In a recent post, we covered Ernst & Young's latest Australian Yellow Goods report which valued excavators, haul trucks, dozers and loaders in today's mining and construction current climate. So while there are recovery signs in construction, the mining sector tells a much bleaker story. Here are 11 reasons why. According to EY's report, the major influences on the market for and values of second-hand yellow goods have been:
Sustained low commodity prices, especially in iron ore and coal, have seen a number of mines being placed on care and maintenance. While overall product levels of iron ore have increased, EY confirms that these increases are mainly caused by the major high volume low cost producers.
This situation has placed significant pressure on smaller higher cost producers and has resulted in a significant reduction in the need for load and haul fleets. In turn, this has led to rental and contract fleet service contracts being terminated as well as owner miner fleets being either partially or wholly parked up.
It's estimated that anywhere between $600m and $1bn of equipment is currently unitilised and possibly significantly more. Alarmingly, one market participant reported an estimated 1,500 haul trucks idle in QLD alone.
If you're considering capacity utilisation strategies for your fleet, it's worthwhile to know what other equipment suppliers are saying. After all, you don't buy a car without knowing the specs and you don't see movies that friends have panned. Check out these case studies from a handful of our suppliers and discover more about solutions for your business.
Times are rapidly changing in the construction market, and it's never been more important to adapt in order to see your company grow. A shift is occurring within offices as a result of technology and the rise of employees with a nontraditional approach to office life. The concept of 'the office of the future' is more than just the space in which employees work - it includes the culture and vibe of the office as well as the awareness of the health and well being of all workers.
The Western Australian Government has announced the shutdown of the Armadale Line in November 2023 to enable works to be carried out as part of the transformational upgrade of the 130-year-old train line.
A new hotel is set to rise in the precinct surrounding the Gold Coast Airport, with the Federal Government giving its approval to the development of a $50 million Rydges-brand hotel proposed by Queensland Airport Limited (QAL).
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