🔔 Subscribe to ShipUniverse Weekly →
The Baltic Exchange published its Week 46 dry bulk market report on Friday, November 13, 2026, showing higher weekly time-charter earnings across Capesize, Panamax, Supramax and Handysize vessels. Capesize earnings finished at $42,798 per day, up $3,403 from the previous Friday despite retreating from Thursday's $43,860 peak. Panamax earnings closed at $19,063 per day, Supramax at $23,203 and Handysize at $18,838. The Baltic Dry Index reached 3,020 points on November 12, an increase of 215 points from November 6. The week's market was supported by stronger Pacific iron ore activity, resilient Atlantic Panamax demand and a sharp recovery in US Gulf employment for smaller bulk carriers.
Capesize Leads the Rally. Smaller Ships Tell a Different Story.
The Baltic Exchange's November 13 market report shows weekly earnings gains across all four principal vessel classes, with sharp differences between Atlantic and Pacific trading routes.
Bar lengths compare dollar earnings per day, not the percentage changes. Representative TCE route baskets differ by vessel size, so the figures are not directly comparable with the profitability of an individual ship.
Western Australia to China freight climbed to approximately $15.20/tonne on Thursday before retreating into the $14.50–$14.60 range. Strong miner fixing helped drive the weekly gain.
Transatlantic cargoes and tighter prompt tonnage supported earnings. Growing vessel availability restrained Pacific rates despite Australian mineral activity.
North American grain and petcoke demand lifted Atlantic charter rates. Softer North Pacific and Indian Ocean business limited gains in the wider 11-route average.
US Gulf, South Atlantic and Asian fixtures provided support, while Continent and Mediterranean business remained more limited.
Five Sessions. Four Vessel Classes. Very Different Earnings.
Friday-to-Friday Baltic time-charter averages, supported by route assessments and the Baltic Exchange's completed Week 46 commentary.
Friday November 6 is the comparison baseline. Values for November 9–13 are the following five trading sessions. Both scrollbars move the table together.
Capesize 182,000-dwt 5TC; Panamax/Kamsarmax 82,500-dwt 5TC; Supramax/Ultramax 63,500-dwt 11TC; Handysize 38,200-dwt 7TC. These are four distinct representative route baskets. Do not confuse the 63,500-dwt 11TC benchmark with the smaller 58,000-dwt Supramax 10TC basket.
Friday assessment improved even as Capesize's overall 5TC average retreated.
Down $2,341/day on the day after a strong midweek recovery.
Indicated late-week fixing range in the Baltic Exchange's weekly report.
82,000-dwt vessel, subject to the delivery and redelivery terms of the individual fixture.
Representative route assessment, up $1,325/day on Friday.
39,000-dwt vessel open Mobile; voyage terms differ from the Baltic 7TC average.
What Do This Week's Baltic Rates Mean for Your Ship's Cash Flow?
Choose a bulk carrier class, adjust the spot rate and calculate illustrative owner earnings after operating expenses, off-hire and financing. Advanced mode adds a fixed-charter versus spot-exposure comparison.
Thirty-day illustrative margin before financing, reserves, tax and non-cash depreciation in Quick mode.
Earnings and Expense Bridge
The benchmark is above the selected owner cost threshold. That does not make an individual voyage profitable without verifying its actual charter terms and performance.
Rate Sensitivity: What If the Market Changes Next Week?
Each case retains the same vessel, operating period, off-hire assumptions and owner costs while changing the uncommitted spot portion of the market rate.
Modeled Cash Margin Across Market Rate Changes
The zero line separates positive from negative cash margins. The chart is based on the selected assumptions, not a freight-market forecast.
November 13 Closing Benchmarks
These figures are class-specific representative Baltic time-charter averages, not directly interchangeable rates for an individual vessel.
We welcome your feedback, suggestions, corrections, and ideas for enhancements.
Please click here to get in touch