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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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Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
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