Source: John Garnaut, Sydney Morning Herald
COSCO, the world’s biggest shipping line for bulk commodities, yesterday singled out Newcastle’s dysfunctional coal loading systems to explain why iron ore shipping costs have doubled in four months and quadrupled since early last year.
"That’s why in Newcastle there are so many ships; more than 100 vessels waiting for coal," said Yang Shicheng, deputy director of research at the COSCO group. "It is such a bad situation in Australia."
With about one in 20 of the world’s bulk dry commodity ships tied up in a traffic jam at Newcastle on any given day, the average price for hauling ore in a cape-size ship to China has just broken through $US200,000 ($217,000) per day, from an already heated $US100,000 in the middle of the year.
Perversely, Newcastle’s contribution to unprecedented global freight costs has helped lever BHP Billiton into its strongest-ever bargaining position.
Suddenly, it is far more cost effective for Shanghai steel makers to float ore for 10 days over 5000 kilometres from Dampier in Western Australia, than to cart it for 40 days over 20,000 kilometres from Tubarao, Brazil.
He too would like a piece of it: "Collecting this $US30 billion is a marvellous dream."
Traders and conference goers have booked out all 563 rooms at the Shangrila and 626 rooms at the equally extravagant Furama Hotel next door. They are waving mobile phones and openly signing contracts in the foyers and over cups of Chinese tea.
Source: Hunter Business Chamber
The Hunter Business Chamber held their Annual General Meeting on Friday 26th October at which the Chamber announced the new executive team for 2007/2008.
The results were:
The President, Ms Karen Howard (NineWays Business Centre)
The Senior Vice President, Mr Bradley Wilson (AOK Health)
The Vice President, Mr Brett Derwin (Newcastle Commercial Finance)
We are looking forward to working together to help create a climate in which businesses can succeed. I encourage you to contibute to the Chamber and raise issues with the Executive.
Source: The Forum Health & Wellness Centre
The award winning facilities, The Forum Sports & Aquatic Centre at the University of Newcastle are about to receive a half a million dollar makeover.
The redevelopment will begin later this month and will include expansion of the gymnasium, the addition of state-of-the-art equipment, provision of a VIP/Private Training Zone and refurbishment of a Cycle Zone.
Other improvements to The Forum Sports & Aquatic Centre at the University of Newcastle will include: new paint, décor and carpet, renovations to the Group Fitness areas and High Performance Training Zones, as well as improvements to member locker amenities and storage Zones.
Source: Auto Advantage
Auto Advantage was recognised for its innovative business approach when it was named as the Champion Automotive Services at the NSW ACT Small Business Champion Awards on Saturday night (Saturday 13 October 2007).
Auto Advantage is an independent Hunter car buying service specialising in buying new and used cars of all makes for personal use or for people in business.
Auto Advantage provides a free service to its customers – the company receives its fee from the dealer from which the motor vehicle is purchased. The company uses its independent purchasing power to act on behalf of the customer to find and negotiate the best price on a car.
Source: The Forum Health & Wellness Centre
The Forum Health & Wellness Centre Harbourside is celebrating one year of outstanding business success.
The Forum opened the Health & Wellness Centre Harbourside in October 2006 with the presales period for this Centre out-performing any other in NSW. The Forum Harbourside doubled its original business targets and signed-up some 3,863 members last year.
NUsport General Manager, Samantha Martin-Williams said that The Forum Health & Wellness Centre Harbourside was the successful result of working across state, federal and local governments, heritage authorities and planning departments to create a place suitable for a totally new market.
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