06DEC2018 - NEWS - BIMCO to finalise security clause for charter party agreements and other contracts

BIMCO which is the world’s largest shipping association, is finalising a cyber security clause for charter party agreements and other contracts. The move follows a spate of high-profile cyber attacks on Maersk, Cosco and shipbroker Clarksons. The BIMCO cyber security clause will require parties to the contract to have “plans and procedures in place to protect its computer systems and data, and to be able to respond quickly and efficiently to a cyber incident”. The association added that the cyber clause was designed for use in a broad range of contracts, which means it can also cover arrangements with service providers, such as brokers and agents.

Published by Editor - www.Livebunkers.com at 06-Dec-2018 06:17:40 [UTC] , contact editor at editor@livebunkers.com