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Economic News from Darwin – 6 March 2017

2017-03-02 NT News: Darwin rental yields strong

Darwin has shown to be the most profitable rental city in Australia, with gross rental yields at 5.1%, according to CoreLogic’s Hedonic Home Value Index for February 2017.

2017-03-04 The Weekend Australian:
On Board Shell’s Prelude barge, the world’s biggest vessel

The biggest vessel the world has ever seen is in the final stages of preparation ahead of its maiden voyage to its permanent home off Australia’s northwest coast. Royal Dutch Shell’s revolutionary Prelude floating liquefied natural gas facility - 50% longer and 6 times the weight of the world’s largest aircraft carrier — is deep into the commissioning process at a shipyard in Korea… The barge is positioned directly over remote offshore gasfields, removing the need for long underwater pipelines and allowing the exploitation of reservoirs previously considered too far from shore to warrant a dedicated onshore LNG plant… (Shell) expects to be generating cash flow from the project in 2018.

2017-03-02 Australian Mining: Mining Investment

Canadian think-tank, Fraser Institute… survey ranks 104 jurisdictions around the world based on geologic attractiveness and the extent government policies encourage or deter exploration and investment… Northern Territory: 20th.

2017-03-02 Media Release:
Indonesian live export market moves from strength to strength

With an increase in the weight limit from 350kg to 450kg for live feeder cattle, alongside an increase in the age limit, Australian farmers will have the ability to produce a greater range of cattle for the Indonesian market at competitive prices… Australian agricultural exports to Indonesia were worth $3.1 billion in 2015-16—including live cattle exports worth $578 million, making it our biggest market for feeder cattle.

2017-03-01 NT News: Defence work push

This weekend, for the first time, the NT will have a presence at the Avalon Australian International Aerospace and Defence Expo… Avalon is a great opportunity to discuss the capabilities of NT industry and to continue to build relationships with prime contractors. We want to ensure that the defence industry knows that Territory business have the capacity to deliver on major projects.

2017-02-27 Charles Darwin University E-News: Business School ‘among the best’

The School of Business has been ranked among the world’s 1000 best for the first time. The Paris-based Eduniversal Rankings Agency has awarded CDU “Two Palmes of Excellence”, noting that it has a “good business school with strong regional influence”.

2017-03-03 Katherine Times: Territory tourism sector a standout performer

Federal Minister Senator Nigel Scullion: The Northern Territory’s tourism industry is a standout performer… Tourism is growing in the Territory and we should celebrate its success… In 2015-16, one-and-half-million Australians enjoyed a getaway up here – up 52% on the figure 3 years before. This is remarkable growth and a testament to the marketing and quality of tourism products on offer up here.
And according to the National Visitor Survey, domestic tourists spent more time and money in the Territory in 2015-2016 than anywhere else in the country. On average, Australian tourists stayed almost a week up here, with each interstate visitor spending on average almost $1,400 – an outcome that resulted in more than $1.8 billion being injected into the local economy.

2017-03-02 Economic Brief: International Trade, Year to January 2017

Exports: NT’s top goods export destinations: Japan ($1.7 billion, reflecting LNG exports from Darwin LNG plant), and China ($1.4 billion, predominately mineral ores including manganese, and concentrates such as zinc and lead).
Imports: Top 3 countries from which NT sourced its international goods imports: Thailand ($480 million), Singapore ($244 million) and Malaysia ($215 million). The majority are manufactured iron and steel products, attributed to the import of modules related to the Ichthys LNG project.

2017-03-01 Economic Brief: State Final Demand December quarter 2016

Territory state final demand increased by 3.1% to $7.6 billion in the December quarter 2016… driven by an 8.1% increase in investment...



Disclaimer
The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

12 O’Sullivan Circuit, East Arm NT 0822 +61 08 8943 7300 enquiries@ gwelodevelopments.com.au

Gwelo Developments has built a strong reputation in Darwin since 1975 and the company is well known and respected. Its developments have stood the test of time and been highly innovative and the Gwelo team is a strong team of long established professionals. Skills encompass a full range of construction and project management, commercial developments and residential design providing outstanding home owner, commercial, retail and investor options.

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