Cyber Pirates Ahoy! An Analysis of Cybersecurity Challenges in the Shipping Industry

Maritime shipping has become a trillion-dollar industry that now impacts the economy of virtually every country around the world. It is therefore no surprise that countries and companies have spent billions of dollars to modernize shipping vessels and ports with various technologies. However, the implementation of these technologies has also caught the attention of cybercriminals. For example, a cyberattack on one shipping company resulted in nearly $300 million in financial losses. Hence, this paper describes cybersecurity vulnerabilities present in the international shipping business. The contribution of this paper is the identification and dissection of cyber vulnerabilities specific to the shipping industry, along with how and why these potential vulnerabilities exist.