Shipping companies investing in maritime port terminals may increase the risk of cyber-attacks. Such investments reduce costs associated with moving cargo, which can improve profitability. Two years of cheap credit and low fuel prices have propped up weaker carriers, lowered demand, and delayed mergers and alliances needed to resolve these concerns. An example: Hyundai Merchant bought a 20 % stake in Total Terminals International LLC from Mediterranean Shipping Co, who operates the Port of Long Beach. In addition to risks associated with integrating ship to shore cyber connections, adding another company (and its sub-contractors) to the corporate mix increases supply-chain risks.Wapack Labs has reported on maritime shipping in the past. An archive of related reporting can be found in the Red Sky Alliance Portal.
The following organizations were cited in this report: Hyundai Merchant, Port of Long Beach, Total Terminals International LLC
TLP: AMBER
ACTOR TYPE: (III)
SERIAL: TR-031-2017
COUNTRIES: US, KR, ES
INDUSTRIES: Maritime
REPORT DATE: 20170208
REPORT DATE: 20170208
