It is very low but not so out of the norm. Problem seems to be oversupply of shipping brought on by the huge bubble of 2008-2009. BDI was over 10,000 in 2008, 2009. Then cratered. Companies built tons of huge container ships for China market etc. For a perspective check out this site. Shows BDI from inception in 1985.
https://people.hofstra.edu/geotrans/eng/ch7en/conc7en/bdi.html
We went through this with the overbuilding of very large crude carriers for oil. It took a while for the market to absorb that capacity.