On Tuesday, July 24, 2018, Cosco Shipping’s US operations suffered a cyber attack, impacting its internet connection and compromising the carrier’s ability to communicate with its vessels, customers, vendors, and marine terminals. It’s unknown how long it will take to restore full operations.
Cosco’s overseas operations were not affected and are still fully operational at this time. “Communication with US offices is able to take place, although at a slower pace,” according to Cosco Senior Vice President Howard Finkel.
Instead of transmitting documentation electronically, the process is being done with emails, which takes much longer. Despite the slow processing of documentation and delivery orders, vessels were not impacted and are operating on schedule. Cosco’s main business operations systems also remain stable, and terminals are working to protect themselves against any malware associated with the attack.
This is the second attack on a large global shipping line in the past year. Maersk Group experienced a severe cyber attack in June 2017, costing the company $250 million to $350 million and preventing the container line from reaching its 2017 financial goal.
Deringer will continue to monitor the situation. If you have any questions or concerns about a particular shipment, please contact a Deringer service center.