News Stay informed about the latest enterprise technology news and product updates.

NotPetya ransomware impact costs Maersk hundreds of millions

Danish shipping giant A.P. Moller-Maersk said the NotPetya ransomware attacks severely damaged business processes and the impact has been estimated at as much as $300 million in lost revenue.

The NotPetya ransomware is once again being blamed for a major financial cost due to disruptions to a global shipping...

business.

According to a financial report for A.P. Moller-Maersk, a shipping and logistics conglomerate based in Denmark, the impact from the NotPetya ransomware attacks in June adversely affected Maersk Line, the conglomerate's global container division and the largest operating unit.

Søren Skou, CEO of A.P. Moller-Maersk, said the NotPetya ransomware impact led to business volumes being "negatively affected for a couple of weeks in July and as a consequence, our Q3 results will be impacted."

The financial guidance for Moller-Maersk stated the majority of the NotPetya ransomware impact came in July and is estimated to cost the company between $200 and $300 million in revenue.

Growing NotPetya ransomware impact

Moller-Maersk is the latest company to admit to the extensive ransomware impact on business operations. Many companies around the globe were affected because the NotPetya ransomware acted more like a wiper, destroying data and locking systems so businesses could not recover normally.

FedEx said the sophisticated NotPetya ransomware disruption lasted weeks and forced its TNT division to rely on manual processes.

Merck did not specifically point to NotPetya -- instead blaming an undisclosed cyberattack occurring on the same day the NotPetya ransomware attacks began -- but said it was still "in the process of restoring its manufacturing operations" as of the end of July 2017, one month after the NotPetya attack.

Merck said it had to alter its financial outlook because of the ransomware costs, but did not know the full extent of the costs.

Next Steps

Learn tips on protecting against ransomware with comprehensive backup and recovery.

Find out why Health IT needs to remain vigilant after ransomware attacks.

Get answers to big ransomware questions.  

Dig Deeper on Data security breaches

PRO+

Content

Find more PRO+ content and other member only offers, here.

Join the conversation

1 comment

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

What is your company's policy to deal with the impact of ransomware?
Cancel

-ADS BY GOOGLE

SearchCloudSecurity

SearchNetworking

SearchCIO

SearchEnterpriseDesktop

SearchCloudComputing

ComputerWeekly

Close