 |
Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] A vessel operated by HMM that was struck near the Strait of Hormuz will undergo repairs at a major shipyard in Dubai, according to industry sources on May 28.
The vessel, Namu, has been moved to Drydocks World Dubai, the largest ship repair facility in the Middle East, where repair work is now planned. Earlier uncertainty over the availability of necessary parts locally has been resolved, allowing repairs to proceed on site.
The repair process is expected to take at least two months, given the complexity of damage to the vessel’s stern section. Total repair costs remain uncertain and will depend on the scope of work and local conditions.
The vessel is insured under both hull and war-risk policies with multiple South Korean insurers, including Hyundai Marine & Fire Insurance, Samsung Fire & Marine Insurance, DB Insurance, Hanwha General Insurance, and KB Insurance. The maximum compensation is estimated at approximately KRW 100 billion in the event of total loss.
South Korean authorities have indicated that the attack likely involved an Iranian-made anti-ship missile, based on debris recovered from the vessel.
During the repair period, some crew members have been rotated out at their request, while the majority remain on board.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
