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Cargo theft instances climb in third quarter, FreightWatch reports

fwi-3q-2016-2

FreightWatch International recorded a total of 193 cargo thefts in 2016’s third quarter, according to its quarterly theft report issued last week. The cargo theft monitoring firm pegged the average loss value of cargo theft instances in the quarter at $120,536 each in the third quarter of the year.

Compared to the 2016’s second quarter, theft occurrences rose 14 percent, but average loss value fell 26 percent. Compared to 2015’s third quarter, cargo theft incidents were up 7 percent, while values rose 38 percent.

fwi-3q-2016-1During the third quarter, FreightWatch recorded 77 cargo thefts in July, 66 in August and 50 in September.

Electronics and home and garden were the most-stolen items in the quarter, each accounting for 18 percent of cargo thefts during the period, according to FWI. Food and drinks accounted for 17 percent of stolen items. In electronics, televisions and displays accounted for 31 percent of the thefts. In home and garden loads, appliances were most stolen. Meats and produce each accounted for 18 percent on the food and drinks items stolen.

fwi-3q-2016Home and garden items saw the most dramatic increase in thefts when compared year-over-year with a 94 percent increase from 2015’s third quarter. Electronics thefts rose by 46 percent year-over-year.

California ranked as the top state in FWI’s numbers with 38 percent of total thefts in the quarter, followed by Texas with 16 percent of the total. Of the 193 thefts in the quarter, 75 percent of them occurred in unsecured parking locations, FreightWatch says. Secured parking locations accounted for 13 percent of thefts, and warehouse and distribution centers represented 11 percent of the thefts.

Additionally, FWI says theft of full truckload was most prevalent with 78 percent of third quarter thefts.

Preventing cargo, truck theft is a mutli-layered attack

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Matt Cole is an Associate Editor for CCJ and Overdrive. Reach him at mattcole@randallreilly.com.