FDIC told regional banks to consider client relief
On June 2, the Federal Deposit Insurance Corp. issued Filing 27-2023 to provide regulatory relief to financial institutions and facilitate recovery in areas of Guam affected by Typhoon Mawar. The FDIC acknowledged the unusual circumstances faced by affected financial institutions and encouraged those institutions to work with impacted borrowers to, among other things “extend repayment terms; restructure existing loans; or ease terms for new loans,” provided the measures are done “in a manner consistent with sound banking practices.”
Additionally, the FDIC noted that financial institutions “may receive favorable Community Reinvestment Act consideration for community development loans, investments, and services in support of disaster recovery.”
First post-typhoon MilCon recovery work awarded
H2O Guam JV of Aiea in Hawaii was awarded a $138.45 million firm-fixed-price contract for a Special Project RM 14-1423 to repair Mike and November wharves at Naval Base Guam and Apra Harbor. Work is expected to be completed by July 2026.
The contract was procured via the sam.gov website, with three offers received. Naval Facilities Engineering Systems Command Marianas made the award.
Guam typhoon recovery updates:
IT&E: As of June 9, 77% of cell sites are operational. Generators continue to be deployed at cell sites in areas where local power is not available. IT&E customer discounts: BEAM Home Internet subscribers will receive 50% off their services for June. Unlimited data is available for all Postpaid subscribers, free of charge; tethering is available for all Postpaid subscribers, free of charge. Service suspension due to nonpayment has been postponed until June 30, and finance charges and late fees have been waived for May and June.
The Guam Power Authority: As of June 9, 71% of the System Load (customer demand) was restored, with 51.4% of customers restored.
The Guam Waterworks Authority: As of June 8, GWA and GPA had 73% of wells operational. That is 87 wells total, with 41 on island power, and 46 operating on generators.
The Port of Guam:
Cement status: Port of Guam representatives met with Cementon to address Tyhoon Marwar-related damage to their facilities. Cementon is without island or generator power after its generator sustained typhoon-related damage. A generator owned by Cabras Marine Corp. was deployed to Cementon. During Cementon also presented its mitigation plans to the Port to allow the continuation of cement products into Guam.
Hanson Permanente Cement is fully operational.
Port processing: As of May 29, when the port re-opened, cargo and fuel processing included the following: 220 refrigerated containers; 1,046 dry goods containers; 972 bundles of rebar; two boxed steel pipes;35 bundle steel plates; 319 vehicles; and 66 units of general cargo; and barges and five fuel operations barges.
The Roofing Installation Support Emergency Utilization Program aims to help temporarily repair metal roofs damaged by Typhoon Mawar. The U.S. Department of Defense, U.S. Army Corps of Engineers, in coordination with the Office of the Governor, Guam Homeland Security/Office of Civil Defense, the Federal Emergency Management Agency and the Mayor’s Council of Guam, launched the program.
Guam residents who have damaged metal roofs can enroll for the program through their Mayor’s office. For more information, contact the Joint Information Center at (671) 478-0208/09/10.
Airline adds flights on Saipan route
Jeju Air has announced that it is adding a new, direct passenger air service between Busan, South Korea, and Saipan. The airline already flies two flights per day between Saipan and Seoul, and announced the addition of a third daily flight that will be in service from June 29 to July 19. The announcement follows the visit of Gov. Arnold I. Palacios of the Northern Mariana Islands the week of June 5, together with MVA Acting Chairperson Gloria C. Cavanagh, who is also the vice president of Mariana Eland; and MVA Managing Director Christopher Concepcion.
The Busan service will be evaluated, the Office of the Governor said.
Cancellations:
The Guam Micronesian Island Fair from June 23 to June 25.
On June 2, the Federal Deposit Insurance Corp. issued Filing 27-2023 to provide regulatory relief to financial institutions and facilitate recovery in areas of Guam affected by Typhoon Mawar. The FDIC acknowledged the unusual circumstances faced by affected financial institutions and encouraged those institutions to work with impacted borrowers to, among other things “extend repayment terms; restructure existing loans; or ease terms for new loans,” provided the measures are done “in a manner consistent with sound banking practices.”
Additionally, the FDIC noted that financial institutions “may receive favorable Community Reinvestment Act consideration for community development loans, investments, and services in support of disaster recovery.”
First post-typhoon MilCon recovery work awarded
H2O Guam JV of Aiea in Hawaii was awarded a $138.45 million firm-fixed-price contract for a Special Project RM 14-1423 to repair Mike and November wharves at Naval Base Guam and Apra Harbor. Work is expected to be completed by July 2026.
The contract was procured via the sam.gov website, with three offers received. Naval Facilities Engineering Systems Command Marianas made the award.
Guam typhoon recovery updates:
IT&E: As of June 9, 77% of cell sites are operational. Generators continue to be deployed at cell sites in areas where local power is not available. IT&E customer discounts: BEAM Home Internet subscribers will receive 50% off their services for June. Unlimited data is available for all Postpaid subscribers, free of charge; tethering is available for all Postpaid subscribers, free of charge. Service suspension due to nonpayment has been postponed until June 30, and finance charges and late fees have been waived for May and June.
The Guam Power Authority: As of June 9, 71% of the System Load (customer demand) was restored, with 51.4% of customers restored.
The Guam Waterworks Authority: As of June 8, GWA and GPA had 73% of wells operational. That is 87 wells total, with 41 on island power, and 46 operating on generators.
The Port of Guam:
Cement status: Port of Guam representatives met with Cementon to address Tyhoon Marwar-related damage to their facilities. Cementon is without island or generator power after its generator sustained typhoon-related damage. A generator owned by Cabras Marine Corp. was deployed to Cementon. During Cementon also presented its mitigation plans to the Port to allow the continuation of cement products into Guam.
Hanson Permanente Cement is fully operational.
Port processing: As of May 29, when the port re-opened, cargo and fuel processing included the following: 220 refrigerated containers; 1,046 dry goods containers; 972 bundles of rebar; two boxed steel pipes;35 bundle steel plates; 319 vehicles; and 66 units of general cargo; and barges and five fuel operations barges.
The Roofing Installation Support Emergency Utilization Program aims to help temporarily repair metal roofs damaged by Typhoon Mawar. The U.S. Department of Defense, U.S. Army Corps of Engineers, in coordination with the Office of the Governor, Guam Homeland Security/Office of Civil Defense, the Federal Emergency Management Agency and the Mayor’s Council of Guam, launched the program.
Guam residents who have damaged metal roofs can enroll for the program through their Mayor’s office. For more information, contact the Joint Information Center at (671) 478-0208/09/10.
Airline adds flights on Saipan route
Jeju Air has announced that it is adding a new, direct passenger air service between Busan, South Korea, and Saipan. The airline already flies two flights per day between Saipan and Seoul, and announced the addition of a third daily flight that will be in service from June 29 to July 19. The announcement follows the visit of Gov. Arnold I. Palacios of the Northern Mariana Islands the week of June 5, together with MVA Acting Chairperson Gloria C. Cavanagh, who is also the vice president of Mariana Eland; and MVA Managing Director Christopher Concepcion.
The Busan service will be evaluated, the Office of the Governor said.
Cancellations:
The Guam Micronesian Island Fair from June 23 to June 25.