# Smaller Bulkers Outearn Panamaxes: What Is Driving the Earnings Reversal?

> Panamax earnings fell below Supramax and Handysize benchmarks by the end of October 2026 while smaller geared bulkers kept posting rising monthly averages. BRS Shipbrokers attributes the reversal to shifting grain flows, voyage duration changes and newbuilding deliveries, with Panamax at US$16,999/day at month-end.

- Date: 2026-11-13 · published 2026-11-13T03:10:22.135Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/97050-smaller-bulkers-outearn-panamaxes-what-is-driving-the-earnings-reversal
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Shifts in dry bulk vessel earnings change freight costs for grain and meal cargoes, which feeds into landed feed prices for buyers. The reversal mainly affects freight rather than commodity supply, so the direct effect on feed commodity prices is limited.

## Read by commodity

- OCEANFRT: neutral

## Sources

- xindemarinenews.com: https://www.xindemarinenews.com/news/2121073141024620546

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