Container trade through Port Botany increased 8% in 2009/2010 financial year, with a large part of the volume driven by Asia, Ports and Waterways Minister Paul McLeay announced today.
"It’s a great result, not just for the port, but for working families across the state. More trade means more jobs," said Mr McLeay.
"Strong import demand and a resilient export sector have pushed Port Botany’s container numbers to unprecedented levels," said Mr McLeay.
"We’ve seen close to a decade’s worth of growth records for the Port – a clear indication of the strength of NSW’s economy," he said.
"Of special note is the fact that the Asia region accounts for 62% of all volume into and out of the port of Sydney.
"We’re seeing new shipping lines enter the Asian trade to capitalise on this region’s quicker rebound to the global financial crisis compared to elsewhere in the world."
Port Botany saw an 8% growth in total container trade through the port, reaching 1.928 million TEUs (containers measured as twenty-foot equivalent units) for 2009/2010.
• This equals approximately $50 billion worth of trade.
• This is the 9th consecutive annual growth record.
• Full container imports reached 951,000 TEUs, up 8.6% from 2008-09
• Demand for products imported from East Asia (46%), South East Asia (15%) and Europe (15%) was especially high.
• Full container exports reached a new record of 442,600 TEUs
The higher exports of cereals, cotton, non-ferrous metals and paper products have been the primary drivers of the growth.
"Countries such as China, New Zealand, Japan and the United states continue to be the main consumers of our local products," said Mr McLeay.
"Cereal exports (including wheat and barley) from the North West and Central West regions of NSW were up 19.1% on last financial year.
"Demand for cotton also soared with exports increasing by almost 140% in 2009/2010. ‘With results like these we can see growth is being shared across the state.
"This is why the Keneally Government is investing in infrastructure such as the $1 Billion Port Botany Expansion – so that we will be well-placed to maximize the port’s efficiency and be prepared for long-term future growth."
Media Contact: Anna Burns 9228 4777 / 0438 379 784
The U.S. Food and Drug Administration has issued notices to foreign food facilities registered with the FDA that it will conduct an inspection of those facilities between October 1, 2010 and September 30, 2011. Foreign food facilities that manufacturer, process, pack, hold, and ship food to the United States must have registered with the FDA pursuant to the Bioterrorism Act. Foreign food facilities that do not properly respond to the FDA notices will result in a detention of any food that arrives in the United States from those canceled facilities.
For the second year running Port Botany’s Container Terminal Expansion has been given the tick of approval from an audit looking at environmental and planning impacts.
Ports and Waterways Minister, Paul McLeay, today welcomed the results of the audit of the $1 billion expansion, now in its third year of construction.
“The Port Expansion project is going beyond simply meeting minimum requirements - it’s now achieving positive environmental outcomes,” said Mr McLeay.
“This proves we’re not just building a more efficient port. We’re also building a port that’s fair to the local community.
“The recent works on the enhancement of the Penrhyn Estuary, in particular, were singled out as a major improvement to this important ecosystem in Botany Bay.”
The estuary enhancements involved successfully expanding of intertidal flats and shorebird roosting islands as well as extensive saltmarsh planting.
“We viewed the retention, protection and enhancement of Penrhyn Estuary as a key part of the port expansion project, so this is a great result,” said Mr McLeay.
“Around 230,000 saltmarsh seedlings have been planted and are thriving as part of this initiative – a glowing result by any standards,” he said.
“The water conservation measures on the project are also significant. The audit found the works are using around 75 per cent less water than initially predicted.
Mr McLeay said the auditor applauded the combined efforts of Baulderstone Hornibrook Jan De Nul (BHJDN), as well as Sydney Ports Corporation, for the high level of environmental monitoring and resources dedicated to the site.
“These results make it clear it’s possible to develop port infrastructure that will cater for long term trade growth in an environmentally responsible way.
“I congratulate all those involved for delivering fair environmental outcomes for the project, the bay and the local community.”
Background Information:
• In the past 12 months construction on the Port Botany Container Terminal Expansion has seen the bulk dredging of 8 million cubic metres of sand for the new terminal area. 216 counterfort wall units have also been constructed via the use of an onsite concrete-batch plant.
• Community-enhancing work on the Foreshore Beach upgrade has also included a new four lane boat ramp, a shared cycle and pathways and a pedestrian bridge linking the foreshore to Sir Joseph Banks Park.
• The independent audit, conducted in May 2010, was carried out by JA Dickson and Associates and can be viewed here.
The Australian Logistics Council (ALC) has welcomed the bipartisan support from the Government
and Opposition for the Inland Rail Link and a study into the viability of an East Coast high speed rail
network.
