Norwegian owner Frontline says it will recoup total costs of $6m arising from the mine attack on a tanker in the Middle East Gulf last year.
The explosion occurred on the 110,000-dwt Front Altair (built 2016) in June after it passed through the Strait of Hormuz in an attack blamed by the US on Iran.
The 23 crew were unharmed and the fire was extinguished within hours.
The ship remained afloat and was towed to Dubai for repairs, which were completed in November 2019.
Excluding amounts paid directly by its insurers, the total cost of repairs and related services for Frontline was $2.3m.
Total costs are expected to be recovered under its insurance policies. It has protection and indemnity cover through Norway's Gard.
In addition, the company has recovered $3.7m under its loss of hire insurance.
"This incident did not have a material impact on the company's results of operations or cash flows," Frontline said in its annual report.
"The company’s modern vessels are designed to withstand catastrophic events in order to ensure the safety of the crew and cargo," the company said last year.
The Norwegian Shipowners' Mutual War Risks Insurance Association estimated in 2019 that a series of attacks on tanker tonnage in the Middle East had resulted in losses in excess of $100m for the war risks insurance market.
TradeWinds has reported that the explosive devices on the Front Altair and the 27,000-dwt product tanker Kokuka Courageous (built 2010), a vessel that was attacked at the same time, were placed above the waterline.
This suggested they were attached to the vessels while they were underway in the Strait of Hormuz.
