News Brief:

Shipbuilding News:

* Heung-a-Shipping Orders Tanker Pair from Dae Sun

* "Liquidation of STX not considered"

* Daewoo Shipbuilding to cut wages, sell assets to stay afloat: report

* DSME to move its headquarters

* JMU Clinches RoRo Order, Delivers Capesize Bulker

Shipping News:

* Ship Finance’s Boxships Duo to Start Work for Maersk

* Tankers: Asian LR tanker rates fall on weak demand to move distillates, naphtha

Steel News:

* China steel, iron ore futures post worst month on record; agriculture firmer

Energy News:

* Oil Set for Longest Run of Gains in 5 Years Before OPEC Meeting

Biz China:

* China's manufacturing PMI flat in May

* Baltic Dry Index

BDI      612          (+6)

BCI      854        (+24)

BPI      574          (-8)

BSI      580         (+1)

BHSI    351         (+4)

* TC Avg ($/day)

BCI  5T/C     6,346       (+171)

BPI  4T/C     4,650          (-33)

BSI  6T/C     6,051         (+35)

* Exchange Rate

USD / KRW   1,190.5

USD / RMB    6.5889

* Crude Future ($/barrel)

WTI       48.77

Brent     49.65

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

231.00      242.00     432.00   442.00