News Brief:

Shipbuilding News:

* YZJ sets up new investment company  

* STX's seven tankers axed

* KOGAS to award repair work to domestic yard

* HHI-Saudi Arabia discuss yard construction

* Korea’s Big Three to Lose State Aid if Restructurings Fail?

Shipping News:

* Vale says sold three Valemax iron ore ships to ICBC for $296 mln

* Asia Tankers-VLCC Rates Expected to Soften

Steel News:

* Shanghai steel rises to near two-month high on low China stockpiles

Energy News:

* Oil prices rise on weaker dollar

Biz China:

* Central bank pumps more money into market

* Baltic Dry Index

BDI      677         (+17)

BCI   1,030         (+34)

BPI      691         (+29)

BSI      627          (+8)

BHSI    344          (+2)

* TC Avg ($/day)

BCI  5T/C     7,353        (+243)

BPI  4T/C     5,528        (+232)

BSI  6T/C     6,555          (+78)

* Exchange Rate

USD / KRW   1,151.0

USD / RMB    6.6472

* Crude Future ($/barrel)

WTI       48.38

Brent     49.90

* Bunker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

252.00      262.00     432.00   442.00