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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Australian Coal Association
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
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