Navigating cybersecurity risks across designing, constructing and operating a vessel
The Lifecycle Dilemma: Navigating cybersecurity risks across designing, constructing and operating a vessel
The Lifecycle Dilemma: Navigating Cybersecurity Risks Across Designing, Constructing and Operating a Vessel delves into the shifting risks and disconnected approaches in cybersecurity across each stage from initial design through to its operation and maintenance. It outlines the roles, responsibilities, challenges and misconceptions of various stakeholders at each stage of the vessel lifecycle.
Our latest report consolidates the opinions of more than 150 stakeholders, including shipowners, charterers, OEMs, seafarers, insurers, shipyards, and other cybersecurity experts. It provides a detailed assessment of the current and anticipated cybersecurity challenges. It evaluates the industry’s responsiveness to evolving regulatory demands and technological progress, emphasising the critical need for integrated cybersecurity practices throughout the vessel lifecycle, from initial design to ongoing maintenance.
In light of the growing cyber threats facing the maritime industry, The Lifecycle Dilemma is an indispensable resource in navigating these challenges, driving critical discussions and actions needed to enhance cybersecurity protocols and protect global maritime operations.
Download the report to gain critical insights into effectively navigating cybersecurity in the maritime sector.
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Key findings
- Only 1 in 6 shipowners fully understand what a cyber-secure vessel should look like upon delivery.
- 7% of stakeholders paid a ransom within the last 12 months. In 2023, nearly 14% admitted to paying a ransom.
- The cost of ransom payouts is also on the decline. The average price paid is now less than $100K, whereas in 2023 it was $3.2m.
- 17% of shipyards feel they have adequate in-house cybersecurity expertise to design and construct a cyber-secure vessel.
- 10% of OEMs incorporate security-by-design in new systems. This leaves owners unaware and vulnerable to potential risks in critical systems.
- 32% of shipowners include cybersecurity in their newbuild teams. Many smaller companies assign cyber responsibilities to personnel that may lack cybersecurity knowledge.
Summary of key findings
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The Lifecycle Dilemma: Navigating Cybersecurity Risks Across Designing, Constructing and Operating a Vessel
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