Alaska Gov. Mike Dunleavy recently signed into law legislation that gives the Alaska Railroad Corp. (ARRC) the ability to issue up to $135 million in revenue bonds.
Bonds will be used to fund the construction of a new passenger dock and terminal facility in Seward. The existing dock and terminal are near the end of their useful life and must be replaced in order to continue to be able to receive cruise ships.
The 2025 cruise season will use the existing dock. When the season ends, the old dock will be demolished. A new floating barge dock with double-berth pier will be constructed and installed in time for the 2026 summer cruise season. It will have the capacity to accommodate Quantum class cruise ships.
“The existing dock has driven economic activity for decades but is at the end of its useful life,” Bill O’Leary, Alaska Railroad president and CEO, said. “House Bill 65 will allow the railroad to make an investment in replacing this public infrastructure that will be paid for by the private industry it serves, and bring economic benefits to communities across Southeast, Southcentral and Interior Alaska as we ensure cross-Gulf cruise ships can continue to dock in Seward.”