Mining and construction machinery imports activity has fallen 90% over the last 12 months, the latest Skelton Sherborne Shipping Index has found.
According to the Index, imports decreased from August 2008 to June 2009, with figures reflecting a $351 million per month fall since the December high of $456 million.
“I don’t think the industry has ever seen such a drastic downturn in such a short space of time,” Skelton Sherborne director Brad Skelton said.
“Construction equipment volumes look much more doubtful as many of our customers already have large inventories on hand or idle equipment. Federal Government infrastructure funding seems to have had no discernable positive impact.”
Skelton’s Shipping Index reports grader imports are down 89% while mining and construction dump trucks are down 91%. Twelve tonne excavators and draglines are also down 91% since August, with a total of 26 units imported in June.
The report found that a total of 6105 machines were imported in the high of August last year, with a total combined value of $368 million.