American Shipper

Alaska Railroad earnings dip in 2006

Alaska Railroad earnings dip in 2006

Alaska Railroad Corp. reported earnings of $10.4 million in 2006, down from $12.7 million in 2005.

   Revenue for 2006 increased to $148.9 million, from $144.0 million in 2005.

   “The Alaska Railroad had another solid year,” said Bill Sheffield, the former governor of Alaska who chaired the Alaska Railroad Board during 2006. “Safety, infrastructure and technology comprised the focus of our planned investments this year and we met most of our ambitious goals in each area.”

   For the first time, the railroad issued tax-exempt revenue bonds. The state-owned corporation is self-sustaining, without benefit of state subsidy.

   In 2006, the Alaska Railroad moved more than 7.6 million tons of freight over 525 miles of track. It operates between Seward and Whittier in the southern part of the state to Fairbanks and Elison Air Force Base in Central Alaska.