Navios Maritime Holdings opened an iron ore marine terminal in Uruguay that was part of a dispute with iron ore miner Vale.

The South American logistics arm of the New York-listed bulker owner inaugurated the facility in Nueva Palmira. The terminal had been developed over the last four years at a total capital cost of some $150m.

The facility can transship 10 million tonnes per year of iron ore with a loading rate of some 3,900 tonnes per hour.