Updated Cyber Security Guide released

The guidance includes several improvements on the November 2018 version, including general updates to best practice in the field of cyber risk management, and as a key feature, includes a section with improved guidance on the concept of risk and risk management.

The improved risk model takes into consideration the threat as the product of capability, opportunity, and intent, and explains the likelihood of a cyber incident as the product of vulnerability and threat. Thus, the improved risk model offers explanation as to why still relatively few safety-related incidents have unfolded in the maritime industry, but also why this should not be misinterpreted and make shipping companies lower their guard.

“In recent years, the industry has been subjected to several significant incidents which have had a severe financial impact on the affected companies,” says Dirk Fry, chair of BIMCO’s cyber security working group and Director of Columbia Ship Management Ltd.

“While these incidents have had little or no safety impact, they have taught us some very important lessons which have been incorporated into the new version of the guidelines,” ads Fry.

”With the increased connection of devices and systems to the internet, more opportunities will present themselves and more vulnerabilities in need of safeguarding will emerge in the future,” says Fry.

“Cyber security is an arms race between the attackers and the defenders, where the attacker has the luxury of first choice of weapon. Because we can never be 100% secure in such circumstances, we must extract all the learnings we can from past events. We should be capable of quickly recovering from incidents because we know they will most likely occur at some point. Drawing on the most recent experiences from the industry and beyond, the new version of the guidelines will help us achieve just that,” Fry says.

The report can be downloaded here