Cyber risk in the shipping industry

Sharif Gardner, of AXIS, warns shipping industry practitioners need a mind shift as they embrace new technology

Shipping is one of the oldest industries, but it is rapidly joining the connected era. New software initiatives are introduced almost daily, as the world moves towards hyper-connected shipping. Vessels increasingly are digitally connected to port infrastructure. Through logistics networks their container terminals are linked to multiple trucking terminals and individual haulage units fitted with telematic devices. The industry is creating an enormous intercommunicating system within the internet of things, the universe of items which exchange information wirelessly through the ether.