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