Misses sleep on board ship (5)
I believe the answer is:
skips
'misses' is the definition.
(skipping is a kind of missing)
'sleep on board ship' is the wordplay.
'sleep' becomes 'kip' (synonyms).
'on board' is an insertion indicator (inserted letters are taken on board).
'ship' becomes 'SS' (prefix in ship names eg SS Great Britain).
'kip' put within 'ss' is 'SKIPS'.
(Other definitions for skips that I've seen before include "Large containers for rubbish" , "Waste containers" .)