Booming spot rates for capesize bulkers may prompt charterers to start using panamaxes as a cheaper alternative to carry commodities, according to brokers.

The capesize 5TC, a spot-rate average weighted across five key routes, on Thursday came in at $74,176 per day after losing $610 per day, according to Baltic Exchange data.

The panamax 5TC, by comparison, reached $36,119 per day after shedding $216 per day.