Iron Ore Ship Disabled in Brazil

CNBC reported a South Korean-owned carrier chartered by Vale SA (SAO:VALE5) is disabled in a Brazilian port and loaded with iron ore.

As quoted in the market news:

The navy says in a statement Tuesday that two ballast tanks of the Vale Beijing sprung leaks on Sunday as it was being loaded in the port of Madeira.

Local media say the vessel is carrying more than 350,000 tons of ore.

Click here to read the full CNBC report.