News Brief:

Shipbuilding News:

* HHI sells real estate worth $60m

* Hyundai Heavy Industries Returns to Profits in 10 Quarters

* HMD profit up 245% in 1Q

* "Gov’t-led merger of Big3 is unfeasible"

* Korean shipbuilders cut 15,000 jobs

Shipping News:

* Seaspan Reports Financial Results for the Quarter Ended March 31, 2016

* Is the sale of a 14-year old Post-Panamax Containership for Scrap a New Trend?

Steel News:

* Iron ore, steel slide as curbs tame China commodities

Energy News:

* Oil has bottomed as producers are ‘capped out’: RBC

Biz China:

* Reform policies set to rejuvenate northeast China

* Baltic Dry Index

BDI      704        (+14)

BCI   1,135        (+48)

BPI      718          (-9)

BSI      564         (+2)

BHSI    358         (+2)

* TC Avg ($/day)

BCI  5T/C     8,789       (+513)

BPI  4T/C     5,729          (-66)

BSI  6T/C     5,899         (+27)

* Exchange Rate

USD / KRW   1,149.7

USD / RMB    6.4837

* Crude Future ($/barrel)

WTI       44.64

Brent     46.26

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

202.00      211.00     372.00   382.00