Cybercrime could result in lost trade equivalent to US$3T in 2020, according to Pascal Ollivier, president of Paris-based Maritime Street, a specialist management consultancy company.
The past year has seen several large scale and serious breaches in the maritime, logistics and ports industries with China Cosco Los Angeles operation, the port of Barcelona and the port of San Diego among those attacked in 2018. In 2017, serious breaches occurred at the AP Moller-Maersk Group and Federal Express.
Despite the breaches, Ollivier fears that companies in the maritime and port sectors are somewhat complacent about cybercrime and called for them to take action and to also work closely with their governments, national and international organisations to improve the security of their IT systems.
“We cannot afford to have critical operators of trade to be compromised,” he said. “It cannot be business as usual for these companies. They need to collaborate with national cyber security agencies or seek help from government departments and secure their systems. The International Maritime Organisation must also be pressured to include a cyber agreement within the ISPS code.”