Shipping weekly- US exports driving gas and product markets higher- VLGCs surge on strong activity and tight vessel availability;the increase in US Gulf and LPG exports helped drive VLGC rates from lows of $10,000/day to around $20,000/day, but with the Middle East market seeing higher volumes, VLGCs have spiked to levels closer to $40,000/day – MR rates push higher even with declining floating storage numbers; the resurgence in MR rates has been driven primarily by increased activity in the Atlantic market, with higher US Gulf volumes again the main driver Cape rates ease back despite healthier steel market backdrop- The dry bulk market is under pressure with declining rates to $17,000/day last week from $25,000/day the previous week;Capes had peaked in early July at nearly $34,000/day as higher iron ore activity from both Australia and Brazil tightened vessel capacity- Clarksons Platou Securities, July 27, 2020 Jefferies Shipping Weekly- Not Just Iron Ore, But Also Oil From Brazil To China- Brazilian oil producer Petrobras said that up to 70% of total oil exports were heading to China as Asia’s largest importer seeks to increase inventories while crude prices remain low- This percentage may remain even when domestic demand in Brazil recovers and OPEC+ relaxes production cuts and exports more to Asia- Jefferies Maritime Group, July 27, 2020