The parent firm of STX Pan Ocean, the operator of Vale's stricken iron ore carrier, said on Tuesday it had confirmed cracks in the ship but that it was unlikely to sink, Reuters reports. The world's largest iron ore carrier is disabled and could sink at a key Brazilian port from where Vale, the world's No.2 mining company, loads about 10 percent of the global trade of iron ore, a steelmaking material.
"Sinking is the worst-case scenario. But we believe that the situation is not that serious," said a spokesman for STX group, the parent firm of STX Pan Ocean.
"Sinking is the worst-case scenario. But we believe that the situation is not that serious," said a spokesman for STX group, the parent firm of STX Pan Ocean.