By Alison Koo 5 August 2026Singapore-based SeaLead Shipping has ceased trading after US sanctions impeded operations. All vessels were technically managed by Draco Buren Shipping, a Singapore-registered company, also sanctioned due to alleged links to Mr Shamkhani. The company retrenched several employees and shut some foreign offices – once the 13th-largest shipping line, SeaLead tumbled out of Alphaliner’s top 100. Several other Shamkhani-linked companies were also named, including Aare Lines, Hansa Shipping, Lubeck Shipping, Volta Shipping, and WeFreight Shipping. The Loadstar understands that until the end of last month, SeaLead’s Malaysian subsidiary, SeaLead Shipping Malaysia, was still trying to book cargo as an NVOCC, but that shipping lines had become wary of taking its business.