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Bank Sees Alaska Crabbers Holding Off on Investment - Undercurrent News

November 22, 2016

Peoples Bank Lender Curtis Arnesen talks to Undercurrent News about Alaska Crabbing, the uncertainty of this season, and the how 2017 looks brighter.

by Jason Smith | Undercurrent News

SEATTLE, Washington -- A lender to Alaskan crabbers and salmon fishermen believes those sectors are holding off on new investments right now even though the prospects for 2017 look brighter.

Speaking to Undercurrent News at Seattle's recent Pacific Marine Expo, Curtis Arnesen of Washington state's Peoples Bank said that years of difficult salmon seasons have caused fishermen to be extra cautious.  

“We’re seeing less new vessel construction although we are financing a handful of new salmon boats right now. That goes along with crab right now too. The TACs (total allowable catches) are down, there’s a lot of uncertainty and probably even pessimism about whether there will be a bairdi season this year,” he said. Read More..