Singapore-headquartered SeaLead Shipping is being liquidated, marking the final chapter in one of container shipping’s most dramatic rises and falls of recent years.
Splash understands the company has moved into liquidation following sweeping US sanctions imposed last month that effectively cut the liner operator off from normal international business. The move comes little more than a year after SeaLead ranked as the world’s 13th-largest container carrier, operating 53 ships with more than 200,000 teu of capacity. By late July, its fleet had collapsed to just four vessels and its global ranking had fallen to 80th.
The decisive blow came on July 14 when the US Treasury’s Office of Foreign Assets Control directly…