Vale preparing for potential fuel leak from damaged ore carrier

Vale (NYSE: VALE) said on Thursday it has begun preparations for a potential fuel leak from the damaged iron ore carrier MV Stellar Banner, which is stranded off the Brazilian northern coast.

Vale said in a statement it requested that oil company Petrobras appropriate ships to deal with the possible leak and has arranged for the dispatch of oceanic buoys to the area.

The MV Stellar Banner, owned by South Korea’s Polaris, had only started its trip to China carrying 275,000 tons of iron ore when it was stranded.

(By Marcelo Teixeira; Editing by Chris Reese)