WannaCry cyberattack and other huge IT outages prompt
warnings on vulnerability of shipping industry, as cost of average
attack rises to US$4 million per
incident
SINGAPORE, July 20, 2017 /PRNewswire/ -- IT protection and
cyber security will take centre stage at the biennial Seatrade
Offshore Marine and Workboats Middle East (SOMWME) exhibition and
conference, taking place at the Abu Dhabi National Exhibition
Centre (ADNEC) from 25 – 27 September
2017.
The focus on IT systems at sea follows the recent global
WannaCry attack, which shut down computers used by Spanish ISP
Telefonica, FedEX and the UK's National Health Service, among
others, affecting some 200,000 computers in 150 countries. This was
followed later in May with the British Airways outage, which saw
hundreds of flights cancelled over a holiday weekend and £500
million wiped of parent company IAG's value.
Peter Broadhurst, Senior Vice
President Safety & Security Services, Inmarsat, the mobile
satellite company, will deliver the keynote presentation in the
Knowledge Theatre, "Cyber Security: Protecting the Industry",
assessing the new risk factors of an increasingly connected
shipping industry and how industry players can protect themselves
against cyber security threats.
"Hacking, ransomware and system outages have long been a concern
for the shipping industry, particularly with the advent of the
Internet of Things (IoT) and the connected ship. These risks are
heightened due to the significant growth in networks of physical
objects accessed through the internet," said Broadhurst.
According to a 2016 global analysis report by the Ponemon
Institute, which surveyed data collected from 383 companies in 12
countries, the average total cost of a data breach stands at
US$4 million, a figure that has
increased 29% since 2013. The average cost per lost or stolen
record is $158, with a 15% average
price increase since 2013. In total, the number of security
incidents reported in 2015 stood 63% higher than in 2014.
Emma Howell, Group Marketing
Manager, Seatrade portfolio commented, "Over recent weeks and
months, we have seen huge organisations crippled by ransomware
attacks and IT meltdowns – compromising systems and costing some
businesses many millions of dollars. The need for the shipping
industry to tackle this growing menace head-on is greater than ever
before and we look forward to welcoming decision makers and
industry leaders to debate these important issues."
However, compounding the issue, insurance providers are yet to
close all of the gaps in their policies, leaving shipping companies
at even greater risk and facing huge financial losses.
"Most insurance policies have Cyberattack exclusion clauses, for
property damage and business interruption and this exposes shipping
companies and ship owners to huge risks. We have seen some response
from the insurance industry but until comprehensive products are
rolled out the responsibility of backing up systems, protecting
data and ensuring a network is robust and secure, very much remains
with the shipping company and ship owner," added Howell.
Staying with the technological theme, the SOMWME 2017 programme
will also feature sessions on SMART solutions, covering developing
technologies such as automation and predictive maintenance,
alongside design and development of a new generation of specialised
offshore vessels, with confirmed speakers including; Arnstein Eknes, Business/Segment Director
Special Ships, DNV GL, Oskar Levandar, SVP Concepts &
Innovation, Rolls-Royce; and Alexander Nürnberg, Managing Director,
MacGregor.
Elsewhere on the Seminar programme, discussion will turn to
green and efficient vessels for the future.
Seatrade Offshore Marine & Workboats is the largest workboat
and offshore marine event outside of the USA, attracting more than 200 offshore marine
and workboat companies.
For more information and event updates, contact Emma Howell, Group Marketing Manager, Seatrade
Portfolio: Tel: +44 1206 545121;
or log on to www.seatradeoffshoremarine.com.
About UBM's maritime portfolio – connecting customers
globally
UBM plc is the largest pure-play B2B Events organiser in the
world. In an increasingly digital world, the value of
connecting on a meaningful, human level has never been more
important. At UBM, our deep knowledge and passion for the
industry sectors we serve allow us to create valuable experiences
where people can succeed.
At our events people build relationships, close deals and grow
their businesses. Our 3,750+ people, based in more than 20
countries, serve more than 50 different sectors – from fashion to
pharmaceutical ingredients. These global networks, skilled,
passionate people and market-leading events provide exciting
opportunities for business people to achieve their
ambitions.
For more information, go to www.ubm.com; for UBM corporate news,
follow us on Twitter at @UBM, UBM Plc LinkedIn
About Inmarsat
Inmarsat plc is the leading provider of global mobile satellite
communications services. Since 1979, Inmarsat has been providing
reliable voice and high-speed data communications to governments,
enterprises and other organizations, with a range of services that
can be used on land, at sea or in the air. Inmarsat operates around
the world, with a presence in the major ports and centres of
commerce on every continent. Inmarsat is listed on the London Stock
Exchange (ISAT.L). For more information, please visit
www.inmarsat.com.
The Inmarsat press release newsfeed and corporate updates are on
@InmarsatGlobal.
Media Contact
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SOURCE Seatrade Communications