New Cyber Security Clause From BIMCO

BIMCO’s 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.