News Brief:

Shipbuilding News:

* Four More Ships Added to Hyundai Heavy’s Orderbook

* Frontline Snaps Up VLCC Quartet from Metrostar

* South Korea’s Shipbuilding Industry is Losing Its Competitive Edge

* S. Korea ranks 6th in ship orders for Jan-May

Shipping News:

* Greece Keeps the Lead as Largest Ship Owning Nation

* Dry bulk FFA market: Charterers make hay even when the sun don’t shine

Steel News:

* Chinese steel, iron ore futures drop to three-month lows

Energy News:

* Oil prices drops amid weak data, OPEC meeting

Biz China:

* China service sector growth slows in May

* Baltic Dry Index

BDI      610          (+4)

BCI      913        (+59)

BPI      550         (-10)

BSI      574          (-1)

BHSI    349          (-5)

* TC Avg ($/day)

BCI  5T/C     6,754      (+316)

BPI  4T/C     4,393         (-83)

BSI  6T/C     5,998         (-10)

* Exchange Rate

USD / KRW   1,189.6

USD / RMB    6.5497

* Crude Future ($/barrel)

WTI       48.91

Brent     49.83

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

230.00      240.00     430.00   440.00