Read all the latest news about Cyber crime. ShippingWatch gives you independent, credible, critical and fair news.
Cyber attacks, a new global, financial challenge and fluctuations in the energy crisis hold the potential to hit the shipping sector hardest in the next decade, say key industry stakeholders in a new report from Global Maritime Forum.
Cyberangreb har potentiale til at ramme shippingbranchen hårdt i de kommende ti år, vurderer nøgleaktører i branchen i en ny rapport fra Global Maritime Forum.
Cyberangreb, en ny global, økonomisk krise og udsving i energipriserne har potentiale til at ramme shippingbranchen hårdest i de kommende ti år, vurderer nøgleaktører i branchen i en ny rapport fra Global Maritime Forum.
Several shipping and logistics CEOs eye higher growth prospects for this year compared to 2017, shows a new survey from PricewaterhouseCoopers. However, digitalization and environmental regulations cause concern.
The financial losses from cyber attacks now exceeded losses generated by natural catastrophes, says insurer Munich Re. Several insurance companies expect that the market for insurance against hacker attacks will double within a few years.
China's Cosco is in the process of getting its Americas business back under control following last week's cyber attack. The shipping company expects to have communication with customers "back on track" this week.
All vessels are operating normally and primary business systems are performing stably, writes Cosco in a lengthy announcement to customers regarding its recent cyber attack. However, several systems in the impacted region remain down.
There is no way for the shipping sector to technically protect itself from hackers monitoring emails and attempting to trick the companies out of money, says Cyberkeel founder Lars Jensen. Ultrabulk was able to stop a payment in the nick of time.
It could have ended with a money transfer from XO Shipping to criminals. But the word "Dear..." made CEO Ejner Bonderup's colleague stop and wonder, because beyond that the hacker's method was – almost – impenetrable.
Thorco Projects, owned by the Stadil family, was tricked by a hacker last year who had taken over a well-known customer's email identity. The shipping company had to go to court to get the money back from the bank.
Did the cyber attack last summer only cost Maersk an amount in the range of USD 250-300 million, as the group maintains? Several analysts are speculating if the number might actually be twice as high.
A.P. Moeller-Maersk, which has already been attacked once by hackers last year, has suffered another such attack, though the event has escaped public notice. Specifically, sensitive personnel data has been stolen from a Maersk-owned shipping company, reports Maritime Danmark according to Børsen.
Russia was behind the large cyber attack this summer, which hit Maersk and resulted in huge extra costs for the company.
The market for cyber insurances is new and plagued by immaturity, says Maersk, which has been hit by hacker attacks in the past. Insurance broker agrees with the Danish transport company.
Kim Aarenstrup comes straight from the center for cyber crime at the Danish police. Going forward, he will protect DSV against hacker attacks. "It's a matter of finding the holes before the criminals," he tells ShippingWatch.
There is no doubt at DFDS: Today's hackers are so good that it is simply a matter of time before they wreak havoc at the carrier. CFO Torben Carlsen tells ShippingWatch how DFDS can best protect itself against the threat.
The Turkish mafia controlled parts of the Port of Antwerp for years. This led to defeats for container carriers MSC and Hamburg Süd in two remarkable court cases.
Carriers have realized that they need to insure themselves against loss of earnings in the event of hacker attacks. Insurance companies report growing interest after the cyber attack against companies including Maersk in June.
Maersk Line is now more or less back at full speed after the carrier took a bit hit from the Petya virus as part of a global hacker attack in late June.
Maersk has installed new IT systems to secure itself better against potential cyber attacks in the future, reports Reuters.
When the delays were at their worst, Maersk vessels arrived a little over 24 hours late on average. But the delays were short-lived, according to a new analysis by SeaIntel. The IT problems are almost over, says Maersk Group.
APM Terminals has been warned several times about its inadequate IT security at the Rotterdam terminals. Most recently in 2016, the port's management asked Maersk to deal with the problem, according to Dutch newspaper de Volkskrant, reports Danish media Berlingske Business.
Maersk is discussing compensation liability with individual customers, but the top priority is to bring the IT systems in order, says Robbert van Trooijen, Managing Director for Asia and the Pacific Region at Maersk Line.
The hacker attack last week might cost the Maersk Group more than USD 50 million in lost freight and bookings, says Alphaliner.
Almost half of the world's top 50 container carriers are unprepared for potential hacker attacks, determines an analysis from SeaIntel. The industry has a disturbingly low level of cyber security, SeaIntel writes, after Maersk Group was victim of a major cyber attack last week.
Senior Market Research Analyst in UltraBulk
Head of Performance Management | Lyngby (Denmark) - GreenSteam
Vetting Manager - NORDEN
Corporate Finance Analyst for Group Treasury - Bunker Holding
