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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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- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Australian Coal Association
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
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