SSA Unveils Cyber Risk Management Tool For The Maritime Industry

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  • Singapore Shipping Association (SSA) has introduced the MaritimeSG Shipping CyberSafe Scorecard to enhance cyber risk management within the maritime industry.
  • This new tool was developed in partnership with the Maritime and Port Authority of Singapore (MPA) and industry experts.
  • This enables vessel owners, managers, and operators to conduct self-assessments through an online portal gauging the cybersecurity preparedness of their fleet operations.

With cyber risks to vessel systems and operations on the rise, the industry-tailored scorecard helps shipping firms assess these risks and identify areas requiring improvement. The scorecard leverages the components of the US National Institute of Standards and Technology (NIST) Cybersecurity Framework—Identify, Protect, Detect, Respond, and Recover—providing a standardized approach and systematic methodology to help maritime companies understand, manage, and mitigate cybersecurity risks.

Pilot Phase and Industry Adoption

During its pilot phase, more than 30 maritime companies, including major players such as OSM Thome, Pacific International Lines, PCL, and BW Group, conducted self-assessments using the scorecard. The SSA will analyze anonymized data over time to identify industry-wide patterns and offer participating companies a benchmarking tool to compare their performance with peers. Future plans for the program include an automated cybersecurity insurance request process, easing access to various cybersecurity coverage options.

Significance for the Industry

T S Teo, Chair of the SSA Digitalization Committee, emphasized the importance of strengthening the industry’s cybersecurity posture for Singapore to remain a hub for reliable and resilient maritime operations. The scorecard provides a foundation for companies to plan and undertake long-term measures to improve their cybersecurity preparedness. Teo noted that the launch of the MaritimeSG Shipping CyberSafe Scorecard marks a pivotal moment in the industry’s journey toward cyber resilience.

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Source: Container News