• 2019 May 22 12:27

    New standard Cyber Security Clause agreed by BIMCO’s Documentary Committee

    BIMCO say its Documentary Committee has agreed a new standard Cyber Security Clause that requires the parties to implement cyber security procedures and systems, to help reduce the risk of an incident and mitigate the consequences should a security breach occur.

    In the wake of recent costly cyber security incidents involving large shipping companies, cyber security has become a major focus in the maritime industry.

    BIMCO has taken a lead position on cyber security issues through its active role at the International Maritime Organization and by co-authoring the “Industry Guidelines on cyber security onboard ships”. The development of the BIMCO Cyber Security Clause has been an important part of this initiative.

    The clause has been written by a small drafting team, led by Inga Frøysa of Klaveness, with representatives from shipowners, P&I clubs and a law firm, and will be published towards the end of May.

    “I am very pleased to see BIMCO as the first mover on this important topic. Recent years have shown that there is a clear need for a clause addressing the contractual issues that can arise from a cyber security incident,” says Inga Frøysa.

    The clause is drafted in broad and generic language which allows for it to be used in a wide range of contracts and in a string of contracts for easy back-to-back application. It is hoped that the clause will assist parties in obtaining affordable insurance for their cyber security exposure, as the clause introduces a cap on the liability for breaches.

    “It was very important to the subcommittee to impose an obligation on the parties to keep each other informed if a cyber security incident should occur, and to share any relevant information, which could assist the other party in mitigating and resolving an incident as quickly as possible,” Frøysa says.

    This is done through a two-fold notification process. Firstly, through an immediate notification from the party who becomes aware of an incident to the other party. Secondly, through a more detailed notification once the affected party has had the chance to investigate the incident.

    The clause also requires the parties to always share subsequent information, which could assist the other party in mitigating or preventing any effects from the incident.

    The level of required cyber security will depend on many elements such as the size of the company, its geographical location and nature of business.

    The clause takes this into account by stipulating that the parties must implement “appropriate” cyber security. The clause also requires each party to use reasonable endeavors to ensure that any third-party providing services on its behalf in connection with the contract, has appropriate cyber security.




2019 September 23

17:07 Scorpio Bulkers announces the sale of two Ultramax vessels for $37.9 mln
17:06 Lloyd’s Register signs up to Getting to Zero Coalition
16:43 Marseille, France to host EUROMARITIME on 4-6 February 2020
16:28 MAN Energy Solutions joins getting to zero coalition
15:24 Hapag-Lloyd increases rates from North Europe to Middle East and Indian Subcontinent
14:24 Ports of Los Angeles and Long Beach release report on the state of clean cargo-handling equipment technology
14:01 Severnaya Verf starts cutting metal for fourth processing trawler of Project 170701 ordered by NOREBO Group
13:39 ESPO Award jury puts ports of Dover, Dublin, Stockholm and UPF in final competition for Award 2019
13:15 Glander International Bunkering opens 8th office globally in Oslo
13:02 ECOSUBSEA achieves requirements to offer sustainable hull cleaning in the ports of Antwerp and Zeebrugge
12:53 Average wholesale prices for М-100 HFO up to RUB 14,725 in RF spot market
12:31 USPA Supervisory Board discussed corporatisation, integrated audit and dividend reduction
12:08 DNV GL’s Veracity strengthens maritime digitalization with new Asia-Pacific hub
11:50 Workshop in Kenya focused on reducing marine plastic from ships
11:36 Abu Dhabi Ports’ container volume up 82.4% in the first half of 2019
11:29 Regional workshop in Saudi Arabia focused on clean shipping in Red Sea, Gulf of Aden and Gulf
11:04 Vympel Shipyard launches fourth Grachonok-class special purpose boat for Federal National Guard Troops Service
10:26 Brent Crude futures price is up 1.1% to $64.99, Light Sweet Crude – up 1.1% to $58.73
10:08 CMA CGM announces FAK rates from Asia to Red Sea
09:47 Container throughput of port Hong Kong (China) down 7.4% to 12.18 million TEUs in Jan-Aug’2019
09:25 Baltic Dry Index is down to 2,131 points
09:08 DNV GL awards AIPs to DSME for ethylene carrier cargo tank designs
08:49 MABUX: Bunker Market this morning, Sep. 23
08:06 Damen completes maintenance work on Innovation at Damen Verolme Rotterdam

2019 September 22

17:03 Höegh increases its frequency to Australia
16:21 USCG Cutter Seneca offloads more than 12,000 pounds of cocaine in Miami
15:16 Algoma announces agreement to acquire Croatian-built dry-bulk carrier
13:03 Van Oord: Second Sand Motor successfully completed
12:47 Ørsted to pioneer deployment of GE’s next generation offshore wind turbine
11:39 ZPMC orders compressors to pipelay vessel

2019 September 21

16:17 USCG responds to breakaway barges striking I-10 San Jacinto River bridge
15:14 Eastern Shipbuilding launches the C.D WHITE for E.N. Bisso & Son
14:06 Boskalis associate Smit Lamnalco signs first 10-year terminal services contract in Mozambique
12:52 Kongsberg wins first full-scope expedition cruise vessel tender, with gensets and propulsion equipment
11:34 Rauma Shipyard bags Finnish Navy's four corvettes order

2019 September 20

18:41 Vostochny Port joins Coordinating Council on Trans-Siberian Transportation as its permanent member
18:22 IAA PortNews offers photo release from 'Development of Icebreaking and Support Fleet' conference held on NEVA 2019 zero-day
18:05 Global Ship Lease announces new five-year $268 mln credit facility for debt refinancing
17:24 Vostochny Port’s harbour services fleet presented at dedicated conference in Saint-Petersburg
17:05 F. A. Vinnen places entire fleet with Verifavia Shipping & Rina for IHM services
16:50 Helsinki Shipyard (Finland) to build two liners for polar cruises
16:35 COSCO SHIPPING Ports announces disposal of interest in various port assets and possible disposal of Taicang Terminal and Jiangsu Petrochemical Terminal
16:21 ABB presents electric power and propulsion solutions for icebreaking vessels at NEVA 2019
16:05 Port of Los Angeles protects overall clean air gains
15:19 Port of Riga rapidly increases volume of handled wood pellets
14:53 South Korean port to slash passenger vessel emissions with ABB shore power
14:15 Krasnoye Sormovo launches Pola Pelagia, dry cargo carrier of Project RSD59З, for Pola Rise
13:30 Damen Shipyards Group is ready to ensure construction of electric water buses for rivers and canals of Saint-Petersburg and Russia
13:12 MSC Cruises and Fincantieri unveil further details of MSC Seashore at coin ceremony
12:24 Victor Olersky sees promising future of electric river passenger ships in Saint-Petersburg and in Russia
12:09 Algoma Central Corporation announces agreement to acquire Croatian-built vessel
11:28 Specifications for 0.50% sulphur fuels and the PAS from ISO: IBIA explains
11:09 GTT obtains Approval in Principle from Bureau Veritas for the Mark III Flex technology on ice-breaking LNG carriers
10:52 IBIA and S&P Global Platts collaborate to help shipping industry comply with IMO 2020
10:31 Workshop for training on emergency response, preparation and planning held in Manila
10:09 Van Oord and Shell test the use of biofuel on trailing suction hopper dredger HAM 316
09:50 State Duma ratifies Convention on the Legal Status of the Caspian Sea
09:33 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.98% to $58.7
09:25 Lloyd’s Register, China Merchants, GTT, CNOOC, DSIC form jv to design LNG-fuelled VLCC
09:17 Baltic Dry Index is down to 2,192 points