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BIMCO is developing a clause dealing with cyber security risks and incidents that might affect the ability of one of the parties to perform their contractual obligations.
The effects of rising barriers to trade, capital flowing out of emerging market economies, and the elevated geopolitical risk are now clear to everyone.
The fourth edition of the industry cyber risk management guidelines, Guidelines on Cyber Security Onboard Ships is now available and lays the foundation for further improvements and refinement of companies’ cyber security risk assessments.
Free trade provides prosperity and peace. It’s a fundamental principle to cherish and safeguard. All trade-restrictive measures are in principle bad for shipping. Right now, the international atmosphere is full of threats of retaliation and it appears likely that major trading partners with the US like the EU and China will hit back to draw a line in the sand for the US Administration and President Trump.
US seaborne exports to China of the goods which China has imposed tariffs on since the start of the trade war fell by 37.6% in the first 11 months of 2019 (11M 2019) compared to the same period of 2017, the last full year unaffected by the trade war.
Preventing pest container contamination was one of the many items discussed at IMO’s Maritime Safety Committee (MSC 98). Cyber risk management, autonomous ships, security and adoption of amendments to mandatory instruments were also on the agenda.
