News Brief:

Shipbuilding News:

* Dae Sun nets domestic Chem TK deal

* HHIC to receive additional aid  

* Creditors agreed to issue RG for HHIC

* SHI workers suggest wage freeze

* Korea records ‘0’ NB sales in April

Shipping News:

* Chemical shipping freight rates to remain firm

* Shipping leaders see no upturn for containers and bulk for two more years

Steel News:

* Vale looking at selling US$10b of its core assets, CEO says

Energy News:

* Oil rally loses momentum: Kemp

Biz China:

* Foreign direct investment rises 4.8% on high-tech, manufacturing

* Baltic Dry Index

BDI      579        (-15)

BCI      713        (-39)

BPI      583        (+2)

BSI      560         (-7)

BHSI    349        (-3)

* TC Avg ($/day)

BCI  5T/C     5,521      (-425)

BPI  4T/C     4,660       (+14)

BSI  6T/C     5,854        (-72)

* Exchange Rate

USD / KRW   1,168.1

USD / RMB    6.4959

* Crude Future ($/barrel)

WTI       45.99

Brent     47.32

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

212.00      224.00     385.00   395.00