News Brief:

Shipbuilding News:

* CMA CGM Orders Four Boxships from COSCO Zhoushan

* Creditors Approve HHI’s, SHI’s Rescue Plans as DSME Rolls out New Cuts

* DSME puts off delivery of two offshore plants

* Shipbuilders to Compete Neck and Neck for New Orders

Shipping News:

* HMM approved to join new shipping alliance

* Shipping doesn’t have much to celebrate as Posidonia International Exhibition Draws Near

Steel News:

* POSCO retakes 4th place in global steel production

Energy News:

* Oil prices seen crossing $60 this year

Biz China:

* China's central bank injects more liquidity in May

* Baltic Dry Index

BDI      612           (0)

BCI      861         (+7)

BPI      568          (-6)

BSI      578          (-2)

BHSI    355         (+4)

* TC Avg ($/day)

BCI  5T/C     6,541       (+3)

BPI  4T/C     4,543      (-46)

BSI  6T/C     6,044      (-19)

* Exchange Rate

USD / KRW   1,192.2

USD / RMB    6.5688

* Crude Future ($/barrel)

WTI       48.91

Brent     49.63

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

226.00      237.00     427.00   437.00