Fire at Brazil ore loading site contained: Vale

A fire at one of Brazilian iron ore producer Vale's ship loaders at the Ponta da Madeira Maritime Terminal has been contained, the company said.

The terminal, located in São Luís, Maranhão state, continues to operate, Vale said.

The cause of the fire, which erupted at dawn today, is under investigation. "The fire brigades and the fire department were activated and the fire contained without causing environmental damage," Vale said.

So far there is no major impact on iron ore freight rates as a result of the fire, market participants report.

By Nathan Walters