News Brief:

Shipbuilding News:

* Ouhua bags new 'Happy S' heavy lift vessel

* “Korea needs to benchmark Chinese case”

* HMM’s Restructuring Pushed to Late July

* Korea mulls over early ordering of gov't ship

* JMU bags Aframax TK duo

Shipping News:

* Hanjin Shipping to return 38 ships by 2017  

* Investor Discontent Rises at Japanese Shipping Lines Amid Losses

Steel News:

* Morgan Stanley Raises Iron Ore Outlook After Surprise Rally

Energy News:

* Oil prices increase after two-day slump

Biz China:

* China's inflation growth likely to slow in June

* Baltic Dry Index

BDI      627       (+18)

BCI      936       (+17)

BPI      618       (+17)

BSI      593         (+6)

BHSI    336         (+5)

* TC Avg ($/day)

BCI  5T/C     6,595      (+104)

BPI  4T/C     4,948      (+137)

BSI  6T/C     6,204        (+68)

* Exchange Rate

USD / KRW   1,175.9

USD / RMB    6.6324

* Crude Future ($/barrel)

WTI       48.06

Brent     49.49

* Bunker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

242.00      247.00     422.00   432.00