The Indian National Shipowners Association (INSA) is believed to be on the hunt for a new chief executive officer following the abrupt resignation of incumbent Anil Devli.

Devli’s departure is widely believed to have come about due to his decision to accept a role as an independent director at tanker operator Seven Islands Shipping.

Although INSA has yet to comment on Devli’s resignation officially, reports by Indian media outlets indicate that he tendered his resignation at the end of July after he was questioned about his position as a Seven Islands director by the association’s board.

The INSA board ultimately decided that Devli’s position as a director at Seven Islands, which is a member of INSA, could lead to a conflict-of-interest situation.

A source familiar with the matter told the Economic Times of India that Devli was asked to choose between INSA and Seven Islands and chose the latter.

Seven Islands, India’s second-largest private tanker company, cancelled its INSA membership in protest shortly afterwards, the Economic Times of India reported.

Seven Islands’ withdrawal from INSA is a significant blow for the organisation, which market sources said also had a falling out with the Shipping Corporation of India in 2019.

Indian shipping sources told TradeWinds that INSA has yet to reveal any candidates for Devli’s replacement and is unlikely to do so before its annual general meeting in September.

INSA, when contacted by TradeWinds, referred questions about the CEO’s departure to Devli himself. However, the former chief executive could not be reached at the phone numbers provided.