News Brief:

Shipbuilding News:

* CSICL sells loss-making arms

* BV acquires Chongqing Liansheng

* COSCOCS boxship sector combined

* Korea’s ship exports plummeted

* Oshima wins four more 'Lakers' BCs

Shipping News:

* Asia-Europe container freight rates falls 10%: source

* VLCC tanker rates could find support moving forward on reduced availability

Steel News:

* Iron ore at 4-month high on China stimulus hopes, eyes 3rd weekly gain

Energy News:

* Oil jumps as traders close short positions, US producers cut rig count

Biz China:

* China to revise individual income tax

* Baltic Dry Index

BDI      349         ()

+7

()

BCI      164          -2

)

     (BPI      386 +12

BSI      371         ()

+8

BHSI    232         ()

+5

* TC Avg ($/day)

BCI  5T/C     2,221          ()

-15

()

BPI  4T/C     3,098         +94

BSI  6T/C     3,875         ()

+79

* Exchange Rate

USD / KRW   1,208.5

USD / RMB    6.5113

* Crude Future ($/barrel)

WTI       36.20

Brent     38.88