Brazilian miner Vale is set to sell a capesize bulker and is inviting offers for the ship, TradeWinds has learned.

The 169,100-dwt Ore Guaiba (built 1999) could likely fetch around $10m, brokers said.

The South Korean-built cape was purchased from Sincere Navigation for $36m in May 2009. estimates the 20-year-old ship is today worth $9.57m, the same as its potential demolition value.

Vale has an owned fleet of three capesizes remaining, all over 20 years old.

In previous years, the mining company has sold 12 VLOCs to Chinese interests and divested its older capesizes and ore carriers to Polaris of South Korea.

A number of capesize are being marketed for sale, but none have been sold successfully this year, as TradeWinds has reported.

Cash buyer GMS has said over 10 capesize bulkers have been sent sold for demolition as rates languished in the first quarter 2019.

Mine reopens

Back on the shore, Vale is resuming operations at its Guaiba Island Terminal (TIG) in Mangaratiba, Brazil, subsequent to obtaining an injunction from the local court.

Mangaratiba City Government in Rio de Janeiro state ordered the temporary suspension of port activities at the terminal on 11 March, but has lifted the interdiction following the court's decision.

"Vale reaffirms that it has all valid licenses and authorisations required for the regular operation of the terminal," the miner said in a release on Tuesday.

Meanwhile, Vale has been forced to cease operations at its Timbopeba mine in Ouro Preto, Minas Gerais, which produces 12.8m tons of iron ore per year.

Last Friday, a court granted a civil action brought by the state's Public Prosecution Office, which ordered Vale to refrain from any act related to use of the Doutor dam at the mine under daily penalty of BRL 500,000 ($132,410).

Vale has argued the dam was inspected last Thursday by National Mining Agency technicians, who determined it was structurally sound.