Piracy threatening Australian trade

According to the fourth annual Allianz Global Corporate & Specialty (AGCS) Safety and Shipping Review 2016, piracy is still a major concern for Australian ship owners and operators.

Piracy attacks in South East Asia continue to rise

The International Maritime Organisation (IMO) reported that whilst on the decline elsewhere in the world, pirate attacks in South East Asia, through which most of Australia’s international trade is shipped, are on the increase. SE Asia now accounts for around 60% of all incidents (246 piracy attacks), with Vietnam the new hotspot. Almost 55% of the region’s 147 attacks were against moving vessels compared with 37% a year earlier. Most were aimed at low-level theft.

The report also notes that cyber risks in the maritime and shipping industry are evolving rapidly and require industry attention. Ron Johnson, regional marine manager at AGCS Pacific in Sydney, said: “The internet of things has opened up the shipping industry to the potential for hackers to access shipping company and port records, as well as on-board vessel identification and navigational systems. This leaves the entire shipping system exposed, enabling pirates and terrorists to identify target cargoes and obtain information about more vulnerable ships and locations”.

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Via: http://www.tandlnews.com.au