Shipbuilding News:*

 Shanhaiguan bags Handysize BC * SWS awarded LR2 order from Greece* CEXIM strategically supports SWS* CSSC wins heavylifter sextet* HHI repeatedly wins Panamax VLGC * HHI denies Maersk option order * Sungdong gets more financial help

Shipping News:* Ship owners acquired 421 vessels of 30 million dwt during summer months, in shift towards second hand tonnage * Steep UKC VLCC freight rates thwarting fuel oil arb to Singapore
Steel News:* Iron ore plays chicken with the Fed
Energy News:* Oil prices rally amid falling output forecast
Biz China:* Decline in foreign exchange reserves narrows
* Baltic Dry Index)

BDI      841             (-28()

BCI   1,742            -118             ()

BPI      709 +9

BSI      676              ()-5

BHSI    384              ()-2

 * TC Avg ($/day)

 BCI  5T/C     12,193       () -1,020()

BPI  4T/C       5,680          +73

BSI  6T/C       7,072           ()-52

 * Exchange RateUSD / KRW   1,165.2USD / RMB    6.3505
* Crude Future ($/barrel)WTI       48.18Brent     51.76
* Buker  (Singapore, $/ton)  IF380      IFO180     MDO     MGO254.50      268.00     458.00   468.00