Brisbane rents rising faster than other mainland capitals CoreLogic’s head of research Tim Lawless said the slump in investor activity was the result of several factors, predominantly policies that limited investment credit growth and capped interest only lending combined with the housing slowdown.“More recently, housing market conditions have turned a corner, with values rising across five of the eight capital cities over the September quarter and three of the broad ‘rest of state’ region,” Mr Lawless said, noting those improved capital gains prospects plus the loosening of credit policies were likely bringing investors back. CoreLogic head of research Tim Lawless.Every state and territory has seen a lift in the value of investment loans, with the largest rise over the three months to the end of August in Victoria and Queensland, where the value of investment home loan commitments was up 19.1 per cent, according to the report.Tasmania and the ACT were the only other states or territories that recorded a double digit rise in the value of loans taken out by investors during the past three months, with 14.1 per cent and 12.8 per cent respectively. Listed for sale, this six bedroom house at 17 Edmondstone St in Newmarket is set up for dual living, and is being pitched as a dream rental for an investor or a smart purchase for a buyer who is open to renting out half the property to pay off the mortgageBut investment activity continues to be most concentrated in NSW, where investors comprise 31.2 per cent of the investor demand for mortgages. That state saw a 6.8 per cent rise in the value of investor loans.In Queensland, investors comprise 19.6 per cent of the market, according to CoreLogic.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours ago“Looking forward there is a strong likelihood that investor activity will increase further,” Mr Lawless said.“The long term average shows investors are typically around one third of mortgage demand,implying investors are currently under represented in the market.“As investment activity rises we could see increased price pressures as this sector of the market tends to be more competitive in setting new price benchmarks.”But the upswing in investor activity could lead to fewer first home buyers due to competition in the market, according to the report.And that competition can already be seen in the Brisbane market, with agents actively pitching properties to budget conscious first home buyers and ‘savvy investors’ at the same time, often noting rental yields and occupancy rates as selling points. On the market for offers over $449,000, this house at 10 Tedman St, Zillmere, is being marketed to first home buyers, young families or the ‘savvy investor’ due to its proximity to public transport and amenities Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWays to get into the property market for less00:29Rising home values, record-low interest rates and strong rental yields are tempting investors back in to the market, with Queensland shaping up as one of the hottest destinations for those with cash to splash.New figures show that the value of home loans taken out by investors has risen 11.6 per cent nationally over the past three months, marking the fastest growth in the value of investment loan commitments since November 2016.“The rise in investment activity comes after a period of relative inactivity, with investor participation falling from 43 per cent of market activity in mid 2015 to a recent record low of 25.8 per cent in July this year,” the latest CoreLogic Property Pulse reports. MORE NEWS: Buyers missing out despite lowest rates in history Why buyer demand is creating a sellers market
17 Mizzen Street, Manly WestThe owner of this traditional Queenslander-style home will be spoilt for choice when it comes to finding a cosy spot to curl up in front the fire with a good book.There are four in total in this this home at 17 Mizzen Street, Manly West. Originally built 17 Mizzen Street, Manly West, has four fireplaces dotted throughiut its living areas and bedrooms.around 1894 for the local Hargreaves family, it has since undergone several renovations to create what is today a prestigious family home on a spacious 2,000sqm block. The building’s traditional characteristics have been accentuated by the addition of contemporary fittings, to seamlessly blend colonial quirks with modern functionality.Four gas fire places are dotted around the bedrooms and living spaces to create a welcoming warmth in the cooler months. The house also features a large media room, workshop space in the four-car garage, a pool and pavilion, and separate studio.The four-bedroom property is open to expressions of interest through David Green of Harcourts Green Living.You might find it hard to keep your attention focused on the boxset you’re watching at 107 While away the hours over a cup of tea and sympathy, as the flames provide a sense of comfort and warmth. Surrounded by a stylish grey and white herringbone tiled mantle, it brings a level of sophistication to the room, which continues throughout the rest of the house.This include the four bedrooms, three bathrooms, designer kitchen and multitude of living areas. When the weather warms back up, there is a salt-water pool and alfresco terrace/pergola to cool you down.The house is open to expressions of interest through Dwight Colbert of Ray White, Aspley. Settle in on the comfy sofas in this TV room at 107 Commodore Drive, Paradise Waters. Commodore Driv e , Paradise Waters. Why? Because the pebble gas fireplace below the TV set may prove a more eye-catching prospect. Sink back into large, comfy couches, and slowly relax as you watch the mesmerising flames flicker away. The fireplace is not the only feature in this sprawling coastal home. It also comes with four bedroom, four bathrooms, a gourmet kitchen, butler’s pantry, mosaic tiled pool, ducted airconditioning, a video intercom, rainwater tank, and four-car secure car garage.With river frontage the property is on the market for $5.5 million through Bob and Russell Rollington of First National Real Estate Surfers Paradise. More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours ago This fireplace at 139 Ridge Street, Northgate, brings a touch of warmth to this formal sitting room.A stunning feature fireplace is the focus of the formal sitting room in a contemporary home at 139 Ridge Street, Northgate.
