Baltic Dry Index breaks 3,000 points in more than a decade

The Baltic Dry Index (BDI) has crested the elusive 3,000-point mark during a months-long rally in dry bulk shipping that has been driven mostly by China's bottomless appetite for iron ore.

The BDI on Thursday hit 3,007 points, venturing into this territory for the first time in almost 11 years. The index last achieved 3,020 points on 15 June 2010.