BIMCO sees Brazil’s iron ore exports up 14.4% in first four months despite disruption scares
In the early hours of 22 April 2021, Vale – the Brazilian mining giant, was ordered to temporary suspend shipping activities at the country’s Guaiba Island terminal, a dedicated iron ore export terminal. Later that day, the hurdle was cleared, and activities could resume. Should the market worry when Brazil’s iron ore exports are disrupted? Now, that all depends on the terminal.
Ilha Guaiba, accounts for 7% of seaborne Brazilian iron ore exports. During February and March, 11 and eight Capesize ships departed the terminal, carrying an average of 220,000 tonnes of iron ore. All but one of them headed for China (source: Oceanbolt) and disruption at Guaiba Island terminal should not cause too much worry.
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