Posted: February 24th, 2023

In-transit threats and risk management in Maritime industry

In-transit threats and risk management in Maritime industry.
Maritime transportation is a vital component of global trade, with an estimated 80% of international trade by volume and 70% by value being transported by sea. However, this reliance on maritime transportation also brings a range of security challenges, including the potential for in-transit threats. These threats can come in many forms, including piracy, terrorism, and smuggling, and can have significant impacts on the maritime industry, including financial losses, disruptions to trade, and damage to reputation.
Effective risk management is essential for addressing these in-transit threats and minimizing their impacts on the maritime industry. One approach to risk management is the use of risk assessments, which involve identifying potential threats, assessing their likelihood and potential impact, and implementing measures to mitigate or manage those risks.
An illustration of risk assessment in the maritime sector is the implementation of Ship Security Alert Systems (SSAS). SSAS are devices installed on ships that can send a distress signal to a designated security company or the coast guard in the event of a security incident. The use of SSAS can help to deter potential attackers and enable a rapid response in the event of an incident.
An alternative method of addressing risk in the maritime industry is through the implementation of physical security measures, one of which being the employment of armed guards on vessels. The use of armed guards has been shown to be an effective deterrent against piracy, with ships with armed guards being less likely to be targeted than those without. However, the use of armed guards can also raise concerns about the use of force and the potential for escalation of violence.
In addition to these measures, there are also a range of international regulations and guidelines in place to address in-transit threats in the maritime industry. One key example is the International Maritime Organization’s (IMO) International Ship and Port Facility Security (ISPS) Code, which sets out a range of security measures for ships and port facilities. The ISPS Code is mandatory for all ships engaged in international trade and provides a framework for the assessment and management of security risks.
In-transit threats and risk management in the maritime industry are important issues that must be addressed to ensure the safe and efficient movement of goods by sea. Risk assessments, the use of technology and physical security measures, and compliance with international regulations and guidelines are all important elements of an effective risk management strategy. However, it is also important to consider the potential trade-offs between security and other concerns such as the use of force and the potential for escalation of violence.