According to Mining News Pro - In a statement, Vale said the ship, which is 100 km off the Brazilian coast, is owned and operated by the South-Korean company Polaris.

The ship’s commander issued an emergency satellite alert on Tuesday and took the vessel to a sandbar.

A crew of 20 people has been evacuated.

The ship was heading to the Chinese city of Qingdao with 275,000 tons of iron ore, according to Refinitiv data.

The port authority in Maranhao said the ship is stranded with an iron ore load. Vale did not immediately comment on that.

Shares in Vale were down more than 9% on Wednesday, following global concerns about the spread of a new coronavirus.