FreightWatch Releases New Cargo Theft Numbers

In its newest quarterly report, FreightWatch International shows a slight increase in cargo theft compared to the previous quarters. Overall, 182 cargo thefts were recorded between June and August 2014. That is a slight increase over the 2nd quarter total of 179. The average loss value per load also slightly increased, from $174,415 in the previous quarter to $182,115. Both the overall cargo theft number and the loss value per load are lower than in the comparable quarter last year.

Theft of a trailer or container again accounted for the large majority of thefts, with 153 (84%) of all cargo thefts falling in that category. The remainder of thefts were facility burglaries (6%), theft from trailer/container or driver theft (5%), and deceptive pickups (4%). In terms of load types and value, stolen loads of pharmaceuticals averaged $2 million, stolen loads of pharmaceutical supplies averaged $453,625, loads of alcohol or tobacco averaged $401,759, loads of personal care products averaged $339,549, and loads of electronics averaged $310,262.

Moving forward, FreightWatch International continues to classify the risk for cargo theft in the U.S. as “high,” their second highest rating. TIA’s Fraud Task Force is dedicated to sharing best practices to reduce the risks of cargo theft to industry. For additional information, contact Will Sehestedt at, 703-399-5700.