News Brief:

Shipbuilding News:

* COSCO Shipping Reshuffles Newbuilding Orders

* China Shipbuilding Selling Shares to Raise USD 586 Mn

* HHIC sells real estate worth $40m

* SHI labor council held rally

* Korea discusses ways to strengthen industry

Shipping News:

* Caribbean Aframax rates fall to lowest level in more than 5 years

* Oil Product Tankers Earnings Decline As Stockbuilding Slows Down

Steel News:

* Dalian iron ore firm, but off 7-week highs as steel steadies

Energy News:

* Oil prices rally on falling U.S. inventories

Biz China:

* China's rail freight decline narrows Jan-May

* Baltic Dry Index

BDI      640        (+13)

BCI      955        (+19)

BPI      634        (+16)

BSI      606        (+13)

BHSI    338         (+2)

* TC Avg ($/day)

BCI  5T/C     6,784       (+189)

BPI  4T/C     5,069       (+121)

BSI  6T/C     6,337       (+133)

* Exchange Rate

USD / KRW   1,164.7

USD / RMB    6.6312

* Crude Future ($/barrel)

WTI       49.55

Brent     50.94

* Bunker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

247.00      257.00     432.00   442.00