Baltic Dry Index Hurtles to Record Low
▻https://www.porttechnology.org/news/baltic_dry_index_hurtles_to_record_low
Drewry recently estimated that if dry bulk ship-owners collectively removed half of all capesize ships over 12 years old, equating to around 20 million dead weight tonnage of capacity, it would enable their earnings to return to profitability by 2018.
If they were to remove all old capesize vessels the recovery would occur even sooner. This could be achieved through a combination of scrapping and temporary vessel idling.