News Brief:

Shipbuilding News:

* Zodiac-COSCO in talks for LR2 newbuilds

* CSIC merges subsidiary shipyards

* China saw sharp drop in NB orders

* STX O&S might turn into ship repair yard

* Samkang M&T wins $1bn MOU

* Japanese Shipyards’ Orders Halved in May

Shipping News:

* Tanker supply “bites” VLCC market, as spot returns plunge to lowest levels in almost two years

* Asia Tankers-VLCC Rates to Climb Slowly

Steel News:

* China's two steel giants plan for restructuring

Energy News:

* China's crude oil output drops in May

Biz China:

* Minister calls for calm after Brexit

* Baltic Dry Index

BDI      609       (+13)

BCI      913       (+16)

BPI      585       (+16)

BSI      583         (+6)

BHSI    329         (+7)

* TC Avg ($/day)

BCI  5T/C     6,452       (+199)

BPI  4T/C     4,681       (+127)

BSI  6T/C     6,101         (+69)

* Exchange Rate

USD / KRW   1,168.5

USD / RMB    6.6375

* Crude Future ($/barrel)

WTI       47.81

Brent     48.43

* Bunker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

242.00      250.00     425.00   435.00