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