The Brazilian mining company informed of the incident which was soon brought under control by the fire services without any victims or environmental damage.

The terminal remains operational, Vale said, while the cause of the fire is under investigation.

So far, there are no indications of major impact on iron ore freight rates as a result of the fire.

Ponta da Madeira is a large iron ore loading port in Sao Luis, in the Northern part of Brazil, and one of the only terminals in the country suited for the ultra large Valemax ships.

The Ponta da Madeira Maritime Terminal has been chosen as the terminal of the Estrada de Ferro Carajas, where trains unload iron ore for shipping overseas, mainly to Europe and Eastern Asia.