News Brief:

Shipbuilding News:

* Torm raises funds for LR2 tanker quartet

* KDB to Finalize SHI’s Self-Rescue Plan This Week

* HHIC to turn black, first in three years

* HHI in talks with HMC, Meritz to sell securities unit

* NB investment “lowest in 35 years”

Shipping News:

* Hanjin Shipping to Sell Vietnamese Terminal Stake

* Oil tankers face choppy seas as wave of new ships weighs on rates

Steel News:

* China’s Baosteel to slash capacity through 2018 in supply-side reform

Energy News:

* China Oil Demand Fell 2.7% Year over Year in May

Biz China:

* China's economic growth decreases in Q1, domestic private investment weakens

* Baltic Dry Index

BDI      711         (+7)

BCI      987          (-4)

BPI      809       (+10)

BSI      666       (+15)

BHSI    358         (+2)

* TC Avg ($/day)

BCI  5T/C     7,044         (-41)

BPI  4T/C     6,469        (+85)

BSI  6T/C     6,968      (+161)

* Exchange Rate

USD / KRW   1,144.0

USD / RMB    6.6891

* Crude Future ($/barrel)

WTI       46.57

Brent     48.13

* Bunker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

246.00      256.00     418.00   428.00