In this episode, we check in with AcrisureRe's Cyber Practice Leader Tom Quy. Tom provides a thorough explanation of the current cyber insurance market dynamics, how the cyber threat is evolving and what his means for buyers of maritime cyber insurance.
Host: Captain Thomas Brown CEO Shoreline Guest: Anthony Hess CEO Asceris Intel’s legendary co-founder and former CEO Andy Grove put it best when he said, “Success breeds complacency. Complacency breeds failure. Only the paranoid will survive.” When a shipping company measures success by its historical ability to avoid a cyber-attack, it becomes complacent and ever more prone to attack. Only by being paranoid and meticulous in its continual cyber risk assessment, from which flows the implementati...
Shoreline’s Cyber consultant Nick Taylor we will be speaking to Julian Clark. Julian is the Global Senior Partner at Ince and Co. and also heads up Ince Maritime’s new cyber initiative. The time to speak about the legal and insurance issues as they relate to maritime cyber risk has never felt more prescient than it does today. With the exclusion of silent cyber risk from property and liability policies of insurance, ship owners are forced to look for ways in which they can plug gaps in cover, an...
The shipping and commodities industries have found themselves at the forefront of sanctions developments in recent months. As the United States continues its campaign of sanctions against Iran, North Korea, Syria and Venezuela, the Office of Foreign Assets Control or ‘OFAC’, is increasing the pressure on the maritime and commodities industries to require sanctions compliance. My name is Nick Maddalena, a consultant for Shoreline , the specialist insurer that provides pioneering maritime insuranc...
Facilitation payments have long been the scourge of the port visit for the deep-sea master. The outstretched hand, the muffled request; that sinking feeling in the pit of your stomach when you realise you have no option but to facilitate the permission needed for ship operations to progress smoothly and unencumbered. It's the asymmetry of the risk versus remedy equation that has taxed the conscience of many a ship's master, with the risk being, delay to the vessel's operating schedule and the re...
Just before midnight on October 3rd 2020, the ten year old, Maltese flagged, Greek owned, Aframax tanker - MV Syra suffered an explosion and damage to her forward section, whilst taking on crude at the Bir Ali crude single buoy mooring system, located in central Yemeni waters. The explosion was thought to have been caused by a sea mine or floating improvised explosive device. Today Shoreline’s Captain Thomas Brown was joined by Cormac McGarry and Ashley Halabi of Control Risks to analyze the new...
According to the UN Refugee Agency, some 40,000 people have attempted to cross from North Africa to Europe in 2020 alone, the size of this humanitarian crisis is further compounded when we learn that 400 of these migrants are reported to have lost their lives when making this dangerous journey. The legal complexities of migrant rescue involves the application of international conventions and multi-jurisdictional and agency issues, all of which does nothing to alleviate the ship master’s moral an...
The volume of data available in the world is growing exponentially; according to recent predictions by International Data Corporation, the amount of data created worldwide in 2025 will be ten times what it was in 2017. Increased digitalisation of the shipping industry is an inevitability. The consumption of data analytics to gain deeper maritime domain awareness is on the increase. Indeed Shoreline is a consumer of data analytics derived from AIS positional data. They work with leading data anal...
On the 4th of July, 2019, the Iranian tanker Grace One was detained by UK forces in Gibraltar on suspicion of EU sanction violations and on the 19th of July a British flag tanker, the Stena Impero was detained by Iran's Islamic revolutionary guard Corps. Track forward to August 2020, and we find Iranian forces once again, boarding another vessel this time a Liberian flag tanker, the MV Wila. Are these events connected and should shipowners be concerned with the apparent escalation of hostilities...
