{"id":16457,"date":"2026-07-29T17:52:44","date_gmt":"2026-07-29T17:52:44","guid":{"rendered":"https:\/\/tgia.sosimplestudio.co\/?p=16457"},"modified":"2026-07-29T17:52:44","modified_gmt":"2026-07-29T17:52:44","slug":"expanding-marine-and-logistics-insurance-business-amid-the-trade-war-by-mr-juthawat-pengsri-chairman-of-the-marine-and-logistics-insurance-committee","status":"publish","type":"post","link":"https:\/\/tgia.sosimplestudio.co\/en\/expanding-marine-and-logistics-insurance-business-amid-the-trade-war-by-mr-juthawat-pengsri-chairman-of-the-marine-and-logistics-insurance-committee\/","title":{"rendered":"Expanding Marine and Logistics Insurance Business Amid the Trade War, by Mr. Juthawat Pengsri, Chairman of the Marine and Logistics Insurance Committee"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Mr. Juthawat Pengsri, Chairman of the Marine and Logistics Insurance Committee,<\/strong> spoke about global changes across various dimensions, whether the retaliatory tariff measures of President Donald Trump, which sparked a trade war severely impacting the global economy, geopolitical tensions, and conflicts in many regions \u2014 all of which directly and significantly impact international trade and shipping.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tariff measures and trade restrictions between the United States and its trading partners worldwide, particularly the &#8220;Trump 2.0&#8221; measures, have forced many operators to quickly adapt, whether by relocating goods, changing shipping routes, or port switching, to reduce dependence on trade with the United States, including accelerating imports-exports in advance during certain periods. In addition, some are implementing a strategy of changing the country of origin (Change Origin) to avoid the impact of tariff measures and international trade restrictions. This trend reflects the complexity and new risks of the global trade system, including new risks that the marine and logistics insurance business must monitor closely.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to data from the Office of the National Economic and Social Development Council, Thailand&#8217;s export value in Q2\/2025 was 84,171 million US dollars (approximately 2.79 trillion baht), expanding by 15.0%, while import value was 78,883 million US dollars (approximately 2.61 trillion baht), expanding by 16.8% compared to the same period the previous year, reflecting the impact of retaliatory tariff measures driving front-loading of imports.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But on the other hand, cargo insurance premium growth in Q2\/2025, the same period, contracted by 4.3%, showing a significant mismatch. The apparent growth in import-export value may not fully reflect Thailand&#8217;s actual trade demand, since some of it may involve the use of Change Origin strategies, which may not be genuine Thai exports or imports, and this is an important challenge that the marine insurance business must watch closely and adapt to in time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the domestic transport and logistics business sectors still benefit from this trade growth, while the international transport sector still faces risks from war and geopolitics, such as the Russia-Ukraine war, the Israel-Hamas conflict, attacks on cargo ships in the Red Sea and the Strait of Hormuz. Statistics on accidents during transport from other risk factors also continue to grow, such as cargo ship fires occurring every 2-3 weeks, containers being swept overboard in severe weather, and cyberattacks that have caused foreign ports to halt operations for several days. There was also the incident of the Dali ship colliding with a bridge in the United States, which reinforced that damage from a single accident can cause losses worth several billion US dollars and immediately disrupt the global supply chain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Amid these challenges, &#8220;insuring cargo with domestic insurance companies&#8221; is therefore an important risk management tool for Thai operators, with advantages such as:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1. Receiving continuous coverage through to the destination warehouse, reducing the &#8220;coverage gap&#8221; where foreign insurance policies often end at the port.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2. Having bargaining power on premiums, coverage terms, and claims consideration standards, allowing operators to know and understand the coverage terms of that particular shipment in advance, without worrying whether the insurance policy attached by the foreign seller covers the risks the operator actually needs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">3. Having clear claims procedures, easy communication in Thai, and being under the supervision of the Office of Insurance Commission.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">4. Supporting Thailand&#8217;s insurance industry to be strong, able to stand alongside operators amid intense global competition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Insuring cargo with domestic insurance companies is not only a tool for operators to manage risk from unexpected events, but also a strategic mechanism to support the strength of the Thai economy amid geopolitical and global trade uncertainty. Building correct understanding and choosing insurance appropriately will be a shield that helps strengthen the stability of Thai businesses and boost the competitiveness of the Thai economy on the global stage.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mr. Juthawat Pengsri, Chairman of the Marine and Logistics Insurance Committee, spoke about global changes across various dimensions, whether the retaliatory tariff measures of President Donald Trump, which sparked a trade war severely impacting the global economy, geopolitical tensions, and conflicts in many regions \u2014 all of which directly and significantly impact international trade and [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":9510,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","footnotes":""},"categories":[49],"tags":[],"committee-type":[],"release-year":[28],"class_list":["post-16457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-events-en","release-year-28"],"acf":[],"taxonomy_info":{"category":[{"value":49,"label":"News &amp; Activities"}],"release-year":[{"value":28,"label":"2568"}]},"featured_image_src_large":["https:\/\/tgia.sosimplestudio.co\/wp-content\/uploads\/2025\/09\/2-27-1024x681.jpg",750,499,true],"author_info":{"display_name":"ai-team","author_link":"https:\/\/tgia.sosimplestudio.co\/en\/author\/ai-team\/"},"comment_info":0,"category_info":[{"term_id":49,"name":"News &amp; Activities","slug":"news-and-events-en","term_group":0,"term_taxonomy_id":49,"taxonomy":"category","description":"","parent":0,"count":426,"filter":"raw","cat_ID":49,"category_count":426,"category_description":"","cat_name":"News &amp; Activities","category_nicename":"news-and-events-en","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/posts\/16457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/comments?post=16457"}],"version-history":[{"count":0,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/posts\/16457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/media\/9510"}],"wp:attachment":[{"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/media?parent=16457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/categories?post=16457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/tags?post=16457"},{"taxonomy":"committee-type","embeddable":true,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/committee-type?post=16457"},{"taxonomy":"release-year","embeddable":true,"href":"https:\/\/tgia.sosimplestudio.co\/en\/wp-json\/wp\/v2\/release-year?post=16457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}