Fallout from the 25 January breach of Vale's Feijao dam and ensuing dam closures will not be known for some time, Navios Maritime Holdings chief executive Angeliki Frangou says.

"I think it's too early to know," she said today during the company's fourth-quarter earnings call.

"We'll be waiting to see how this will proceed overall. I think this is an early stage where Vale has to make decisions."