Sponsored By

Maritime cyber risk weighs heavily, according to new report

Cyber security tops industrial risk list, but marine professionals believe companies are better prepared and investing more in cyber security.

Paul Bartlett, Correspondent

November 13, 2024

2 Min Read
image: DNV

More than two thirds of a survey group of almost 500 individuals carried out by DNV believe that their industrial assets are more vulnerable to cyber attack than ever before, and that cyber security is now the greatest risk faced by their companies.

Although more than 70% expressed these views, the survey also found that 61% believe that greater cyber risk should be accepted if digitalisation facilitates more innovation and the development of new technologies in shipping. The maritime’s sector willingness to accept more risk in notably higher than other critical infrastructure sectors including energy, manufacturing, and healthcare, the report said.

Global shipping’s entire supply chain is now subject to more digital technologies which yield significant benefits in terms of efficiency, safety, and sustainability. High-bandwidth satellite communications is one of the most dramatic development, enabling real-time digital communication between ship and shore an the automation of many previously manual functions.

Perhaps most importantly, a new era of ship-shore communications provides support for seafarers as they come to terms with more digital systems and new operational technologies in their working lives at sea. In personal terms too, their communication with families and friends has been transformed although, sadly, not universally or on every ship.

Related:CMA CGM latest shipping victim of a cyber attack

But cyber developments increase the risk of attack. Most marine professionals believe that the industry is in control – more than eight in ten (83%) say their organisation has a good cyber-security posture, and seven in ten are confident that their organisations would resume normal business quickly after an attack.

Close to three quarters reveal that their organisations have increased their spending on cyber security this year compared to last. Backup systems are also being developed to prepare for instances of asset downtime, operational disruption, theft of data, physical injury, loss of life, or a grounding.

DNV Maritime CEO, Knut Ørbeck-Nilssen, commented on the report. “In the maritime industry, we must match our ambitions for digital transformation and decarbonisation with a steadfast commitment to securing our people, the vessels and the systems we rely on. Cyber-attacks represent a growing threat to the safety of the maritime industry today. We can innovate, progress, and take a lead in ensuring the resilience of our businesses and societies, but only if we truly manage cyber risk.”

About the Author

Paul Bartlett

Correspondent

UK-based Paul Bartlett is a maritime journalist and consultant with over four decades of experience in international shipping, including ship leasing, project finance and financial due diligence procedures.

Paul is a former Editor of Seatrade magazine, which later became Seatrade Maritime Review, and has contributed to a range of Seatrade publications over the years including Seatrade’s Green Guide, a publication investigating early developments in maritime sustainability initiatives, and Middle East Workboats and Offshore Marine, focusing on the vibrant market for such vessels across that region.

In 2002, Paul set up PB Marine Consulting Ltd and has worked on a variety of consultancy projects during the last two decades. He has also contributed regular articles on the maritime sector for a range of shipping publications and online services in Europe, Asia, and the US.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like