Aquamarine Subsea Solutions has been awarded a contract to upgrade Diamond Offshore’s 18-¾” 15M subsea stack for the Ocean Valiant semi-submersible, currently operating in the North Sea.Aquamarine will supply engineering design, fabrication, and assembly and test to upgrade the stack to accommodate five cavities, including the choke and kill flex loop and capture spool.The work will be carried out at Aquamarines’ Houston, Texas facility.
Tekmar Energy has achieved independent approval for the design and manufacture of its PU bend restrictors for compliance to the American Petroleum Institute’s (API) specification for flexible pipe ancillary equipment.The verification comes after undergoing a 2-year certification program with Lloyds Register.The process included; long-term material qualification, quality and manufacturing audits, review of the design methodology and witness of the verification testing to ensure Tekmar’s practices meet with the requirements of API17L.The majority of the product testing was conducted in Tekmar’s new test facility in Newton Aycliffe, County Durham, utilizing the recent investment of a 750kNm bend test rig that was installed earlier this year, the company explained..Charlie Sullivan, head of Subsea Sales & Strategy at Tekmar said, “We are excited to receive this independent qualification, which will allow us to provide an extended range of competitive products to both new, and existing, customers in challenging market conditions.”
Fugro has teamed up with Amplified Geochemical Imaging (AGI) to acquire offshore hydrocarbon seep data in advance of Canada’s 2018 east coast bid round.Bathymetry, backscatter and water column anomaly data will be collected to pull together a comprehensive picture of surficial geological features, Fugro said on Wednesday. These data will be used to identify and precisely target the best locations for geochemical sampling, enabling clients to improve and de-risk their exploration programs, the company explained.According to the company, the information may also be used in a variety of further investigations such as establishing environmental baselines, evaluating seafloor geohazards and preliminary planning for field development.The seafloor mapping will be performed by Fugro using its geophysical vessel, Fugro Discovery, and includes acquisition of 10,500 square kilometers of multibeam echo sounder data and sub-bottom profiler data. This will be followed by coring up to 150 geochemical targets and 20 heat flow measurements, complete with shipboard geochemical screening testing, further shore-based geochemical analyses (carried out by AGI) and an integrated, interpreted data package. AGI’s geochemical analyses will determine the hydrocarbon signature of the samples.“We are excited to be part of Canada’s growing offshore industry and Newfoundland and Labrador’s 2018 licensing round,” said Keith Kneale, Fugro’s Business Development Manager for the Americas.“Investment by Nalcor Energy is supporting this project which will showcase Fugro’s market-leading expertise – earned from conducting dozens of similar surveys including the world’s four largest to date – enabling clients to improve and de-risk their exploration programs.” He explained how AGI has been involved in offshore microseepage and macroseepage programs for over 20 years.The comprehensive data package will be available in early 2018 and is being licensed from both Fugro and AGI.
A helicopter, which was on its way to the bulk carrier MV Squireship to collect a marine pilot, crashed on Thursday, off the Port Hedland.There were two people on board the helicopter, as reported by the Australian Maritime Safety Authority (AMSA).The marine pilot on board the MV Squireship witnessed the incident and immediately notified harbor control, which in turn advised AMSA.Around the same time, AMSA said that it had detected a distress beacon from one of the helicopter’s crew members.“Four flares were also seen in the search area shortly after the crash. Around 1.00 am AWST a pilot vessel picked up one of the helicopter’s crew members who was injured but safe in a life raft. He was taken to Port Hedland Hospital,” AMSA said.Seven aircraft, including AMSA’s Challenger Search and Rescue jet, four tug boats, two pilot vessels and Volunteer Marine Rescue Port Hedland joined the search for the missing helicopter pilot.“While debris from the helicopter has been located, there have been no sightings of the missing pilot. Any debris located by members of the public should be reported to Western Australia Police immediately,” AMSA added.Western Australia Police are making arrangements for a sub-surface search for the wreckage of the helicopter.Search operations for the missing helicopter pilot will resume this morning, involving four vessels, seven helicopters and AMSA’s Challenger search and rescue jet, AMS informed.Today’s search will cover an area more than 1000 square kilometers. Weather conditions for the search are good, with clear visibility and calm seas, AMSA added.The Australian Transport Safety Bureau will investigate the incident.
