The grounding of the "dream ship" intended to hugely improve domestic shipping services in the Cook Islands is a major setback for owners Taio Shipping.
Its director Josiah Taio said it was "back to square one" for the company with just two ships supplying the northern and southern groups.
An inquiry was underway into how the 40-metre Moana Nui ended up on the Nassau reef last Thursday during a spate of rough weather.
A three-man insurance team has travelled to inspect the ship.
Mr Taio said the Moana Nui, which completed an epic delivery journey from Norway just last October, was to put an end to the outer islands going weeks without supplies.
But he said the company will keep operating its other two ships, the Lady Moana and the Maungaroa II, and is aiming for as little disruption as possible.