Author: roymorgansocial

80 coal ships in China stand-off

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Original article by Perry Williams, Will Glasgow
The Australian – Page: 1 & 4 : 27-Nov-20

Australia’s coal exports to China fell by 96 per cent in the first three weeks of November. Industry sources have indicated that 82 bulk carriers are currently in Chinese waters and awaiting permission to unload 8.8 million tonnes of Australian coal. China’s ban on coal imports from Australia has forced producers to find alternative markets for their coal, often at a discount. Meanwhile, North American coal is now being sold to China at a premium to Australian coal.

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More big firms to get capex break

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Original article by Tom McIlroy
The Australian Financial Review – Page: 1 & 11 : 23-Nov-20

Treasurer Josh Frydenberg is to expand the federal government’s business expense tax break so that more large companies can access it, with legislation to enact the changes to be introduced. Large companies that will now be able to access the scheme will include Coca-Cola Amatil and Boral, while large companies that will remain excluded include Wesfarmers, BHP, Telstra and Rio Tinto. Frydenberg says around 50 companies employing over 150,000 people are expected to benefit from the scheme’s expansion

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, BORAL LIMITED – ASX BLD, WESFARMERS LIMITED – ASX WES, BHP GROUP LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, RIO TINTO LIMITED – ASX RIO, AGL ENERGY LIMITED – ASX AGL, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG

Australian travel reboot off to a flying start

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Original article by Robyn Ironside
The Australian – Page: 5 : 23-Nov-20

Melbourne Airport CEO Lyell Strambi says he is very excited about the reopening of the New South Wales border to Victoria, with flights between Melbourne and Sydney increasing from just four a day to 42. Strambi says Melbourne Airport will reach around 33 per cent of its normal activity level in December, having been down to less than one per cent at one point. Qantas Group CEO Alan Joyce says the reopening of the NSW-Victoria border is a "big milestone in Australia opening back up", while Virgin Australia pilot Robert Ricketts undertook his first flight since May on 22 November.

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MELBOURNE AIRPORT, QANTAS AIRWAYS LIMITED – ASX QAN, VIRGIN AUSTRALIA HOLDINGS LIMITED

Vaccine’s immune boost

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Original article by Grant McArthur
Herald Sun – Page: 7 : 23-Nov-20

Research undertaken by scientists in Melbourne suggests that some people who contract COVID-19 may be immune from reinfection for a year or more. The researchers at Monash University, The Alfred hospital and the Burnet Institute tracked the immune cells of 25 COVID-19 patients and found that they were still able to fight off the virus some 242 days after contracting it. The scientists are hopeful that a COVID-19 vaccine would provide protection for a similar length of time, without the need for regular booster shots.

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MONASH UNIVERSITY, ALFRED HOSPITAL, THE MACFARLANE BURNET INSTITUTE FOR MEDICAL RESEARCH AND PUBLIC HEALTH LIMITED

Tough market sours outlook for resources

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Original article by Perry Williams
The Australian – Page: 13 & 16 : 23-Nov-20

A new report from the federal government notes that Australia’s resource and energy sector made final investment decisions on $39bn worth of projects in the year to 31 October, which is 30 per cent higher than previously. The total value of the sector’s investment pipeline has risen to $334bn in 2020. However, the Department of Industry, Science, Energy & Resources’ latest Major Projects report warns that investment is unlikely to return to the levels seen during the last boom in the minerals and energy sector.

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AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

Open delay a serious blow to Nine’s plans for the year

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Original article by James Madden, Emily Ritchie
The Australian – Page: 19 : 23-Nov-20

The prospect of the Australian Open being delayed due to coronavirus restrictions could prove costly for Nine Entertainment. The grand slam tournament is traditionally a key vehicle for the host broadcaster to promote its program line-up for the new year. Audience numbers are also likely to be affected if the Open is shifted from mid-January to late February or March, when the official ratings year will have begun. Media analyst Martin Hickson of 1851 Capital says Nine should seek to renegotiate its broadcasting rights deal with Tennis Australia. Some top tennis players have warned that the Open will have to be cancelled if training is prohibited during the mandatory quarantine period.

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NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN OPEN TENNIS, 1851 CAPITAL PTY LTD, TENNIS AUSTRALIA

Iron ore miners dig in for fight over capacity at Port Hedland

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Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 23-Nov-20

Iron ore producers Mineral Resources, BHP, Fortescue Metals Group and Hancock Prospecting have been asked to contribute to an independent review to determine the maximum capacity of Port Hedland. The Western Australian government wants the review to be completed by December, and it comes after the mining companies rejected the government’s call for a $10 billion outer harbour to be constructed at Port Hedland. Growth plans outlined by the four companies amount to output of at least 690 million tonnes per annum, while the government believes that Port Hedland’s maximum capacity could be pushed to around 650 million tonnes.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, HANCOCK PROSPECTING PTY LTD

Dividend payouts fall 50pc in quarter

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Original article by Cliona O’Dowd
The Australian – Page: 15 : 23-Nov-20

Data from Janus Henderson shows that Australian-listed companies paid out $US9.6bn ($13.4bn) worth of dividends in the September quarter, which is 47.8 per cent lower than the same period in 2019. This was primarily due to reduced dividends from three of the major banks, while a number of companies chose to withhold dividends. Jane Shoemake of Janus Henderson says payout ratios in Australia were too high and a "reset" was needed. Janus Henderson expects dividend payouts to rise in the second quarter of 2021.

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JANUS HENDERSON GROUP PLC – ASX JHG

Grocon on brink of administration

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Original article by Ben Wilmot
The Australian – Page: 13 & 14 : 23-Nov-20

Troubled construction company Grocon was said to be in talks over the weekend of 21-22 November about the appointment of administrators, although no move has yet been made. Grocon has been involved in a number of disputes in recent times, including with Infrastructure New South Wales, against which Grocon has launched a $270 million legal action. Grocon head Daniel Grollo recently said that its creditors would be "first in line" to be paid if it wins its action against Infrastructure NSW. Grocon’s latest problems relate to a project in Melbourne, where it is said that sub-contractors are owed around $8 million. Grocon is building a tower for Impact Investment under a fixed-price contract, and claims that it has not been paid by Impact since May.

CORPORATES
GROCON PTY LTD, INFRASTRUCTURE NEW SOUTH WALES, IMPACT INVESTMENT GROUP PTY LTD

News firms in stand for fairer future

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Original article by James Madden
The Australian – Page: 19 : 23-Nov-20

Some of Australia’s top media industry executives have jointly signed an ‘open letter’ to the federal government expressing support for its proposed media bargaining code. The letter also outlines the features that must be included in the code to ensure a level playing field between traditional media companies and digital platforms such as Facebook and Google. Seven West Media CEO James Warburton, News Corp Australia executive chairman Michael Miller and Free TV CEO Bridget Fair are amongst those who signed the letter, which will be published in all major metropolitan newspapers on 23 November.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FREE TV AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FACEBOOK INCORPORATED, GOOGLE INCORPORATED