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Cargo Thefts, Average Value Decline in Latest Three-Month Period

September 25, 2014

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The darkest areas on this map show where cargo thefts happened the most often in June through August. Graphic: FreightWatch International
The darkest areas on this map show where cargo thefts happened the most often in June through August. Graphic: FreightWatch International

The number of cargo thefts and the average value both fell in the most recent three-month period, according to a new report from FreightWatch International.

The logistics security services provider says it recorded a total of 182 thefts in the U.S. during June through August, with 53 thefts in June, 69 in July, and 60 in August.

The average loss value per incident during the period was $182,115. Compared with the previous quarter, thefts and the average loss value both decreased by 16%.

Food and drinks, with 34 thefts, was the product type most often stolen, representing 19% of all incidents. The electronics industry experienced 32 thefts, 18% of the total, coming in second.

The average loss value for specific types varied widely with the pharmaceuticals/medications sector having the highest this quarter at $2 million. Pharmaceuticals/supplies averaged $453,625 in losses, while alcohol/tobacco followed with an average loss value of $410,759. At the other end of the spectrum for loss value is auto/parts category at $87,045, followed by metals at $79,908 and home/garden product types at $75,079.

California experienced the most thefts with 36 incidents, a slight decrease from the 44 thefts for the previous rolling quarter. Florida followed with 34 incidents, a decrease from 48 incidents. California claimed 20% of all U.S. cargo thefts, a drop from 22%, while Florida’s share totaled 19% of all incidents, a drop from its 20% share the last quarter. Texas was third with 15% of the total, followed by Georgia with 8% and Illinois with 7%.

Of the incidents in which a location type was recorded, unsecured parking was the most common, with 80% of the total. Warehouse/distribution center thefts rose slightly from 10% in the last quarter to 13% this period.

Following the normal trend, thefts of trailers/containers, 153 in all, were most common, representing 84% of all thefts. Facility burglaries increased from nine incidents the previous three months to 10, while deceptive pickups decreased, from 15 incidents to eight.

The complete report is available on the FreightWatch International website.

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