Singapore-based shipping company SeaLead, whose operated vessels were included on the latest U.S. sanctions list, has reportedly terminated the charter agreements for 16 ships following the sanctions.
The Singapore-based container carrier SeaLead has been forced to restructure its fleet after canceling charter agreements for 16 container ships in response to new U.S. sanctions. This decision came just days after the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced new measures targeting vessels allegedly linked to Iranian interests.
The sanctioned ships had been chartered by SeaLead for some time and were operating on various regional and long-distance routes. The company confirmed that all affected charter agreements were immediately canceled as of last weekend.
The 16 vessels represented about one-third of SeaLead’s active operating tonnage. Replacing this capacity will be a difficult task, given the current tightness in the global charter market where available ships are scarce and prices are high. The loss of the fleet has caused SeaLead to drop from 13th to 19th place in Alphaliner’s global liner rankings.
Established in Singapore in 2017, SeaLead does not own any vessels and has grown rapidly by relying entirely on chartered tonnage.
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