Executive Briefings

Cargo Theft Continues to Rise in U.S., but Thieves Targeting Less Costly Items

FreightWatch International, a provider of logistics security services, has released its annual U.S. Cargo Theft Report, showing the year-over-year growth of this type of crime has hit another record high.

FreightWatch, which has been tracking cargo theft rates since 2006, recorded 974 cargo theft incidents for 2011, with an average value of $319,000 per theft incident.

Nevertheless, there is some good news. "While the rate of theft continues to rise, we are pleased to see the average value per incident begin to decline," said Barry Conlon, CEO of FreightWatch.  "This shows that shippers and the industry as a whole are beginning to secure their high-value cargo more effectively, forcing criminals to target less valuable loads."

The most commonly targeted product types in 2011 were food and beverage products, electronics and building materials. Specific items most targeted by criminals - largely due to their ease of movement on the black market - include televisions, canned food product, cell phones, energy drinks, and roofing materials.

For a copy of the report, contact Dan Burges, senior director of intelligence at dan.burges@freightwatchintl.com.

Source: FreightWatch International

 

FreightWatch International, a provider of logistics security services, has released its annual U.S. Cargo Theft Report, showing the year-over-year growth of this type of crime has hit another record high.

FreightWatch, which has been tracking cargo theft rates since 2006, recorded 974 cargo theft incidents for 2011, with an average value of $319,000 per theft incident.

Nevertheless, there is some good news. "While the rate of theft continues to rise, we are pleased to see the average value per incident begin to decline," said Barry Conlon, CEO of FreightWatch.  "This shows that shippers and the industry as a whole are beginning to secure their high-value cargo more effectively, forcing criminals to target less valuable loads."

The most commonly targeted product types in 2011 were food and beverage products, electronics and building materials. Specific items most targeted by criminals - largely due to their ease of movement on the black market - include televisions, canned food product, cell phones, energy drinks, and roofing materials.

For a copy of the report, contact Dan Burges, senior director of intelligence at dan.burges@freightwatchintl.com.

Source: FreightWatch International