Western hemisphere cargo theft up in 2011, FreightWatch says

user-gravatar Headshot

Cargo theft continues to plague the global supply chain, resulting in billions of dollars in direct losses, downstream costs and derailed efficiencies, according to FreightWatch International, a global logistics security solutions provider, which announced publication of its Annual Global Threat Assessment.

The volume of cargo theft grew throughout the western hemisphere, with the United States, Mexico, Brazil and other South American countries reporting substantial increases in theft. Rates of theft in Europe were down for 2011 – although a lack of reporting continues to be a problem – while theft rates across Africa and Asia remained steady.

“As global supply chains adapt to a changing economy, so are cargo criminals,” says Barry Conlon, chief executive officer of FreightWatch. “Theft gangs are becoming increasingly active, stealing cargo in significant quantities and making huge profits on the black market. In order to develop a comprehensive security plan, industry professionals must first understand the complexities of the risks they face.”

Conlon says cargo theft trends vary widely from region to region, and it is imperative that supply chain professionals have a clear understanding of these nuances in order to secure their cargo and prevent large-scale thefts from occurring.

The Global Threat Assessment looks at each region of the world and the countries considered major players in the world’s supply chain, analyzing cargo theft rates, criminal tactics, targeted goods and government efforts to curtail the problem. For a copy of the report, contact Dan Burges at dan.burges@freightwatchintl.com.