The capesize bulker sector made good headway this week due to strong tonnage demand from Brazil and Australia.

The Baltic Exchange’s capesize 5TC, a spot-rate average across five key routes, logged a seven-day gain of 36.4% days to hit $32,733 per day on Friday.

“The capesize market had the wind in its sails as rates jumped in all regions,” Baltic Exchange analysts wrote on Friday in their weekly wrapup on the dry bulk market.