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Australian Minnning Industries Heading for a Collapse

Publisher: Shipping and Freight Intelligence

The worst feared in the Australian minning is coming to a realty now. According to reports from ShipBrokers in Singapore, vessel bookings from Australian companies and traders in Singapore and Japan have had a great fall in the recent days.

In once case the Aquila coal mine was sold for $1., which shows that Australia is entering a period of recession and the with the ABS in Australia engaged in manufacturing of the numbers to cook the figurers for market manipluation., realty has caught with them.

ShipOwners now servicing the Australian ports have started to ask the charterers for Bank Guarantee. However reports indicate that they are not accepting Guarantees from the major 4 banks like CBA, ANZ, NAB and Wpac bcos these banks have lost credibility to international shipOwners.

The recent decision by one of the Australia's Major investment funding bank called AMP to stop funding of investment properties has also alarmed the Banks funding the vessels and the ship owners on the viability of the Australian banks and their real liquidity is called for.

There has been recent reports of one of the major Bank "Bankwest" unable to pay a fully funded instrument even though the issuer has deposited the money in his account., but Bankwest could not honour the payment on time and was playing up excuses.

This has caused lack of confidence in the Australian banks and their ability to issue notes and honour them.

With several minning closing in the state of WA and NSW and QLD., it is now questionable as to whether the state govt's will have the funds to complete the expansion and development programmes ear marked for the current financial year.

Several Australian companies have started laying off contracts for their mines including the recently new comer Adani group.

With the Country not having much resources as manufacturing industry has come to a close, one needs to think., what will be the future of Australian in the new century. Even though the Agriculture has been a major exporter from Australia., the incompetence and corruption in NSW government has meant that these days Agriculture lands are also being mined for Coal as in the case of the Liverpool plains.

The RBA and the ABS has been issuing cooked reports to prop-up the economy and one needs to know whether this work under the current scenario. The AUD has fallen to 0.72 cents recently and RBA (Reserve Bank of Australia) must stop from engaging in price fixing for the currency, so that the Dollar can fall further to help the falling commodity prices. it is expected that the AUD in real terms will hit 0.25 cents to the USD. which is the only way for the minning forward now in Australia.

ShipBrokers have been cautious in accepting booking from commodity exporters / traders as there are high chances of the exporters contractors at port defaulting the supplies due high default in exporters paying the contractors for the jobs.

With the recent Atlas Iron Ore share price dropping after the removal of the trading halt and the company suffering major losses., one needs to see whether the Iron Ore trading companies like FMG, BHP and RT can continue to survive this fall in commodity.

The future for Australian Minning as of now looks very bleak with some of the bank also expected to collapse like greek banks due to high exposure to Bubbled property market

The other question is whether Australian minning will be viable in the future as South American minnes have started to become more comptetive.




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