Cyberattack Costs One Company $200 Million

Maersk, the largest container ship and supply vessel operator in the world, expects to lose between $200 and $300 million as a result of a ransomware attack in June. The company announced the loss as part of its quarterly earnings report.

Maersk expected a $507 million net profit in the quarter and suffered a $264 million loss. A bigger hit to the bottom line was $700 million in impairment charges in the terminal and tanker business.

The cyberattack—a ransomware named NotPetya—hit June 27.

Maersk’s Loading volumes declined in the wake of the attack. The CEO acknowledged that the company was not able to recover quickly enough from the attack and is implementing a backup plan to avoid such trouble in the event of another attack.

Source: Reuters, Bloomberg