After the shipping company SeaLead terminated the charter contracts for sanctioned ships, the gap is now to be filled with purchases and charter contracts. A total of 16 ships in the charter fleet were affected by the US sanctions, forcing the company to change course.
The consultancy firm Linerlytica announced that SeaLead had chartered the 6,078 TEU “BZ Chongfu”, which was built in 2000, for two years from the Chinese owner Baozhou Shipping. The deal was concluded before the sanctions were imposed. Linerlytica explained: “The Singapore-based shipping company now has a significant tonnage shortage as it has terminated the charter contracts for the 16 vessels with a total capacity of 74,286 TEU and sizes ranging from 2,400 to 6,900 TEU. Redeliveries are already starting at the first ports of discharge. The process will take several weeks to complete.”
A SeaLead spokesperson told HANSA that the company has already chartered an 8,600 TEU vessel for delivery in 2026 and is negotiating to charter additional vessels for delivery in 2026. The spokesperson pointed out that the use of chartered vessels gives SeaLead the flexibility to adjust its fleet when market conditions are weak.
“Reduce fleet in unfavorable market conditions”
“Our focus remains on being the agile global shipping partner of choice,” it said. “This means that we will take advantage of market situations to achieve the most efficient cost model. Even without the unforeseen event, SeaLead will downsize its fleet in unfavorable market conditions and focus on the destinations where we see long-term potential.”
As a result of the return of the sanctioned ships, SeaLead has fallen from 13th to 20th place in the ranking of liner shipping companies. The US Treasury Department’s Office of Foreign Asset Control stated that the sanctioned ships are linked to Marvise SMC DMCC, a Dubai-registered company that is said to be part of a “vast shipping empire” controlled by Mohammad Hossein Shamkhani. The latter is the son of Ali Shamkhani, a senior political advisor to Iran’s Supreme Leader and former commander of the Islamic Revolutionary Guard Navy.
Linerlytica also announced that SeaLead has acquired the 2007-built “Formosa Container No. 4” (938 TEU) from Formosa Plastics Marine Corporation, the shipping arm of Taiwanese petrochemical manufacturer Formosa Plastics Group. The vessel, acquired for $7.5 million, has been renamed “Tanjong Pagar 1”. SeaLead owns only two vessels and operates 34 chartered vessels. The company spokesman added that SeaLead is willing to buy more vessels if their specifications and price are appropriate. (PL)
