News Brief:

Shipbuilding News:

* Sainty Marine Becomes First Listed Shipbuilder to Go Bankrupt

* Navig8 receives TK duo from Korea

* Sumitomo saw 67% down in new orders

* Sanoyas won six BCs in last 9 months

Shipping News:

* Chinese and Greek ship owners accounted for 40% of global recycling in 2015, 9.6m GT

* Baltic index edges higher on improved demand for smaller vessels

Steel News:

* Iron Rally Toward $50 May Reverse, Australia’s Top Mill Says

Energy News:

* Oil prices rise on International Energy Agency's report

Biz China:

* Reform spurs growth of new firms, jobs

* Baltic Dry Index

BDI      316         ()

+1

()

BCI      197        -10

)

        (BPI      350 -5

BSI      298        ()

+12

BHSI    200         ()

+2

* TC Avg ($/day)

BCI  5T/C     2,578          ()

-64

()

BPI  4T/C     2,810          -34

BSI  6T/C     3,111       ()

+116

* Exchange Rate

USD / KRW   1,233.2

USD / RMB    6.5273

* Crude Future ($/barrel)

WTI       33.31

Brent     34.54