The Singapore Shipping Association (SSA), a trade association representing ship owning, has announced the launch of the MaritimeSG Shipping CyberSafe Scorecard.
This initiative which received support from the Maritime and Port Authority of Singapore (MPA) and industry experts, reportedly allows ship owners, managers and operators to perform self-assessment via an online portal that measures the level of cybersecurity readiness of their fleet operations.
Cyber risks to vessel systems and operations are increasing. The industry specific scorecard helps shipping companies evaluate these risks, according to the SSA.
The scorecard provides insights into areas for improvement and enable timely mitigation. The scorecard aims to leverage on the established US National Institute of Standards and Technology (NIST) Cybersecurity Framework components of Identify, Protect, Detect, Respond, and Recover, providing a common language and a systematic approach for maritime companies of all sizes to better understand, manage, and reduce the cybersecurity risk of vessel operations.
Over 30 maritime companies, including industry leaders such as OSM Thome, Pacific International Lines, PCL, and BW Group, have completed their self-assessments in the pilot phase.
Over time, the SSA will use anonymised data to gain insights into industrywide trends. It provides a basis for onboarded companies to benchmark themselves with other peers. Future plans for the initiative include introduction of an automated cybersecurity insurance request process, allowing for cybersecurity coverage options.
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T S Teo, Chair of the SSA Digitalization Committee, who oversaw the development of this initiative said: “For Singapore to remain a hub for reliable and resilient maritime operations, it is imperative that the industry fortifies its cybersecurity posture.
“There is currently nothing on the market that allow companies to perform such an evaluation. The scorecard is the foundation for any company to plan and undertake long term measures to improve their level of cybersecurity preparedness.
“The launch of the MaritimeSG Shipping CyberSafe Scorecard, hence, marks a pivotal moment in our industry’s journey towards cyber resilience.
“By providing a comprehensive evaluation framework, we are not only raising awareness but also empowering companies to proactively safeguard their digital assets, fostering a culture of cybersecurity readiness that is crucial for the sustainable growth of maritime trade.”
Earlier this year, the Singapore Registry of Ships (SRS) reached the 100 million gross tonnage (GT) mark with the registration of AET’s Very Large Crude Carrier (VLCC), Eagle Veracruz.
