News Brief:

Shipbuilding News:

* CSSC OME wins 3+2 MR tankers

* Chinese NB orders plunged by 62%

* HHIC Subic reaches 100th keel-laying

* DSME's halted LPG ship operation to resume

* Busan boosts offshore cluster

Shipping News:

* Cosco-China Shipping Group Merger Approval Expected by January

* VLCC rates stabilizing, while owners could see renewed gains thanks to strong West Africa demand  

Steel News:

* Lower steel mill rates in China could pressure iron ore prices: CISA

Energy News:

* Stein’s law says oil prices will rise: Kemp

Biz China:

* China provides over 30% of outsourcing globally: report

* Baltic Dry Index

)

BDI      528           (+12

()

BCI      731           +33

           ()

BPI      460 -1

BSI      467             ()

-2

BHSI    285             ()

-1

* TC Avg ($/day)

BCI  5T/C       6,409      ()

+756

()

BPI  4T/C       3,680         -13

BSI  6T/C       4,887         ()

-32

* Exchange Rate

USD / KRW   1,155.6

USD / RMB    6.3877

* Crude Future ($/barrel)

WTI       42.68

Brent     46.04

* Buker  (Singapore, $/ton)

 IF380      IFO180     MDO     MGO

223.00      235.00     419.00   429.00