FreightWatch: U.S. cargo theft, average losses continue to trend downward

By Land Line staff | 9/24/2014

The total number of reported cargo thefts in the United States from June to August fell by roughly 16 percent compared with the previous three months, according to FreightWatch.

In addition to the drop in the number of overall theft incidents, the average loss value during the period was $182,115, a decrease of 16 percent compared with the average loss reported in cargo thefts from March, April and May of this year.

FreightWatch, which specializes in tracking supply chain information and cargo thefts around the globe, publishes its quarterly reports on a rolling basis. The latest report covers cargo thefts reported from June to August 2014. The report is compiled from U.S. theft data derived from law enforcement and industry databases.

FreightWatch recorded a total of 182 thefts during the quarter, with 53 reported thefts in June, 69 in July, and 60 in August. The report anticipates the total number of incidents may rise above the totals from the previous quarter due to delays in incident reporting.

Food/Drinks were the most commonly hijacked cargo, with 34 reported incidents – roughly 19 percent of the total thefts for the quarter. Electronics accounted for 32 reported thefts (18 percent of the total) and Home/Garden accounted for 24 reported thefts (13 percent).

California re-emerged as the top hotspot for cargo thefts, with 36 reported incidents. Florida followed with 34 incidents, while Texas (27 thefts), Georgia (14 thefts) and Illinois (13 thefts) rounded out the Top 5.

Unsecured parking once again topped the list of locations where theft was most likely to occur, accounting for 108 reported incidents, primarily at truck stops, roughly 80 percent of the total. Thefts of trailers and containers accounted for 84 percent of all theft types, with 153 reported incidents.

Copyright © OOIDA