Iron ore price, page-27414

Vale has released a statement on the fire. They say, no impact as there is a second ship loader at P4S. In a rare admission- they are stating that production is down anyway in January, due to the rainy season in the North, and that in 2021 they are shipping less than 230Mt anyway..

6 months maintenance for CN6, but loading to happen at half loading capacity rates on the Pier 4 berth after they "resume shipping activities at Pier 4S in the next few days.

So expect a Valemax ship at Pier 4S to load in 4 days instead of 2, once the berth is operational again.

It looks to me like Vale trying hard to underestimate the hit- but, no guidance downgrade, for now. Probably why the IO price is not at US$190

Anyway- as of today Pier IV South is still out of action. and that is 9 days now of a 25% lower loading capacity at PdM. No impact on shipments seems questionable.


PDM incident without impact on iron ore shipments and
production
Rio de Janeiro, January 21st
, 2021 - Vale S.A (“Vale” or “Company”) informs that a fire occurred on
January 14th in one of the eight ship loaders at the Ponta da Madeira Maritime Terminal (“PDM” or
“Port”), in São Luís, Maranhão. The fire was controlled, without casualties or environmental damage.
The affected site is under assessment and the causes of the incident are under investigation.
PDM has a nominal shipping capacity of 230 Mtpy and a total of three piers, five berths and eight ship
loaders. The incident occurred with ship loader6 (“CN6”), at the Southern berth of Pier IV ("P4S"). The
P4S has a second ship loader ("CN7"), which was not affected. The Company expects to resume
shipping activities at P4S in the next few days with CN7.
There will be no impact on the monthly iron ore shipment schedule, due to: (i) the Northern System
production seasonality, due to the rainy season in the North of Brazil, and (ii) the Northern System
expected production for 2021, below the shipping capacity of 230 Mtpy.
Vale expects to conclude the CN6 maintenance activities in the first half of 2021, therefore without
impacts on shipments and production in 2021.



CN6 is the second ship loader to the right (dark red)- CN7 is unaffected, but not operating just yet.