This discussion has highlighted to me that the BDI is as much an indicator of the supply of ships as it is the demand for ships which is reflected through the price of cargo. Normally don't cut&paste, but the below from wiki highlights how young cargo ships are at this time. It appears that the BDI is returning to its long term level around the 1000 to 2000 level, which may be a good thing for everyone.
As of 2010[update], container ships made up 13.3% of the world's fleet in terms of deadweight tonnage.[37] The world's total of container ship deadweight tonnage has increased from 11 million DWT in 1980 to 169.0 million DWT in 2010.[38] The combined deadweight tonnage of container ships and general cargo ships, which also often carry containers, represents 21.8% of the world's fleet.[39]
As of 2009[update], the average age of container ships worldwide was 10.6 years, making them the youngest general vessel type, followed by bulk carriers at 16.6 years, oil tankers at 17 years, general cargo ships at 24.6 years, and others at 25.3 years.[40]
