Author: roymorgansocial

Shipping industry baulks at extra fees at Port Hedland for iron ore – Australia’s most important export

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Original article by Karen Michelmore
abc.net.au – Page: Online : 12-Jan-21

The Pilbara Ports Authority will introduce a $13,450 levy on all large iron ore shipments from Port Hedland, beginning on 1 March. The Western Australian government will use the levy to finance a buyback of up to 400 dust-affected homes in Port Hedland. The levy has been criticised by Shipping Australia CEO Melwyn Noronha, who says it is inappropriate for ship operators to be required to pay to address the dust problem. Ports Minister Alannah MacTiernan contends that similar levies have been used to recover costs in the past.

CORPORATES
PILBARA PORTS AUTHORITY, SHIPPING AUSTRALIA LIMITED, WESTERN AUSTRALIA. DEPT OF TRANSPORT

Coronavirus restrictions tipped to stay in Australia until mid-2022

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Original article by Josh Butler
The New Daily – Page: Online : 11-Jan-21

Infectious diseases expert Professor Peter Collignon has warned that Australians should expect to be subject to COVID-19 restrictions until at least the end of 2021. He adds that restrictions could potentially be in place for up to two years if governments adopt an elimination strategy. He also says that further restrictions may be necessary during the coming winter months, as the coronavirus spread more and survives for longer in colder weather. There is also uncertainty about the effectiveness of the COVID-19 vaccines that the federal government has committed to buying.

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Tax bonus eases pain of lockdown

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Original article by Sid Maher, Patrick Commins
The Australian – Page: 1 & 5 : 11-Jan-21

Treasurer Josh Frydenberg says the federal government delivered some $7bn worth of tax cuts to Australian workers in the second half of 2020. This includes about $1.1bn under the stage-two tax cuts and $5.9bn via the Low and Middle Income Tax Offset. Treasury estimates that the tax cuts will boost GDP by around $3.5bn in 2020-21. The tax relief is likely to have contributed to a surge in retail spending during the half-year, despite the impact of COVID-19 lockdown restrictions. Citigroup expects consumer spending to have risen by seven per cent in November, with data to be released on 11 January.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, CITIGROUP PTY LTD

Berejiklian slams Andrews over hasty border shutdown

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Original article by Stephen Rice
The Australian – Page: 1 & 5 : 11-Jan-21

New South Wales Premier Gladys Berejiklian has urged other states to consult with her government before closing their borders in the future. Victoria’s border with NSW remains closed, and Premier Daniel Andrews has yet to set a firm date for lifting the restrictions. This is despite the fact that NSW recorded just three new locally-acquired COVID-19 cases on 10 January, while just 10 new cases among returned travellers in hotel quarantine were recorded nationwide. There are now 199 active cases in NSW, 45 in Victoria, 21 in the Northern Territory, 20 in Queensland, 15 in South Australia and 15 in Western Australia.

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, VICTORIA. DEPT OF PREMIER AND CABINET

Qld govt refuses to reveal whether harsh restrictions will be lifted

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Original article by Hayden Johnson
The Courier-Mail – Page: 4 & 5 : 11-Jan-21

The three-day lockdown of Greater Brisbane is slated to end at 6pm on 11 January, but Premier Annastacia Palaszczuk has not yet committed to lifting the restrictions. The snap lockdown was imposed after a cleaner at a quarantine hotel tested positive for the highly contagious UK strain of COVID-19; two returned travellers in quarantine at the hotel have also been diagnosed with the mutated variant of the coronavirus. Chief Health Officer Jeannette Young says the latest COVID-19 numbers will determine the government’s next move. Queensland has recorded two consecutive days with no new cases.

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QUEENSLAND. DEPT OF THE PREMIER AND CABINET, QUEENSLAND HEALTH

Investment bankers brace for deal blitz

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Original article by Tim Boyd
The Australian Financial Review – Page: 6 : 11-Jan-21

Australian investment bankers are upbeat about the outlook for mergers and acquisitions activity in 2021. John Pickhaver of Macquarie Capital says local companies are likely to attract interest from foreign suitors, given Australia’s comparative success in combating COVID-19. James Disney of Credit Suisse expects private equity firms to actively pursue acquisitions in 2021. There was a spike in M&A activity in the fourth quarter of 2020, although data from Dealogic shows that the value of announced deals for the full year reached a 10-year low of $US63.2bn ($81.4bn).

CORPORATES
MACQUARIE CAPITAL PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, DEALOGIC (AUSTRALIA) PTY LTD

Producers to reap windfall as LNG price soars

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Original article by Perry Williams
The Australian – Page: 17 : 11-Jan-21

Australia’s revenue from LNG exports is likely to rise strongly after a surge in demand for LNG in Asia boosted the price of the commodity. Industry sources have stated that a Japanese utility has paid $US37 per million British thermal units for an LNG shipment from the Gorgon project in Western Australia. The benchmark for LNG spot prices in North Asia also recently rose to $US20.70 per mbtu, compared with just $US2 per mbtu in June. Cold weather in Asia has been the key driver of the surge in demand for LNG.

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New year tech floats pipeline bulging after late 2020 surge

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 13 & 14 : 11-Jan-21

Beforepay, Marketplacer and Vinomofo are among the companies that are believed to be looking to pursue an IPO in 2021. Technology stocks are expected to be among the leading IPO candidates again, following the sharemarket debuts of companies such as Nuix and Hipages in late 2020. ASX Limited’s Max Cunningham says the success of Nuix’s IPO demonstrates the strong interest in high-growth technology companies. However, Paul Bassat of Square Peg Capital says companies should delay an IPO if they have doubts about being ready to go public.

CORPORATES
BEFOREPAY, MARKETPLACER, VINOMOFO, NUIX LIMITED – ASX NXL, HIPAGES GROUP HOLDINGS LIMITED – ASX HPG, ASX LIMITED – ASX ASX, SQUARE PEG CAPITAL PTY LTD

No going back: AusPost delivers as online shopping takes off

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 15 : 11-Jan-21

Australia Post has advised that it delivered a record 52 million parcels during December, which is 20 per cent higher year-on-year. Acting CEO Rodney Boys says the postal service recorded strong growth in parcel deliveries throughout 2020, noting that the structural shift to online shopping is likely to be sustained. Boys adds that Australia Post hired an additional 5,000 people and ramped up its fleet of delivery vans to meet the December rush, and many of the extra resources will be retained. He says it will also bring forward some of its future investment plans.

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AUSTRALIA POST

Don’t cut support too quickly: Judo

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Original article by Joyce Moullakis
The Weekend Australian – Page: 19 & 24 : 9-Jan-21

Judo Bank’s joint CEO Joseph Healy has warned of the potential for a surge in small business insolvencies in the June quarter. Healy notes that insolvencies are currently about 35 per cent lower than comparable periods due to factors such as COVID-19 support measures, and he has cautioned the federal government against phasing out support packages for the small business sector too quickly. Meanwhile, Healy is upbeat about the outlook for the small business-focused ‘challenger’ bank, despite the recent decision of rival Xinja to withdraw from the banking sector.

CORPORATES
JUDO BANK PTY LTD, XINJA BANK LIMITED