International shipping is one of the oldest and one of the most important areas of global commerce. According to the International Chamber of Shipping:
- “About 90% of world trade is carried by the international shipping industry. Without shipping, the import/export of affordable food and goods would not be possible”
- “Ships are technically sophisticated, high value assets (larger hi-tech vessels can cost over US $200 million to build), and the operation of merchant ships generates an estimated annual income of over half a trillion US Dollars in freight rates.”
Naturally, significant IT infrastructure is required to operate and maintain the shipping industry’s economy of scale. Cyber security vulnerabilities in this industry are dangerously disruptive and have been quite costly.
For example, Moller-Maersk, the worlds largest container ship and supply vessel company incurred hundreds of millions in U.S. dollar losses due to the NotPetya wiper malware.
“In its second quarter earnings report, Maersk executives said they were expecting losses between $200 million and $300 million. The lost revenue, they said, was due to “significant business interruption” because the company was forced to temporarily shutter critical systems infected with the malware.”
Astonishingly, the NotPetra attack was entirely preventable had industry best practices been followed and enabling vulnerabilities and been addressed.
This is where Optimum Cyber Systems, Inc can help prevent this type of costly activity. Our cyber security consulting practice can uncover the many different types of vulnerabilities and other issues that enable threat actors and malware authors to successfully disrupt the shipping industry.
Let our expert consultants assesses your risks and help you find the most effective solution: