Cyber Risks and Cyber Security (No.2) 20 February 2018 No.944 Download PDF (181KB) This is the second of three Club circulars issued to inform and update members on cyber risks and cyber security issues.  The first circular was published on 10 November, 2017 and provided a general introduction to cyber risks.  This circular will address the international regulations and guidance on cyber security.  In the third circular, we will consider some case study scenario of a cyber incident.   CYBER RISKS – REGULATIONS AND GUIDANCE The maritime industry recognises that measures taken in relation to cyber security should be company and ship specific.  For example, ships with limited electronic systems would not need to undertake the same level of risk analysis as a ship with complex inter-connected electronic systems onboard.   Currently, there is little by way of national or international cyber security legislation, although both the EU and US are developing legislation in this area.  Pending such legislation and regulation, maritime organisations such as BIMCO have prepared cyber security guidance notes and recommendations to help guide members in this complex new area. BIMCO GUIDELINES Over the last few years BIMCO has led the discussions on the risks posed by the increasing technology onboard ships.  In 2017 BIMCO published an updated version of their 2016 Guidelines on Cyber Security Onboard Ships (the "Guidelines"). These Guidelines are supported by the International Chamber of Shipping, Intertanko, Intercargo and the Cruise Lines International Association.   The updated Guidelines can now be considered the most comprehensive guidance for the shipping industry, which builds on the knowledge and experience developed by BIMCO over recent years. BIMCO represents 60% of the world's merchant fleet.  In order to develop the Guidelines, they worked with the US Coast Guard and the Liberian flag registry including