I read (most of) the eighth edition for a class on ocean marine insurance. While it does not cover insurance topics precisely, it thoroughly reviews how the business of shipping functions and the history of various parts of the business. It's definitely dry and difficult to read a lot at a time, but the information is very interesting. I know many people in my industry refer to it frequently.
If you're in the cargo industry (and therefore have a reason to read it), it's definitely worth reading, otherwise it may be hard to get through.