Singapore-headquartered container shipping and liner services specialist SeaLead is terminating all charterparties and contracts related to the sanctioned vessels and entities that have been added to the US Office of Foreign Assets Control (OFAC) sanctions list.
The rising player in the container shipping says it has been made aware that multiple vessels, chartered by the company for commercial purposes, have been added to the Office of Foreign Assets Control (OFAC) sanctions list.
The company said in a press release on Thursday: “SeaLead confirms the termination of all charterparties and contracts related to the sanctioned vessels and entities. The company maintains full compliance with applicable sanctions laws and regulatory requirements.”
SeaLead did not mention in its statement how many vessels chartered by the company had been sanctioned.
The shipping line said on July 31 that it maintains full compliance with applicable sanctions laws and regulatory requirements, affirming that “all SeaLead vessels and their ownership structure continue to be screened in line with the company’s robust due diligence processes which include a stringent sanction screening and Know Your Supplier (KYS) process.”
The company operates a fleet of 50+ vessels and covers 77 ports to serve its customers with the movement of their goods between the Far East, South East Asia, the Indian subcontinent, the Arabian Gulf, the Red Sea, the Mediterranean and Oceania, North America and South America.
Full Statement on July 31 by SeaLead
SeaLead has been made aware that multiple vessels, chartered by the company for commercial purposes, have been added to the Office of Foreign Assets Control (OFAC) sanctions list.
All SeaLead vessels and their ownership structure continue to be screened in line with the company’s robust due diligence processes which include a stringent sanction screening and Know Your Supplier (KYS) process.
SeaLead confirms the termination of all charterparties and contracts related to the sanctioned vessels and entities. The company maintains full compliance with applicable sanctions laws and regulatory requirements.