ALC is the peak national body for Australia’s freight Transport & Logistics (T&L) industry. ALC aims to
influence government policy decisions to ensure that Australia has a safe, secure, reliable,
sustainable and competitive freight T&L industry.
“ALC is very pleased that Minister for Infrastructure & Transport, Anthony Albanese, yesterday
committed $20 million to conduct a feasibility study into a High Speed Rail line between Melbourne,
Sydney and Brisbane”, said the Chief Executive of ALC, Michael Kilgariff.
“We also welcome the Government’s commitment to make funding available for the planning, corridor
preservation and land acquisition necessary for the construction of the Inland Rail Link.
“The fact the Opposition has now matched these commitments demonstrates that freight T&L
infrastructure is achieving bipartisan support and recognition as ‘nationally significant infrastructure’.
“ALC supports the development of a fast rail link, which would take people off existing lines and
enable freight to move more efficiently.
“ALC is especially supportive that the first stage of the study will focus on the Newcastle - Sydney
corridor.
“The Sydney - Newcastle link has been identified as a massive freight bottle-neck because transport
of people takes precedence over freight, acting as a national economic impediment.
“ALC is also very supportive of the need to make funding available for the planning, corridor
preservation and land acquisition necessary for the Inland Rail Link from Brisbane to Melbourne
through Central-West New South Wales.
“While ALC recognises these projects need to stack up against accepted criteria, the role of NSW as
a freight corridor of national significance has been ignored in the past.
“The Melbourne – Brisbane freight corridor, be it road or rail, has not been considered a priority by
the NSW Government to fund, because the benefits are accrued nationally”, Mr Kilgariff said.
Mr Kilgariff said ALC has been advocating that nationally significant infrastructure should be judged
on the importance of the infrastructure to the national economy.
“ALC has previously endorsed the call by Infrastructure Australia Chairman Rod Eddington for a
national approach to the planning and management of ports and freight movement”, Mr Kilgariff said.
“The function of the National Freight Network Plan Framework should be to ensure the regulatory
environment, infrastructure and investment are in place to meet Australia’s future freight needs.
“Support for nationally significant infrastructure through the Inland Rail Link and an East Coast high
speed rail network bring a national freight network closer to fruition”, Mr Kilgariff said.
Via ALC
ABS International Trade data released for the month of June shows that Australian Exports have turned around the $6.0b deficit from 2009-2010 to a surplus of $3.54b which is a $1.72b increase on the revised surplus for May 2010. Exports rose to $26.68b with non-rural goods leading the way with a 13% increase to $18.4b, then rural goods rose 6% to $2.45b and services rose $16m to $4.34b. There were falls in merchandising goods and non-monetary gold, however not enough to unsettle the record growth in the other sectors.
Trade in cotton, meat and meat preparations accounted for large parts of the growth in rural goods and offset the downturn in export of cereal grains and cereal preparations. Iron ore and copper ore were the biggest contributor to non-rural goods at 23% growth thanks to China and India and travel services was up $13m indicating that even during a GFC our Australian travel providers are still enticing international tourists down under.
Between May and June imports rose $57m to $23.14b and preliminary ABS estimates show the volume of goods imported increased 3.5% during the June quarter. The leader in the growth of imports was intermediate merchandise goods such as fuel lubricants, industrial supplies and textile yarn increasing by 5% in the period to $7.99b. Imports of capital goods rose 3% to $4.4b however consumption goods and import of services only rose 1% each to $5.61b and $4.73b respectively.
Economic experts have reported that overall exports climbed 7.1% in June alone a 32% rise from the same month last year. In contrast, imports rose just 0.2 per cent in June. In the next quarter should exports remain strong they could have a significant contribution to GDP growth after several quarters of drag and the current account deficit could shrink. These circumstances all suggest a strong economy which means however an upward change in interest rates is likely in the future.
While the effects of the GFC appear to be softening, SME exporters in Australia are still facing a difficult business environment, a strong Aussie dollar and competition from Europe driven largely by a weak Euro. To retain that all important market share Australian companies must maintain a strong marketing spend and keep agents and distributors supporting Australian brands. This is not the time for governments to cut back on programs like the export market development grants scheme, a program that has stood the test of time and made a massive contribution to Australia’s export performance.
Coface intends to become the first global European rating agency and to contribute towards restoring confidence in corporate ratings
On the 13th of July Coface filed its accreditation request with the CESR (Committee of European Securities Regulators) as a rating agency specialising in corporates, for its 10 rating agencies in Europe. Coface offers an alternative to the traditional 3 rating agencies, as well as a response to the issues concerning independence and responsibility which currently place the rating agencies at the heart of the actual debate on ratings.
