The capesize bulker market improved for the second consecutive day as the panamax bulker sector continued a slide that began a week ago.

The Baltic Exchange’s Capesize 5TC, a spot-rate average across five key routes, gained 12.5% over the past two days to $24,214 per day on Wednesday.

The average spot rate for the C10 route, which covers a roundtrip voyage between China and Western Australia, saw the biggest two-day leap in the capesize sector, leaping 37.7%