A bulk carrier owned by Thailand-based Precious Shipping remains unable to depart the Arabian Gulf, illustrating the continuing effect of regional security tensions on commercial shipping operations.

Precious Shipping said in its third quarter financial results that the Singapore-registered ship, Hatthaya Naree, with a carrying capacity of 39,000 dwt, is still waiting for conditions to allow a safe departure from the region.

The ship was re-delivered to its owner in Hamriyah, United Arab Emirates, in early March, just after the conflict between the United States, Israel and Iran began. It has since been anchored in the Arabian Gulf, unable to transit the strategically important Strait of Hormuz due to security concerns.

Precious Shipping chartered the bulker on a time basis on 24 June but the vessel has not been able to resume its onward voyage under the charter. The company said the vessel is still in the area until it is safe to pass through the strait.

Fleet risk highlighted by previous attack

The situation is particularly important for Precious Shipping, as the company already faced losses during the conflict.

On 11 March, the Mayuree Naree, another company vessel, was attacked while transiting the Strait of Hormuz. There were 23 people on the ship’s crew, three of whom died in the incident.

The damage to the bulker was so severe that it was later declared a constructive total loss.

The financial impact of the incident was reported by Precious Shipping in its second-quarter results, which included $10.98 million in war-risk insurance proceeds. The sum covered the loss of the vessel and statutory payments for the affected crew members.

The continued presence of the Hatthaya Naree in the Arabian Gulf therefore indicates the broader operational and financial challenges that shipowners face in the region. The vessel is still unable to continue with its voyage, although it has secured a charter commitment until the security situation improves and safe passage through the Strait of Hormuz can be guaranteed.