# Panamax vessels lose out in Q3 as shifting grain trade boosts smaller bulk carriers

> IFCHOR GALBRAITHS research says Panamax wheat and corn shipping demand fell by 27.65 billion tonne-miles in Q3 2026 versus the 2023–2025 average, about 1.4% of segment demand. Supramax gained 10.15 billion tonne-miles and Handysize gained 1.53 billion as grain flows shifted away from Russia, Ukraine and Brazil's corn exports.

- Date: 2026-11-03 · published 2026-11-04T00:11:28.792Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/78583-panamax-vessels-lose-out-in-q3-as-shifting-grain-trade-boosts-smaller-bulk
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower Panamax grain demand weakens freight rates for the largest grain-carrying ships, while smaller vessels pick up cargoes. Shifts in origin also change landed feed grain costs for importers.

## Read by commodity

- CORN: neutral
- WHEAT: neutral
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-11-03 | [Grain trade a boon as Brazil's Itaqui seeks higher shipping volumes](https://feedsoft.ai/events/67882-grain-trade-a-boon-as-brazil-s-itaqui-seeks-higher-shipping-volumes.md) | -5.1% | -4.6% |
| CORN | 2018-04-25 | [Incident Video: Bulk Carrier Crashes Into Dock at Argentine Grain Hub](https://feedsoft.ai/events/65594-incident-video-bulk-carrier-crashes-into-dock-at-argentine-grain-hub.md) | +2.4% | +5.0% |
| CORN | 2024-07-17 | [La Ñina boosts the Panama Canal; Houthi threat drives up shipping costs through the Suez](https://feedsoft.ai/events/17016-la-nina-boosts-the-panama-canal-houthi-threat-drives-up-shipping-costs-through.md) | +2.6% | -1.3% |
| CORN | 2019-04-26 | [The future of the Panama Canal: What’s next for grain and coal shipping - FreightWaves](https://feedsoft.ai/events/59492-the-future-of-the-panama-canal-what-s-next-for-grain-and-coal-shipping.md) | +0.6% | +5.3% |
| CORN | 2024-09-30 | [Bulk carriers freight rates from Ukrainian ports have increased \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/28514-bulk-carriers-freight-rates-from-ukrainian-ports-have-increased-ukrainian-and.md) | +1.0% | -0.6% |
| WHEAT | 2017-01-16 | [Vessels of Project RSD49, Neva-Leader type, were actively used by North-Western Shipping Company for grain transportation in 2016](https://feedsoft.ai/events/72855-vessels-of-project-rsd49-neva-leader-type-were-actively-used-by-north-western.md) | +0.4% | +5.6% |
| WHEAT | 2024-09-30 | [Bulk carriers freight rates from Ukrainian ports have increased \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/28514-bulk-carriers-freight-rates-from-ukrainian-ports-have-increased-ukrainian-and.md) | +0.6% | -6.3% |
| WHEAT | 2024-10-04 | [Canada: Grain trade reputation on the line](https://feedsoft.ai/events/27888-canada-grain-trade-reputation-on-the-line.md) | -5.2% | -6.7% |

## Sources

- hellenicshippingnews.com: https://www.hellenicshippingnews.com/panamax-vessels-lose-out-in-q3-as-shifting-grain-trade-boosts-smaller-bulk-carriers/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.