The second approach involves incorporating cybersecurity clauses in vendor contracts. This proactive investment fortifies the most vulnerable links in the chain, ensuring they meet industry standards and contribute to the overall security of the industry. As time passes, vendors will come to recognize the critical nature of these services and assume the associated costs. Two methods were proposed: making cyber defense services available to vendors and incorporating cybersecurity requirements in vendor contracts.įirstly, companies can invest in cyber defense services for their principal vendors and incorporate these services into their own comprehensive cybersecurity response plan. However, they must consider the next level – securing their vendors. Even if your company is well-protected, a breach at any link in the chain – like a bunker provider that can’t deliver fuel or a terminal provider that can’t handle your cargo because of a ransomware attack on their systems – could put your operations at risk.Īccording to Bhalotra, companies that have invested in cybersecurity for years and have a trustworthy and tested team are doing a good job. As often stated, “you’re only as strong as the weakest link.” Major cybersecurity incidents, such as the attack on Maersk in 2017, have spotlighted the vulnerability of this sector. In an industry where shippers, carriers, bunker providers, and service providers are intertwined, the risk of cyber-attack extends to the entire supply chain.

The interconnected nature of the shipping industry presents unique security challenges. Speaking at the Marine Money Week Conference in New York yesterday, Sameer Bhalotra, Co-founder & CEO of ActZero, a ABS Wavesight partner, emphasized the critical role of cybersecurity measures in vendor contracts and partnership agreements. By John Konrad (gCaptain) In the age of increased cyber threats and vulnerabilities, safeguarding a business extends beyond the perimeter of one’s organization.

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