Image: SeaLead
By Alison Koo
Singapore-based SeaLead Shipping has ceased trading after US sanctions impeded operations.
The liner operator filed for voluntary liquidation in late July, and on Monday, Cosimo Borrelli of Admiralty Asia Partners was appointed the liquidator.
Last Friday, Sealead declared it was solvent. With net assets of $37.4m, its directors affirmed that Sealead could repay all its debts within a year of the start of winding-up proceedings.
At its peak, SeaLead specialised in liner services to and around the Persian Gulf, and even dabbled in transpacific routes as container freight rates reached…