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[Sankyeong Today = Reporter Park Myung-joon]
HMM’s multipurpose vessel Namu, which was struck by unidentified aerial objects in the Strait of Hormuz, has arrived in Dubai and entered a comprehensive damage assessment and repair review. With confirmed damage to the hull and engine room, industry officials say repair time and costs are likely to exceed initial estimates.
On May 11, HMM said it is coordinating with a local shipyard to determine the scope and method of repairs and to assess parts availability. The company does not expect the ship to return to service quickly.
On May 4, the Namu was hit twice by unknown aerial objects in the Strait of Hormuz, with roughly a one-minute interval between strikes. After towing and other emergency measures, the vessel reached Dubai on May 8.
Photos released by the government and its investigation show a breach about 5 meters wide and roughly 7 meters deep on the portside stern plating. Internal hull frames have buckled inward and portions of the outer plating are pushed outward. Investigators also documented fire damage, perforations and equipment loss in the engine room.
Because the vessel is a 38,000‑ton‑class multipurpose freighter that only entered service earlier this year, HMM faces a significant financial hit. Vessel prices are typically in the tens of billions of KRW (roughly tens of millions of USD), and the company will likely face both repair bills and lost revenue while the ship remains out of service.
Industry officials say the incident highlights risks on Middle East routes that go beyond damage to a single vessel.
With tensions around the Strait of Hormuz, ancillary costs such as war‑risk insurance premiums, fuel and crewing expenses have already risen sharply.
The Korea Shipping Association reports that South Korean carriers stranded near the Strait of Hormuz were incurring additional losses of roughly 490,000,000 KRW (about $367,500) per day as of the end of March. If shipping delays and cargo disruptions persist, the actual cost burden could climb further.
The Namu had been scheduled to proceed to China after discharging cargo in Saudi Arabia, but the attack interrupted those plans. Prolonged repairs could affect follow‑on contracts and vessel deployment schedules.
Insurance recovery remains uncertain. The Namu carries war‑risk coverage that could pay up to 100 billion KRW in the event of a total loss (about $75 million). Actual payouts will depend on damage estimates and insurers’ determinations.
An industry source said, “Repair costs are significant, but the revenue gap while a ship is idle and the additional costs tied to route risk could create an even larger burden. If instability in the Middle East persists, it will continue to pressure the overall cost structure of domestic shippers.”
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