There is an ongoing debate about whether the shipping industry needs to evolve technologically in order to reduce the risks of cyber attacks. The Maersk cyber attack affected the maritime industry and without cyber risk management, it potentially impact the financial bottom line or even operations.
"While the maritime sector has certainly been aware of the cyber risk, in many entities, there are still too many stovepipes between IT and security. The sector is well versed in awareness of physical risk, and even modern day pirates. However, some have been slower to embrace the systemic nature of cyber risk from an actual operational perspective," Senior Policy Advisor Norma Krayem said.
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