By Judy Greenwald, Crain News Service
AUSTIN, Texas (March 11, 2015) — The average value of cargo stolen during 2014 increased by 36 percent, to $232,924, with cargo thieves becoming more professional, according to FreightWatch International (USA) Inc. in its 2014 report issued March 10.
“The threat of cargo theft continues to grow in the United States due to increased organization and innovation on the part of cargo thieves,” said the report by the Austin -based freight security firm.
“With the average stolen shipment valued at over $230,000, cargo crime represents a lucrative criminal enterprise compared with activities yielding similar returns (i.e. armed bank robbery) when adjusted for the realized cash values,” the report stated.
The report said 90 percent of all thefts in 2014 occurred when the truck was stationary and unattended. In a related finding, it also said that last year 87 percent of all thefts with a known location occurred within unsecured parking.
In terms of cargo stolen, the average value of electronics stolen increased by 43 percent over the 2013 average value — to $568,664. Food and drink was the most frequently stolen type of cargo, accounting for 19 percent of the total, followed by electronics at 16 percent, and home and garden products at 14 percent, according to the report.
This report appeared on the website of Crain's Business Insurance magazine, a Chicago-based sister publication of Tire Business.