News Brief:

Shipbuilding News:

* Iran to place large NB orders to China

* Daewoo Shipbuilding to unveil new rescue plan

* S. Korean shipbuilders’ overseas businesses suffer from massive debts

* “No more boom period to come”

Shipping News:

* Dry Bulk Market: Up to 7% of shipping fleet could be scrapped by end of 2016, but only if rates start falling again

* Astomos’ VLGC to be first commercial tanker to transit expanded Panama canal

Steel News:

* Iron Ore Bust Follows Hard on Heels of China’s Speculative Boom

Energy News:

* Crude prices retreat on profit-taking

Biz China:

* China's infrastructure plan not another stimulus: Economist  

* Baltic Dry Index

BDI      600       (+21)

BCI      798       (+74)

BPI      597         (+8)

BSI      553         (-2)

BHSI    347         (0)

* TC Avg ($/day)

BCI  5T/C     6,286     (+734)

BPI  4T/C     4,768      (+59)

BSI  6T/C     5,780       (-22)

* Exchange Rate

USD / KRW   1,169.4

USD / RMB    6.5343

* Crude Future ($/barrel)

WTI       46.26

Brent     47.80

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

227.00      234.00     400.00   410.00