Singapore-based SeaLead Shipping has ceased trading after US sanctions prevented the company from continuing its operations. SeaLead has filed for voluntary liquidation, while the company has appointed a liquidator. The shipping company said it remained solvent when it submitted the filing. Moreover, SeaLead maintains that its assets can cover all outstanding debts within one year. OFAC sanctions affect SeaLead operations The US Office of Foreign Assets Control (OFAC) sanctioned 16 vessels chartered by SeaLead. OFAC alleged that the vessels had links to Mohammad Hossein Shamkhani. He is the son of former senior Iranian official Ali Shamkhani. According to OFAC, Mohammad Hossein Shamkhani operated a network involved in transporting Iranian and Russian oil. The post SeaLead ceases trading following US sanctions appeared first on Container News .