Stellar Banner, a very large ore carrier (VLOC), is listing badly to the starboard side off the coast of Brazil.
VLOC Stellar Banner is a 300,660 dwt vessel operated by Polaris Shipping.
All 20 crew members have been evacuated from the vessel which is about 100 kms off the Brazilian coast.
According to the charterer Vale, rescue efforts are underway in collaboration with the maritime authorities.
Pictures of the vessel circulating on social media show the vessel grounded and heavily listing.
According to Refinitiv data, the vessel was bound for Qingdao, China with 275,000 tonnes of iron ore.