11-12 December 2018

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Protect your business: the maritime sector needs to assess the cyber threat now

As crews get smaller and vessels get bigger, shipping companies increasingly rely on automation and remote monitoring, creating opportunities for criminals to hack into crucial systems and this cyber criminality is predicted to cost the industry US$6 trillion by 2021. This sector accounts for 90% of the world's freight and the threat is real. Ahead of the inaugural Cyber Security for the Maritime Sector conference (11th – 13th December 2017), we had the opportunity to get an insight from the Department for Transport on the maritime sector’s current position on cyber threats.

Are regulations necessary to counter the cyber threat in the maritime sector?

The shipping industry has been subject to cyber attacks in recent years and the maritime sector is waking up to the threat. Some advances have been made, such as the guidelines published by the IMO in July, or the ones drafted by BIMCO or Intercargo. The question is, is this enough? Is there a need for regulations? What role do international organisations such as the IMO and the European Maritime Safety Agency (EMSA) play on enforcing international regulations?