The South Korean government has officially announced that the cause of the fire on the HMM Namoo was due to an "external impact," heightening tensions within the domestic shipping industry. Concerns are growing that other vessels waiting near the Strait of Hormuz could also become targets, leading to calls for measures to protect crew members and evacuate ships.
As of May 11, crew members of the Namoo are reportedly waiting on-site while investigations and inspections are conducted. Although there have been no requests for collective disembarkation or significant unrest, the prolonged state of tension has resulted in considerable psychological stress and fatigue among the crew.
Jeon Jeong-geun, chairman of the HMM Maritime Union, stated, "The crew of the Namoo is waiting calmly, but they appear to be under significant psychological pressure and shock. Disembarking from a war-risk area is a legitimate right for the crew, and we are prepared to facilitate immediate rotations if requested."
HMM has also indicated that it will expedite crew rotations for those who wish to disembark. The company noted, "We are currently focused on the ship's repairs and the investigation, and if any crew members wish to rotate, we will proceed immediately."
However, the challenge lies in the difficulty of executing crew rotations. Given the uncertainty of potential further attacks, finding replacements willing to enter a conflict zone is proving to be a complex issue.
As the ongoing conflict in the Middle East has led to prolonged maritime waiting periods, there is a growing trend among crew members to avoid assignments on Middle Eastern routes. An industry insider remarked, "Initially, many crew members were willing to take on Middle Eastern assignments due to high war-risk allowances and wages, but the atmosphere has changed dramatically since the attack on the Namoo. Recently, families have been urging crew members to disembark or avoid Middle Eastern routes altogether."
Currently, there are approximately 26 South Korean vessels and around 160 South Korean crew members in the vicinity of the Strait of Hormuz. The industry and government are monitoring the supply of essentials such as drinking water and food daily, but reports indicate that the psychological fear among crew members has reached critical levels.
Shipping companies are also facing escalating financial burdens. The combination of difficulties in crew rotations, rising war insurance premiums, and increased fuel costs has led to soaring operational expenses. According to the Korea Shipping Association, the additional costs incurred by fleets stranded near the Strait of Hormuz are estimated to be around 400 million won per day.
Particularly, the industry is closely watching the implications of the government investigation results on the global insurance market. With war insurance premiums and rates already rising for the region, the confirmation of actual attack incidents is expected to further increase the financial burden on shipping companies.
Some are even raising concerns about a potential logistics shutdown originating from the Middle East. Kyu-hoon Koo, president of the International Logistics Association, stated, "Even if hostilities cease, supply chain disruptions and logistics delays will persist for some time. Given that the Middle East is a critical hub for global oil and logistics flows, any escalation of anxiety could have a cascading effect on the shipping and logistics markets as a whole."
* This article has been translated by AI.
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