Truck Cargo Thefts Drop, Value of Heists Jumps
June 09, 2014
In this rolling quarter FreightWatch recorded a total of 178 thefts in the United States, with 48 thefts in February, 80 in March and 50 in April. The average loss value per incident during the period was $245,101. Compared with the previous quarter, thefts decreased by 25%, while the average loss value increased by 98%. Graphic: FreightWatch
The number of truck cargo thefts in the U.S. decreased by 25% February through April, but the average loss value increased 98%, according to a new report from the logistics security services provider FreightWatch International.
It recorded a total of 178 thefts; with 48 thefts in February, 80 in March and 50 in April. The average loss value per incident during the period was $245,101.
Food/drinks, with 31 thefts, was the product type most often stolen in this rolling quarter. These thefts comprised 17% of all incidents. The electronics industry experienced 27 thefts, 15% of the total, mainly consisting of televisions, computers and computer accessories. There were 27 thefts, 15% of all incidents, in the home/garden product type, including appliances, home décor items and cleaning supplies.
Nine of the 13 FreightWatch product types experienced fewer thefts this quarter than during the previous three months.
Florida experienced the most thefts with 38 incidents, followed by California with 36 incidents. This represents a reduction in thefts for both states, as California recorded 77 incidents the previous rolling quarter, while Florida had 43. Florida claimed 24% of all U.S. incidents during February, March and April, an increase from 18% during the previous three months. Meanwhile, California saw a drop to 23% of incidents from 32% in the last rolling quarter. The 26 thefts in Texas, 16% of the total, and 21 in Georgia, 13% of the total, made them the second and third hardest hit states.
Of the incidents in which a location type was recorded, unsecured parking was the most common by far, with 119 thefts, 89% of the total.
While the average loss value across all product types was $245,101 for the rolling quarter, average losses for specific types varied widely. The pharmaceuticals sector had the highest average loss value this quarter at $5.6 million. Clothing/shoes, which experienced 14 thefts, averaged $859,499 in losses. Electronics followed with an average loss value of $420,585, resulting from two reported thefts with losses over $1 million.
The full report is available on the FreightWatch International website.