Houston-based EPCI contractor McDermott recorded an increase in both profit and revenues in its last full quarter as a separate company before it merges with CB&I.McDermott, which recently rejected a takeover offer by Subsea 7, on Tuesday posted its first quarter 2018 earnings attributable to McDermott stockholders of $35.2 million compared to $21.9 million for the prior-year first quarter.McDermott’s first quarter 2018 revenues totaled $607.8 million, an increase of $88.4 million, compared to revenues of $519.4 million for the prior-year first quarter.The key projects driving revenues for the first quarter of 2018 were the Saudi Aramco LTA II Lump Sum, Saudi Aramco Safaniya Phase 5, Inpex Ichthys and Pemex Abkatun-A2 projects. The increase from the prior-year first quarter was primarily due to the settlement of a significant change order in Asia and an increase in activity in the Middle East.David Dickson, President and Chief Executive Officer of McDermott, said: “As market conditions improve for our customers, opportunities for the combined organization continue to increase as our customers remain enthusiastic about the vertically integrated solution a combined McDermott and CB&I will offer.”Dickson, who will continue to lead the combined company, also reminded that the integration teams from the two companies had identified potential incremental savings of $100 million in addition to the expected $250 million in annualized cost synergies.Dickson added: “We are excited to complete our transformational combination with CB&I so that we can begin integrating our two companies and deliver on the significant value-creating benefits of the transaction.”At the end of the quarter, McDermott’s backlog was $3.4 billion, compared to $3.9 billion at the end of last December. Order intake in the first quarter of 2018 totaled $321.2 million.McDermott and CB&I did not allow Subsea 7’s attempted takeover and objection by a shareholder holding about 2% of the company to rock their merger boat but boasted with support from two proxy advisory firms, Institutional Shareholder Services and Glass Lewis, who endorsed the merger plan ahead of the special meetings of shareholders of both companies scheduled to be held on May 2.Once and if the merger is completed as planned next month, the new company will keep the name McDermott as it “provides a strong foundation for the combined company.”Offshore Energy Today Staff
Japan is considering the option of joining the Novatek-led Yamal LNG project the country’s prime minister told at an event in St. Petersburg. Russian news agency Sputnik quoted Shinzo Abe as saying that Japan is interested in widening its energy sector cooperation with Russia and is eyeing various projects especially the Yamal LNG project.In a recent interview with LNG World News, Mark Gyetvay, Novatek’s CFO noted that the project initially envisioned to have three liquefaction trains with 5.5. mtpa capacity each will develop an additional fourth train with a 900,000 tons per year capacity.The first liquefaction train, that started producing LNG in December last year is currently producing at 109 percent of its nameplate capacity or around 6 million tons per year.Gyetvay said the fourth production unit has received shareholder approval but banks will have to grant the approval of the expansion as agreed in the financing deal.Yamal LNG’s shareholders which besides Novatek include France’s Total, China’s CNPC and Silk Road Fund. LNG World News Staff
London-listed oil company SOCO International has said all conditions for the previously announced sale of its Angola assets have been met.SOCO in July announced it had entered into a sale and purchase agreement (SA) with Quill Trading Corporation and WMLC Resources to sell its entire shareholding in SOCO Cabinda Limited in Angola for $5 million.SOCO Cabinda Limited holds a 22 percent, non-operating, working interest in the production sharing contract for the Cabinda North Block, Angola.The long stop date for satisfaction or, where applicable, waiver of the SPA conditions was 30 September 2018.SOCO said on Friday: “SOCO is pleased to confirm that all substantive conditions precedent to the transaction have been irrevocably satisfied or waived. To allow a brief period to undertake the necessary mechanics of completion, the parties have agreed a further extension of the SPA long stop date to 5 October 2018. An update will be provided to the market when completion occurs.”The completion of the sale of SOCO Cabinda will mark SOCO International’s exit from Africa.The sale agreement in July followed Soco’s sale of its Congo offshore assets for $10 million to Coastal Energy late in June, covering a 40.39% operated interest in each of the Lidongo, Viodo, Lideka, and Loubana exploitation permits within the former Marine XI Block, located in shallow water offshore Congo (Brazzaville).The company’s only remaining assets are in Vietnam where Soco holds interests in three offshore blocks.Offshore Energy Today Staff
Elba Island LNG (Image courtesy of Kinder Morgan)WoodMac expects 2019 to be LNG FID yearThe year 2019 could be a major one for final investment decisions (FID) on new liquefied natural gas projects, according to the research and consultancy group Wood Mackenzie.US Elba Island LNG export project pushed back againUS energy company Kinder Morgan said on Wednesday that the start-up of its Elba Island liquefied natural gas (LNG) export project near Savannah, Georgia had been pushed back, again.Saipem nets Tortue LNG workItalian oil and gas contractor, Saipem has reportedly snagged a deal to provide FEED services for Tortue LNG facility offshore Africa.Report: ExxonMobil inks 20-year China LNG supply dealUS energy giant ExxonMobil has reportedly signed a framework agreement to supply liquefied natural gas (LNG) to China’s Zhejiang Provincial Energy Group.FERC issues EIS for NextDecade’s Rio Grande LNGNextDecade Corporation said it has been granted a Federal Energy Regulatory Commission (FERC) draft environmental impact statement (EIS) for its Rio Grande LNG project in South Texas. LNG World News Staff