U.S. cargo theft hit record high in 2011

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FreightWatch International, a global logistics security services provider, on Thursday, Jan. 19, announced that U.S. cargo theft hit another record high in 2011. FreightWatch says its annual U.S. Cargo Theft Report shows the year-over-year growth of this crime; 974 cargo theft incidents were recorded last year ,with an average value of $319,000 per theft incident.

“While the rate of theft continues to rise, we are pleased to see the average value per incident begin to decline,” says Barry Conlon, chief executive officer of FreightWatch. “This shows that shippers and the industry as a whole is beginning to secure their high-value cargo more effectively, forcing criminals to target less valuable loads.”

According to FreightWatch, 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 phone, energy drinks and roofing materials.