The maritime industry remains an “easy target” for cybercriminals, and the cost of attacks […]
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HFW
Maritime Cyber Risk report: Shipping industry remains “easy target”, pays average US$3.2m in cyberattacks
New research has found that the maritime industry remains an “easy target” for cybercriminals and that the cost of attacks and demand for ransom payments across the sector have skyrocketed over the past 12 months.
The report, which was produced by global, sector-focused law firm HFW and maritime cyber security company CyberOwl, reveals that the average cyberattack in the maritime industry now ends up costing the target organisation US$550,000 – up from US$182,000 in 2022.
It also shows that...
Ship owners pay more than US$3 million on average to hackers
New research has found that where cyberattacks in the maritime industry lead to a ransom payment, ship owners pay more than US$3 million on average to the perpetrators.
The report, which was produced by maritime cyber security company CyberOwl and global law firm HFW, has also revealed significant gaps in cyber risk management that exist across shipping organisations and the wider supply chain, despite progress made by IMO 2021.
Tom Walters, Partner of HFW, said, “It is abundantly clear from our...
https://container-news.com/ship-owners-pay-more-than-us3-million-to-hackers-every-year/
HFW Helps BIMCO Draft “Game-Changing” Shipping Industry Carbon Emissions Clauses
HFW Helps BIMCO Draft “Game-Changing” Shipping Industry Carbon Emissions Clauses
Global, sector-focused law firm has helped shipping association BIMCO draft a series of clauses in response to strict new environmental legislation that will seek to reduce the industry’s carbon emissions and which will change the way ships are operated in the future.
From 1 January 2023, the International Maritime Organisation’s revised initial greenhouse gas rules will start to take effect, with the aim of reducing...
Don’t miss the ICS’s Shaping the Future of Shipping Conference on Sat 6 Nov – Register free for Live Stream
Don’t miss the ICS’s Shaping the Future of Shipping Conference on Sat 6 Nov – Register free for Live Stream
We are delighted to be attending and co-sponsoring the International Chamber of Shipping’s Shaping the Future of Shipping Conference during COP26 in Glasgow this Saturday 6th November 2021. We are pleased to be able to provide you with a free link to live stream the Shaping the Future of Shipping Conference Day.
The Conference is being run as a hybrid event, with the virtual Conference...
US$353 Million Jury Award in Texas
US$353 Million Jury Award in Texas
US$353 MILLION JURY AWARD IN TEXAS AND THE THIRD HIGH-PROFILE VERDICT IN 2021: WILL WE SEE MORE IN 2022?
BRIEFING
On 25 October 2021, a Texas jury awarded a $353 million verdict to a pedestrian – United Airlines wing walker Ulysses Cruz – who was struck by a van at Houston’s Bush Intercontinental Airport in September 2019.
Cruz was left paraplegic as a result of the accident. Cruz filed a lawsuit against Allied Aviation Fueling Co of Houston Inc (the owner of the...
https://allaboutshipping.co.uk/2021/11/01/us353-million-jury-award-in-texas/
HFW advising KiwiRail on shipping industry’s first climate bond initiative-certified finance
HFW advising KiwiRail on shipping industry’s first climate bond initiative-certified finance
HFW is advising KiwiRail on a secured NZ$350m pre- and post-delivery loan facility for its purchase of two newbuilding Interislander rail-enabled ferries to be constructed in Korea.
It is the world’s first shipping loan to be certified by the Climate Bond Initiative.
The facility is provided by Westpac NZ (Facility Agent), Société Générale (Green Loan Coordinator), Bank of America, and National Australia...
HFW Advises Shanghai Shipyard On US$170m UK Court Of Appeal Win
HFW Advises Shanghai Shipyard On US$170m UK Court Of Appeal Win
Global, sector-focused law firm HFW advised Chinese shipbuilder Shanghai Shipyard on a UK Court of Appeal win relating to a US$170 million payment under a shipbuilding contract.
The Court of Appeal overturned an April 2020 decision from the UK High Court that allowed the buyer of an offshore drillship – Reignwood International – to withhold a final payment instalment that was due on delivery...
COVID-19 Casino Dispute
COVID-19 Casino Dispute
With the Monte-Carlo Reinsurance Rendezvous again being cancelled due to Covid-19, a recent Court decision reminds us of casinos.
Caesar’s Entertainment, a U.S. casino and entertainments group, claimed an indemnity in respect of alleged property damage and business interruption (“BI”) losses arising out of COVID-19. Caesar’s sued Markel (along with other excess insurers) in the State District Court of Clark County, Nevada.
https://allaboutshipping.co.uk/2021/07/21/covid-19-casino-dispute/
In conversation with… Ruby Wax
In conversation with… Ruby Wax
On Wednesday 14 July at 7pm BST, Writer, Broadcaster and Mental Health Campaigner, Ruby Wax OBE will join HFW partner and mental health champion Paul Dean for the latest in our HFW Community event series.
Hosted by HFW’s Brian Perrott and Mark Parr, this webinar will offer an accessible, educational and honest look at how our society deals with mental health challenges.
Ruby first found fame as an actress and presenter, hosting several of her own primetime television...
https://allaboutshipping.co.uk/2021/07/03/in-conversation-with-ruby-wax/