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Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
 Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between China and the West — and China and the U.S., in particular. However, there are far-reaching effects that have not been contemplated fully beyond the intuitive assessment.
Things move slowly. China has long been known as a country with patience, which in business language translates to longer lead times in the transactional arena, sometimes exhaustive negotiations, and relationships are built over time. Many of these relationships are created in the environment of trade shows, conferences, information exchange platforms, and trade delegations. China has finely tuned this method of cross-border introductions and it is a continuous process.
Combined with this is the growth of the multinational business presence in China. Major retailers, manufacturers, pharmaceuticals, biotech, automotive and other sectors are firmly planted in China with technology and personnel. Now, with the essentially closed border with China, the rest of the world waits and watches. To the business community, this is unsettling, to say the least, because there is no accurate predictor of when a vaccine may be found or when the world threat eradicated. Even when those pronouncements are ultimately made by Beijing there is the inherent distrust of information disseminated by the Chinese government.
So what does all of this mean for cross-border business in the short and long term?
An aerial view reveals that the movement of people and technology and deal closure have simply come to a halt. When the Chinese government, or other governments, or the WHO pronounce that it is safe to travel to China again, that will not be the end of it. There has been a worldwide reaction to the scare. The tradeshow and related cancellations have occurred not only in China but throughout Asia and into Europe. Therefore, a wide swath of activities are upended across all business sectors.
The rate of new cases slowed on Wednesday. As of this writing, there have been more than 45,000 cases of Covid-19 and over 1,100 deaths. Businesses from cruise ships to luxury brands and air travel, as well as global markets like oil, have all been hit. There can be no question that it will be a slow and painful process moving back to normalcy. Professional offices remain closed indefinitely, and 90% of businesses are closed or at dramatically reduced hours. Theaters, factories and others where people congregate are closed.
We are all familiar with the recent comparisons of coronavirus with SARS, but there is no real comparison. SARS was perceived as essentially a Hong Kong-centric event and everyone wondered if that would be the death of the HK economy, coming a few years after the handover. Moreover, social media and its impact on global interaction were just launching, and China’s interaction with the world economy was in its infancy.
Transparency will be the key to short term confidence which will lead to a long-term recovery. This is despite short-term pain and embarrassment. All governments can learn a lesson from this, but Beijing has yet to learn it. It may very well be that Wuhan, as ground zero for the Coronavirus, never recovers. The headlines today paint Wuhan as a pariah city, in a wartime battle and in lockdown. The Chinese Chernobyl. These characterizations will not be easily shed. Wuhan, as the capital of Hubei province, has positioned itself as a foreign investment hub and has developed trade, manufacturing and export and development zones to highlight its growth and position within China. Companies will have to assess whether or not their investments should remain in Wuhan or be moved.
Considering China’s impact on the world economy, China will not be off limits to future investment forever. Instead, there will be wariness and unbridled caution for the foreseeable future. Businesses will seek alternatives to avoid commercial and liability issues.
In the best case, returning to normal is not a reasonable expectation in the short term. In the long term, China must take all steps necessary to demonstrate its commitment to transparency regarding all factors relating to the virus. In today’s economy, there are many alternatives for trade and investment and China must recognize that its global trade partners need regular and repeated reassurances. Additionally, China will need to inject substantial financial incentives into the economy to balance against commercial and optical risks.
In the best of circumstances, this process will take six to nine months to see the way forward to a stable and commercially feasible reintroduction of business, confidence and renewed investment. This will require unrelenting adjustments as events require. There is no single action or vaccine that will erase the impact of the coronavirus. A group of actions are needed to restore the zeal and excitement for consumer, business, investment and tourism.
Anything less will create a lingering atmosphere of caution and distrust.
Source: CNBC
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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
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