Fallout from the 25 January breach of Vale's Feijao dam and ensuing dam closures will not be known for some time, Navios Maritime Holdings chief executive Angeliki Frangou says.
"I think it's too early to know," she said today during the company's fourth-quarter earnings call.
"We'll be waiting to see how this will proceed overall. I think this is an early stage where Vale has to make decisions."
Her company's Navios South American Logistics in early 2017 completed work on a new iron-ore terminal in Paraguay that can handle 10 million tonnes of minerals per year.
Yesterday, Safe Bulkers chief executive Polys Hajioannou said Vale's temporary closure of 50 tailing dams after the Feijao disaster and US-China trade tensions may cause scrapping to quadruple to 20 million tonnes in 2019.
Last week, Star Bulk Carriers chief executive Petros Pappas said Vale's expected 40-million-tonne cut in annual iron-ore output may drop first-quarter bulker need by 1.25%.
