Marine market rebalances amid choppy seas for shippers

Ship refuelling Credit: iStock/vladsv

The marine insurance market is undergoing a correction following years of soft conditions, as the maritime industry faces a number of emerging risks, including large containership fires, digitalisation and a slowdown in world trade, according to the International Union of Marine Insurance (IUMI). The marine insurance sector faces a “painful” period of adjustment, following a sustained period of unprofitability, said…

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