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