Being without oxygen somehow deters shipworms (7)

I believe the answer is:

teredos

'shipworms' is the definition.
(I've seen this in another clue)

'being without oxygen somehow deters' is the wordplay.
'being without' is an insertion indicator.
'oxygen' becomes 'O' (atomic symbol for oxygen).
'somehow' indicates an anagram.
'deters' with letters rearranged gives 'tereds'.
'o' placed into 'tereds' is 'TEREDOS'.

I've seen this clue in The Guardian.

Want a hint initially instead of a full solution? Install my app