Feature

Singapore cargo underwriters prepare to cancel Red Sea war risk cover

Cargo carriers' wait-and-see approach has been pushed to the limit and are poised to go the way of hull insurers by issuing cancellation notices.

By Blake Evans-Pritchard

January 16, 2024

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5 min read

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Market conditions continue to evolve as businesses review their priorities and plans for growth. The pace of change varies across the region, with local factors shaping how organisations respond.

Attention is turning to the balance between near-term opportunities and longer-term objectives. Decisions made today will help determine how businesses adapt as conditions develop.

While the outlook remains varied, the broader direction reflects a market adjusting to new demands. The implications will become clearer over time as plans move into practice.