Maritime Cyber Risk Management In Safety Management Systems

On 17 February 2020, the Shipping Deputy Ministry of Cyprus issued Circular 4/2020 in relation to cyber risk following IMO Resolution MSC.428(98) which recognizes the urgent need to raise awareness on cyber risk threats and vulnerabilities to support safe and secure shipping, which is operationally resilient to cyber risks.

In this respect, the Facilitation Committee of the IMO has approved guidelines on maritime cyber risk management (MSC-FAL.1/Circ.3).

As noted in Circular 4/2020, maritime cyber risk refers to a measure of the extent to which a technology asset could be threatened by a potential circumstance or event, which may result in shipping-related operational, safety or security failures as a consequence of information or systems being corrupted, lost or compromised. Cyber risk management means the process of identifying, analysing, assessing and communicating a cyber-related risk and accepting, avoiding, transferring or mitigating it to an acceptable