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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, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- London Commodity Brokers - England
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
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