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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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Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
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- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
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