An accreditation to contribute towards restoring confidence in ratings Coface filed its request for official accreditation with the centralising body, the CESR, which is the single point of entry for the registration and supervision of rating agencies in Europe. The latter will validate the request and send it to the relevant local authorities in the countries for which Coface is requesting accreditation (France, Germany, United Kingdom, Italy, Spain, Portugal, Belgium, the Netherlands, Poland and the Czech Republic) who will then process an application. The results
should be known within 6 months after filing.
The accreditation will allow Coface's ratings to be recognised by investors as credit ratings, in terms of the European regulation. All existing rating agencies, including the 3 global players on the market, have to file before the 7th of September, to obtain the same official European recognition.
Coface wishes to provide corporates and investors with an alternative to the traditional 3 global rating agencies- an alternative with 4 strong points:
- A recognised expertise
Assessing a company's probability of default is the core of the credit insurance business that Coface has been doing for 60 years. Since 2003, Coface has been producing internal ratings on all of its major exposures (over €15 million on average). In 2009 it tested this internal rating as a public rating, in both France and in Hong Kong. And since the beginning of 2010 it has been making all of its 12,000 internal ratings worldwide become public ratings.
- A global and decentralised rating agency
Coface ratings are produced in its 14 rating entities in Europe, Asia and the US (16 by the end of 2010).Ten of them, located in the European Union, apply the same procedure and production standards as described on the Coface Group website (on www.coface.com, in the “What we do-ratings and business information” section) and numbers 85 analysts and 85 support functions (of approximately 150 analysts and 100 support functions worldwide). All ratings are strictly controlled.
- An original model, limiting the risks of conflict of interest Coface only rates companies on which it has a significant credit risk exposure: credit insurance is the first customer for Coface ratings. This ensures a strict alignment of Coface, and of Coface ratings’ users interests, since Coface cannot afford complacent ratings.
And Coface does not receive a payment from the rated company: the rating is free of charge for the rated company. Coface ratings are public in 2 ways: the rated company can use Coface ratings in its communication; and interested financial institutions can access the ratings by taking a subscription (this is presently being tested, and will be commercially launched at the end of the year when all internal ratings have moved to public status).
- An alternative to an oligopolistic industry
Competition is the best way to improve the corporate ratings quality and reinforce confidence in ratings. Coface’s model will enable medium sized companies to have access to an international rating, anywhere in the world, by facilitating their access to financing.
This filing by Coface should not be a surprise: the President of the European Central Bank, Jean- Claude Trichet, has just declared that “it is probably the right time to cease having a worldwide oligopoly of three agencies”. "Coface has been working on this project for nearly 10 years, declares Jérôme Cazes, CEO of Coface, and the expertise of credit insurers in ratings has been recently recognised by the Governor of Banque de France, Christian Noyer. One of the main objectives of the new European regulation for ratings was to increase competition, and facilitate the development
of new players, with a different business model ".
Talisman Energy Inc., a global oil and gas company based in Canada, has opened its new regional headquarters in Brisbane.
With the strong support from the Queensland Government, Brisbane Marketing and Austrade, Talisman Energy has opened its new Australasian headquarters in Eagle Street, Brisbane.
Treasurer and Minister for Employment and Economic Development Andrew Fraser said the attraction of another global company to the Queensland was further proof the state was the place to be doing business.
“This news simply reinforces that Queensland is open for business – we’re a state that’s pro-business, with low business taxes, a highly-skilled workforce, investment in infrastructure and of course a lifestyle second to none,” Mr Fraser said.
“Setting up an Australasian and Papua New Guinea base in Brisbane makes good business sense and will present significant opportunities for Queensland mining equipment and services companies.
“Talisman’s new regional HQ will create more than 50 new jobs and help cement our reputation as a global services hub for the mining and energy sector.
“In South-East Asia, Talisman owns and operates large oil and gas fields in Indonesia, Vietnam and Malaysia.
“The company also holds oil producing assets in Australia and recently acquired gas fields in the Western Province of Papua New Guinea.”
Brisbane Marketing’s Investment Attraction division worked with Talisman Energy, providing detailed research on the competitive advantages of Brisbane’s oil and gas sector.
Lord Mayor Campbell Newman said he welcomed the decision by Talisman Energy to establish its Australian headquarters in Brisbane.
“Talisman’s decision to establish its new office in Brisbane shows there is a growing interest from foreign investors to operate in this great city,” Cr Newman said.
“Brisbane offers major opportunities for businesses in the oil and gas industry, thanks to our global capabilities in mining technology and services, close proximity to large oil and gas reserves in Queensland, PNG and Asia and access to an extensive international business network.”
