Vale's expected 40 million tonne cut in annual iron ore output as a result of closing 50 tailing dams may hurt first-quarter dry bulk shipping demand a bit, Star Bulk Carriers' Petros Pappas said.
The closures after the 25 January breach of Brazil's Fiejao dam may drop drybulk shipping demand by 1.25% as the mineral is sought from "closer places", the chief executive said.
