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Brazilian court halts Vale's Brucutu mine, BDI falls below 1,000 pointsBrazilian court halts Vale's Brucutu mine, BDI falls below 1,000 points

Brazilian courts have again halted operations at Vale’s Brucutu mine, and the Baltic Dry Index (BDI) has dropped back below the 1,000 points level.

Marcus Hand, Editor

May 7, 2019

1 Min Read
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Vale said on Monday that the Minas Gerais Court of Justice (Tribunal de Justiça do Estado de Minas Gerais had reversed a ruling by a lower court which allowed the mine to reopen last month.

“Vale reiterates that the Laranjeiras dam and all the other geotechnical structures of Brucutu have valid Declaration of Stability (DCE) issued by external auditors in March 2019, and is taking the appropriate measures related to the decision,” the Brazilian mining giant said.

The courts ordered the closure of the Brucutu in early February following the fatal dam collapse in Brumadinho.

The closure of Brucutu ha heavy impact on the dry bulk shipping market with Vale saying it would lose 30m tonnes in iron ore production on top of 40m tonnes lost from the decision to decommission 10 dams.

The BDI lost 4.55% on Monday to close as 985 points having moved back above the 1,000 points range last week.

Vale reiterated its 2019 iron ore and pellets sales guidance of 307-332m tonnes with the miner saying it was likely to be the lower – middle of the range.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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