Dave Nolan, Vice President Australia and Papua New Guinea for Talisman Australasia Pty Ltd, said the regional headquarters would support Papuan and Australasian operations across a range of activities including project management and development, engineering, drilling, sub-surface, procurement, logistics, human resources, legal and finance/planning functions.
“Brisbane was the natural choice for Talisman,” explained Mr Nolan.
“Its location provides easy access to our activities in Australasia and Papua New Guinea and the Queensland Government and Brisbane City Council have created an attractive environment for us to operate in.
“We are grateful for the warm welcome to Queensland and look forward to becoming part of the community.”
Under the agreement NASDAQ OMX will acquire 100 percent of the shares in privately held SMARTS Group Holdings. The transaction is expected to be concluded within Q3 2010. Financial terms of the transaction were not disclosed. Marlin & Associates acted as exclusive financial and strategic advisor to SMARTS.
Australia-based SMARTS has set the benchmark for surveillance systems, with the most proven and widely adopted surveillance solutions in the world.
Anna Ewing, Chief Information Officer of NASDAQ OMX, said, “The acquisition of SMARTS is a strategic fit with NASDAQ OMX’s commercial technology business. Efficient surveillance operations are imperative to ensure integrity in today’s financial markets, and SMARTS allows us to capitalize on the growing demand for surveillance technology products in exchange, regulator and broker markets worldwide. We are also excited about expanding our presence in Australia and look forward to leveraging SMARTS’ center of excellence and innovation in the region.”
Dr. Andreas Furche, CEO of SMARTS Group Holdings, said, “We are proud to have been chosen by NASDAQ OMX. This acquisition is recognition of the strength of our solutions, Australian innovation and the talent and professionalism of the SMARTS team. Being part of NASDAQ OMX provides enormous growth opportunities for SMARTS surveillance technologies and provides us with the direct connection to the U.S. markets that we have been seeking. Moreover, the SMARTS customer base will benefit from the added confidence of working with a world-leading company that has a similar customer base and therefore understands the business and requirements of SMARTS’ customers.”
About SMARTS Group
SMARTS Group is an Australian based financial technology company with over 30 national exchange and regulatory customers as well as 50 broking firm clients in more than 30 countries. With over 130 employees SMARTS Group is the leading provider of market surveillance solutions worldwide. SMARTS has delivered surveillance technology solutions since 1994 and was in 2009 awarded with the Australian ICT Exporter of the Year Award.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/nasdaqomx) and Twitter (http://www.twitter.com/nasdaqomx).
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
The Australian Institute of Export applauded today’s announcement by the Coalition to increase the cap for the Export Market Development Grants scheme to $200 million- effective 1st July 2011
.
Ian Murray, Executive Director of the Institute said: “This was a big step forward but it did fail to address the immediate shortfall. The announcement by the Government in July that the first tranche will be $27,500 was a massive blow to exporters and way short of where it should be.
“Exporters would simply cut back on marketing expenditure now which would result in lower export sales and a loss of jobs.”
Ian Murray said: “The Institute of Export would continue to press the Government for what was just and proper, especially as many exporters had already spent money with the expectation of greater funding.”
What’s required now is an injection of $50million this year. This will build confidence, exports and faith in the Government’s economic management credentials.
A coalition
government will restore funding to exporters and appoint an ambassador for trade
reform and specialist trade representatives for Australia's manufacturing and
service industries, Nationals leader Warren Truss says.
Speaking at
an Australian Institute of Export breakfast in Brisbane, Mr Truss said trade has
been a low priority for the Labor government.
He said
that Labor in 2007 promised to revitalise the Export Market Development Grants
scheme (EMDG), but had reduced payments to exporters.
An Abbott
government would increase the EMDG cap to $200 million from July 1, 2011,
restoring a $50 million shortfall caused by Labor government mismanagement, he
said.
Mr Truss
said exporters will then be able to anticipate that claims for the promotion of
exports under the EMDG would be paid in full.
"Furthermore, in
government the coalition will examine the merits of removing the cap altogether,
provided payments could be kept in reasonable bounds," Mr Truss
said
Mr Truss
said the coalition would appoint an ambassador for trade reform to promote
global trade reform and re-establish the Trade Advisory Council abolished by
Labor.
The
coalition would also continue funding for the position of trade representative
for agricultural industries and establish two new positions covering the
manufacturing and service industries.
Mr Truss
said the coalition's highest trade priority will be the Doha round of
negotiations towards freer world trade, but it would vigorously pursue free
trade agreements with China, Japan, Malaysia, the Gulf Co-operation Council,
South Korea and Indonesia.
Post by AAP regarding Coalition's Trade Launch this morning.
Comments
Post has no comments.