Safety & Compliance

Cargo Thefts Decline, Value of Each Skyrockets

December 23, 2013

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A total of 222 cargo thefts were recorded in the United States from September through November, according to the logistics security services security provider FreightWatch International, a slight drop from the previous June through August period.

The average loss value per incident during the period was $244,604. Compared with the previous quarter, thefts decreased by 8%, while the average loss value increased by 47%.

Food/drinks, with 55 thefts, was the product type most often stolen in this time. These thefts comprised 25% of all incidents during the period.

While the average loss value across all product types was $244,603 for the rolling quarter, the electronics sector had the highest average loss value at $958,551, a 332% increase over the last rolling quarter’s average, largely due to a trio of very high-value incidents. Electronics was also the second most stolen product type.

California extended its lead as the state with the most thefts, jumping from 68 to 81 reported incidents, claiming 36% of all the incidents across the U.S., a significant increase from the previous three-month period of 28%.

Of the incidents in which a location type was recorded, unsecured parking was the most common, with 110 thefts or 79% of total thefts.

Following the usual trend, incidents involving theft of trailer/container, 170 in all, were most common during the rolling quarter, accounting for 77% of all thefts.

The full report is available from the FreightWatch International website.

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