News Brief:

Shipbuilding News:

* CSIC merges two shipyards

* DSME’s inglorious No.1 in orderbook

* Korean Banks Hit Hard by Shipbuilding Woes

* Korean banks opt for cliff-hanging loan relief for Samsung Heavy Industries  

Shipping News:

* Box Shipping Rates Fall as East-West Price War Rages on

* Capesize rates set to diverge on weak sentiment, tight tonnage

Steel News:

* Dalian iron ore rebounds after two-day drop, but outlook shaky

Energy News:

* Oil could shed more than half its value to $20, analyst says

Biz China:

* Individual loans account for half of all new loans in May

* Baltic Dry Index

BDI      598          (-6)

BCI      976        (-24)

BPI      545           (0)

BSI      554         (+2)

BHSI    315         (-1)

* TC Avg ($/day)

BCI  5T/C     6,938      (-232)

BPI  4T/C     4,352         (-4)

BSI  6T/C     5,788       (+19)

* Exchange Rate

USD / KRW   1,170.1

USD / RMB    6.5795

* Crude Future ($/barrel)

WTI       46.00

Brent     47.28

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

230.00      240.00     425.00   435.00