This is the AREA of the "bottom". I would expect that BDI 700 will be revisited as the delivery of vessels still to come this year will absolutely SWAMP all slight increases in demand. When you see these little one week, two week blips on the indices, there is always a reason. The problem is there is not going to be a reason for the indices to STAY up for more than a short time for at least a year to come.
So cheer if you want, but for the rates to go from absolute CRAP up to merely DISMAL is not very exciting to me. Much like putting a band aid on a sucking chest wound, it won't help, won't last and the outcome is pretty much certain with or without the feeble attempt at aid.