Detect and address cyber risks in the maritime industry

The maritime sector is on the verge of a digital disruption. Although digital transformation of the maritime sector is still in its infancy, it is safe to assume that digitalization will have a major impact on operations and existing business models in the years to come. New and exciting opportunities arise – and cyber threats emerge. KPMG and KONGSBERG have partnered up to help you navigate through the digital threats and harness the tremendous business potential provided by digitalization.

The international shipping industry carries around 90 percent of world trade. At any given time, about 50 000 ships are at sea or in port. As new technologies push the industry forward at a rapid pace, new threats arise. Increasing interconnectivity is exposing the sector's infrastructure to more and more cyber vulnerabilities. The maritime industry is highly exposed to cyberattacks and threats that may have severe financial and reputational repercussions.

Regulatory requirements will soon come into play too. The International Maritime Organization (IMO) demands ship owners and managers to have incorporated cyber risk management into ship safety by 2021. Lack of compliance with these requirements may lead to increased insurance process, port access denial and even detention of ships, meaning huge financial losses for their owners.

Read more about KPMG and KONGSBERG's approach and solutions for maritime cyber risk management in our whitepaper Maritime license to operate at risk (PDF, 135 KB).

• Globally, almost 17 million cyberattacks occur every week.
• In 2018, cybercrime was estimated to cost around $600 billion globally.
• Among the greatest threats are malware like WannaCry and NotPetya, data breaches, phishing, social engineering and insider threats, hacking and hacktivism, weaponization of artificial intelligence and human error.

Today's cyber risk posture in the maritime sector demands an active approach, as does upcoming regulations. Players in the shipping industry need to identify the greatest cyber risks and address them in the most cost-effective way. This asks for scalable and data-driven solutions to automatically manage, detect and address risks in a consistent and transparent way.

By combining KONGSBERG’s expertise within marine technology and digital ecosystems with KPMG’s top-level knowledge of cybersecurity advisory and digital risk management, we help you navigate through the digital threats to harness the tremendous business potential provided by digitalization. We provide innovative, data-driven digital services that identify and address cyber risk to keep you ahead of the curve. Welcome on board!