Vale ordered to suspend operations at Brazil’s Guaiba terminal
The mining giant has been ordered by local government to temporarily stop shipping services from its Guaiba iron ore terminal in Brazil just as the capesize market was surging on higher volumes from the country
The halt at the terminal, which handles an average of about 60,000 tonnes per day, comes as a time of surging capesize rates, which have gained 70% since the start of the month