career Explorations sessions

07/27/16

Middle school students build Rube Goldberg Machines, design solar boats at ANSEP STEM Career Explorations sessions

ANCHORAGE, ALASKA – The Alaska Native Science & Engineering Program (ANSEP) recently hosted more than 100 middle school students from across the state for its third and fourth STEM Career Explorations components. Following two earlier summer sessions devoted to health sciences and unmanned aerial vehicles (UAV), the third STEM Career Explorations component focused on engineering and the fourth on energy.   For both sessions, students flocked to the University of Alaska Anchorage (UAA) where they lived on campus and dove into a particular STEM field of interest and experienced hands-on activities. During the engineering session, students participated in a Rube Goldberg activity led by STEM industry professionals where they were divided into teams and tasked with...

Posted at 12:18 PM | Permalink | Comments

07/27/16

Extra Edition: A new Japanese LNG Strategy that includes Alaska?

TOKYO -- The Japanese government plans to encourage private-sector businesses to buy overseas resource companies, many of which now look cheaper amid an oil slump.   The Japan Oil, Gas and Metals National Corp., or Jogmec, can invest in special-purpose companies that handle development projects but is not allowed to purchase stakes in their parents. Legislative revisions under consideration will lift this restriction, enabling the government-backed entity to invest in foreign resource companies together with domestic businesses.   The Ministry of Economy, Trade and Industry will present the changes as early as this autumn's extraordinary Diet session.   Low oil prices have caused investment in oil and gas fields to stagnate worldwide. The government...

Posted at 12:09 PM | Permalink | Comments

Matson Logistics To Acquire Span Alaska

07/27/16

Matson Logistics To Acquire Span Alaska

-     Span Alaska is a market leading provider of LCL freight consolidation and forwarding services to Alaska -     Cash transaction valued at $197.6 million, no assumption of debt -     Transaction expected to be $0.10 to $0.12  accretive to annual EPS, excluding one-time costs -     Matson enters into agreement for $200 million 15-year Senior Unsecured Notes at 3.14% Fixed Rate HONOLULU, Hawaii, July 18, 2016 /PRNewswire/ -- Matson, Inc. ("Matson;" NYSE: MATX)  today announced that its subsidiary Matson Logistics, Inc. ("Matson Logistics") and Span Alaska have entered into a definitive agreement pursuant to which Matson Logistics will acquire 100% of the equity of Span Alaska...

Posted at 10:55 AM | Permalink | Comments

Alaskanomics's Blog: June 2016 Unemployment

07/27/16

Alaskanomics's Blog: June 2016 Unemployment

Unemployment Rate Remains at 6.7 Percent in June   By Mark Edwards   According to preliminary Federal Department of Labor estimates, June was actually a good month and Alaska employment was 0.4% higher than June of 2015.  June of 2016 had 359,400 jobs (rounded) vs. 358,200 at June of last year.  The best estimate we have at this time for 2016 would be to average the employment numbers for January to June and then compare that to the average of the first six months of 2015.  January, February and June had more jobs in 2016 and March, April and May were stronger in 2015.  The six month average of jobs was 335,350 in 2015 and 334,917 in 2016.  This is an average of 433 few jobs this year or 0.1% less.  With statistical revision coming...

Posted at 10:42 AM | Permalink | Comments

5 Bites of Salmon from The Salmon Project

07/27/16

5 Bites of Salmon from The Salmon Project

Here is your weekly snack-sized salmon treat, with tasty morsels from all across the state.     The Journey Home  Kristin Vantrease was born into the Salmon Life, but it took a coming of age journey around the world for her to realize where she belonged — right back in her home stream. Read Kristin's award-winning story of venturing out and finding her way home   Better Than Candy When it comes to salmon, we're a little like Bubba in Forrest Gump — or so says Megan Edge in a new KTVA Harvesting Alaska piece.  Check out her story and get two yummy recipes   Video of the Week: Wolf Hunter We find ourselves eating, sleeping, and dreaming salmon at this time of year. It turns out, we're not the only...

Posted at 10:34 AM | Permalink | Comments

07/27/16

BP second quarter 2016 results

Draws a line under Deepwater Horizon liabilities at $61.6 billion. Strong operations and cash flow. Underlying replacement cost profit $720 million. Underlying operating cash flow $5.5 billion. Further progress in resetting costs and capital. Clear plans for growth New wave of Upstream major project start-ups delivering growth to 2020. Capacity to sustain Upstream growth beyond 2020 into long-term. Downstream resilience and access to growth markets. Dividend unchanged for September payment. BP today reported that profit for the second quarter of 2016 was $720 million on an underlying replacement cost basis1, compared with $532 million for the previous quarter and $1.3 billion for the second quarter of 2015. Underlying...

Posted at 10:23 AM | Permalink | Comments

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