The International Resource Journal: Skelton Sherborne leads trend spotting in mining & construction, Queensland

Skelton Sherborne leads trend spotting in mining & construction, Queensland
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Nuala  Gallagher on 01 February, 2012 05:20:00
 
IRJ – February 1 – Director Brad Skelton, of Australian mining and
construction equipment freight forwarding giant Skelton Sherborne, tackled
Queensland’s 2012 economic outlook last week when he launched a
trend-setting index capable of measuring heavy machinery and tyre imports.
Skelton pointed out that the mining industry is “the backbone of
Queensland and a key reason behind Australia’s growth in the last few
years” and noted that while global economic outlooks remain turgid and
changeable, Queensland has a lot to look forward to.
“We saw a strong performance especially in the middle part of 2011 and
that will hold Queensland in good stead,” he explained.
“It’s a year to tread cautiously. The mining sector can ride the
bumps and end 2012 in a solid position, but it depends very much on commodity
prices.
“Other major events at home this year, including the introduction of the
mining tax and state election, could also be disruptive”.
The index may prove vital in terms of proffering analysis on the mining and
construction industries, Skelton explained, given the sheer amount of equipment
that the company brings into the country. Its shipping index keeps track of
heavy machinery imports, providing detailed information ahead of forming trends,
and is poised to “empower companies to make the most of an uncertain year
ahead”, says Skelton. Similarly, the newly launched tyre index measures
the amount of work underway within the mining sector, and the resultant need for
purchases.
“The index was able to predict how the sector was affected by the GFC. It
showed mining equipment imports slumped in the last half of 2008, as the GFC
arrived, and the first half of 2009. There was a 90 per cent drop in the number
of machines being shipped into Australia. This represented a fall in revenue of
more than $350,000,000 across the industry,” Skelton added.
“Since that time though there has been a slow but steady increase and by
the middle of 2011 the index indicates the number of imports has surpassed
pre-GFC levels”.
He emphasised that Australia’s mining sector “is still one of the
world’s strongest and it should remain so, despite other competing
influences this year”, referring to both the mining and carbon taxes. With
regards to the state election in Queensland, he said that more disruption may
take place as many locally active construction and mining groups await
decision-making.
“All these factors signal an uncertain year ahead. I believe a
conservative approach will be taken by the industry and that could affect state
revenue as well as company profits. I would like to see governments take this
into consideration”, he resolved.
“Action can be taken though to minimise any possible damage. The shipping
index and our new tyre index will help people make informed decisions and get
the most out of 2012.”