Global shipping company BW Group’s computer systems in Singapore were hacked recently, prompting the company to briefly go offline, company sources said this week.
The incident happened in July, at a time when the entire global shipping industry is feverishly working to enhance cyber security. In the multi-billion dollar shipping industry cyber-security to prevent hacking is crucial for a smooth movement of cargoes and passengers across the globe.
In a shipping company, the onshore office and offshore systems of various ships need to be in regular communication to ensure seamless continuity in management.
The hacking of BW Group’s computer systems came close on the heels of a major global ransomware attack — Petya — on many computer servers across assets including those of shipping major, A.P. Moller-Maersk in June. According to Maersk, the breakdown had affected all business units at the company, including container shipping, port and tug boat operations, oil and gas production, drilling services, and oil tankers. It hurt the company’s business volumes and resulted in millions of dollars in lost revenue.
A BW Group spokesperson said the cyber attack on the company’s computer systems was not ransomware.
“Regretfully, there was an unauthorized access [of BW’s computer systems] some months back [but] there was no ransomware,” the spokesperson said.
Ransomware is a malware that prevents or limits users from accessing their system, either by locking its screen or by locking the users’ files unless a ransom is paid. Some types of ransomware, collectively categorized as crypto-ransomware, encrypt certain file types on infected systems and forces users to pay a ransom through certain online payment methods to obtain a decrypt key.
The BW spokesperson did not divulge information on any financial or data loss due to the unauthorized external access to the company’s computers.
BW Group is one of the largest shipping companies in the world, controlling not only tankers and bulk carriers but also gas carriers and offshore floating. BW LPG and BW Offshore are listed on the Oslo Stock Exchange. Earlier this year, BW became the largest shareholder in the New York-listed DHT Holdings, when the two entered into a tankers-for-shares deal.
Another tanker company, New York-listed Frontline, tried to block the deal through a lawsuit but was unsuccessful.