G2 Ocean has had to significantly bolster its IT security department. The shipping company notes an increasing cyber threat, and it is growing as shipping has become more digital, CEO tells ShippingWatch.
When an external consultant mistakenly clicked on a link in a phishing mail in July, he opened up for access to "compromising material" about Norden. The company informs that the access was limited and that procedures have been tightened. A month something similar happened again.
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, 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.
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.
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.
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.
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.