Shipbuilding News 2016/05/16

News Brief:


Shipbuilding News:


* Iran to place large NB orders to China


* Daewoo Shipbuilding to unveil new rescue plan


* S. Korean shipbuilders’ overseas businesses suffer from massive debts


* “No more boom period to come”




Shipping News:


* Dry Bulk Market: Up to 7% of shipping fleet could be scrapped by end of 2016, but only if rates start falling again


* Astomos’ VLGC to be first commercial tanker to transit expanded Panama canal





Steel News:


* Iron Ore Bust Follows Hard on Heels of China’s Speculative Boom





Energy News:



* Crude prices retreat on profit-taking





Biz China:


* China's infrastructure plan not another stimulus: Economist  






* Baltic Dry Index


BDI      600       (+21)


BCI      798       (+74)


BPI      597         (+8)


BSI      553         (-2)


BHSI    347         (0)






* TC Avg ($/day)

BCI  5T/C     6,286     (+734)

BPI  4T/C     4,768      (+59)


BSI  6T/C     5,780       (-22)




* Exchange Rate


USD / KRW   1,169.4


USD / RMB    6.5343






* Crude Future ($/barrel)

WTI       46.26


Brent     47.80




* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

227.00      234.00     400.00   410.00