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1.Market Observations, 8.Was Sticky

15 Feb 2020 (AFR) – Billions at stake as coronavirus sparks commodity crisis

(15 February 2020, AFR, p10, Patrick Durkin, BOSS Deputy Editor)

‘Billions in LNG, coal and iron ore contracts with China are at risk of being re-negotiated in the wake of the coronavirus, lawyers warn as they face off over “force majeure” claims. The escalating legal drama comes as major companies including Rio Tinto, Blackmores, Cochlear and the tourism, education, retail and casino sectors, reveal the growing cost of the outbreak. The country’s biggest LNG importer China National Offshore Oil Corporation shocked markets last week after advising it would not take delivery of contracted cargoes because of the coronavirus.’

Read more at AFR.com (might need AFR login access)

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