Part of the ship said to be holed (4)

I believe the answer is:

hold

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'part of the ship' is the definition.
('hold' is part of 'ship')

I can't explain the remainder of the clue.

(Other definitions for hold that I've seen before include "Nelson?" , "See 12" , "Contain" , "Maintain" , "Have or possess" .)

I've seen this clue in the Evening Standard.

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