Singapore-based container carrier SeaLead has been forced into a dramatic fleet reshuffle after terminating the charters of 16 container vessels in response to fresh US sanctions. The move comes just days after the US Treasury’s Office of Foreign Assets Control (OFAC) unveiled new measures targeting ships allegedly linked to Iranian interests.
The sanctioned vessels had been on hire to SeaLead for some time, operating on various regional and long-haul services. The company confirmed that all affected charters were cancelled with immediate effect late last week.
The 16 vessels represented roughly one-third of SeaLead’s active operating tonnage. Replacing that capacity will be a tall order given the current tightness in the global charter market, where available ships are scarce and rates remain elevated. The fleet loss sees SeaLead slip from 13th to 19th in Alphaliner’s global liner rankings.
Founded in Singapore in 2017, privately held SeaLead has no owned ships, instead relying entirely on chartered tonnage, which has allowed it to scale quickly.