The Black Sea region has undergone considerable changes over the last decade. Concisely, a dynamic maritime security environment has emerged. A process of transformation has commenced in order to adapt the Maritime Security System (MSS) to the widening definition of the term “security”. As a result, the centralised Bulgarian MSS, which was dominated by the Navy, has been replaced by a multi-component model in order to achieve a synergy effect through the MSS components' shared efforts. As a result, a capability gap has arisen in the network-organised MSS, especially regarding countering maritime terrorism. This paper proposes an approach for terrorist organisation analysis based on the understanding that any element threatening maritime security evolves following the logical sequence from a challenge, a risk, to a threat.