News Brief:

Shipbuilding News:

* China spent $1.9bn to encourage industry

* KEB issues RG for HHI's LNGC

* HHI labor agreed on strike

* Korean subcontractors form join council

* "Slow ordering activity in 2H"  

Shipping News:

* CMES Receives Scrapping Subsidy from China

* VLCC market on backwards mode

Steel News:

* Iron ore heads for third weekly drop in four as steel sours

Energy News:

* Moody’s ups oil price forecast to $40 for 2016

Biz China:

* Home price rise moderates in May

* Baltic Dry Index

BDI      587        (-11)

BCI      927        (-49)

BPI      546         (+1)

BSI      555         (+1)

BHSI    311          (-3)

* TC Avg ($/day)

BCI  5T/C     6,533        (-405)

BPI  4T/C     4,361          (+9)

BSI  6T/C     5,805        (+17)

* Exchange Rate

USD / KRW   1,170.8

USD / RMB    6.5708

* Crude Future ($/barrel)

WTI       48.32

Brent     49.42

* Bunker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

227.00      238.00     415.00   425.00