Cyber-attacks and their impacts on the shipping industry. Identify the risks and suggest ways to mitigate.

• Main Author: Tan, Xin Hui
• Other Authors: -
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2021
• Subjects: Engineering::Maritime studies
• Online Access: https://hdl.handle.net/10356/149884
• Institution: Nanyang Technological University

Today, the shipping industry faces an increasing challenge for international trade that requires the industry to adopt various technological methods to cater to the demand. This puts the industry in a position that faces more cyber threats. Fundamentally, the questions lie in how cybercriminals can succeed in their cyber-attacks and what are the possible impacts to this cyber-attack. Thus, this paper will look at the operational sectors addressing the awareness issues that open the doors to cybercriminals. Despite knowing the importance of securing the network and systems, most studies had shown the lack of awareness and resources in creating a “Zero trust” environment. Although it might be costly to implement and protect against cyber threats, it is an exigency to ensure a smooth shipping operation through various means. Various studies conducted through primary and secondary sources had suggested the lack of budgeting towards cyber security. Whilst the weakest link is identified, more strategies and resources should be implemented. Ultimately, this paper aims to increase the awareness of various stakeholders in shipping operations. The Delphi Technique is used to collect data from surveys and interviews to support the various risk assessments which are in high, medium, and low level of risk. Each risk will be identified and supported with the views of various stakeholders. The findings raised the level of risk for each sector regardless of tangible or intangible assets. While various technologies such as artificial intelligence (A.I) are implemented for better efficiency, the impact and consequences discussed might contradict with some assumptions. Therefore, it is debatable, and more studies should be conducted for this issue. Furthermore, apart from existing technologies, this paper explores the possible advancement of current technology such as A.I and 4D printers and how it would possibly bring about greater benefit and/ or impact. Lastly, Business Continuity Plan will be implemented at three levels- Company, employee, and industry wide level. The focus will be on the industry level where mitigation strategies implemented for each sector will be integrated into one platform. After the various strategies, a risk assessment will show the lowered risk level as opposed to the beginning.