What's Happening?
A recent assessment by Achilles Network has revealed that over 25% of maritime parts and service suppliers exhibit high or very-high cyber vulnerabilities. This finding comes as shipowners enhance their
due diligence requirements to mitigate risks. The integration of Achilles' verified ESG and cyber indicators into Procureship's platform allows shipping companies to access critical supplier credentials during procurement. The review process, which evaluated over 1,000 global suppliers, identified significant gaps in cybersecurity, anti-bribery systems, and environmental management. Despite these challenges, some suppliers are adopting certified environmental management systems and decarbonization plans.
Why It's Important?
The identification of cybersecurity vulnerabilities among maritime suppliers is a significant concern for the shipping industry, which relies heavily on secure and resilient supply chains. As shipowners increase due diligence, suppliers must address these vulnerabilities to maintain business relationships and comply with industry standards. The integration of ESG and cyber indicators into procurement processes enhances transparency and accountability, supporting more informed decision-making. This development underscores the growing importance of cybersecurity and sustainability in the maritime sector, with potential implications for regulatory compliance and competitive advantage.
What's Next?
As the maritime industry continues to prioritize cybersecurity and sustainability, suppliers will need to address identified vulnerabilities and improve compliance with industry standards. Shipowners are likely to maintain or increase their due diligence efforts, potentially leading to stricter procurement criteria. Suppliers that fail to meet these standards may face challenges in securing contracts. The industry may also see increased collaboration between stakeholders to develop best practices and enhance supply chain resilience. Ongoing monitoring and assessment of supplier credentials will be crucial for maintaining security and sustainability in the maritime sector.
