FWI: U.S. cargo thefts decline in value, rise in volume

California had the highest number of reported cargo thefts during the third quarter of 2016, accounting for 38 percent of reported incidents.    Reported cargo thefts in the United States during the third quarter of 2016 increased in volume but fell in value compared to a year prior, according to FreightWatch International Supply Chain Intelligence Center’s (FWI SCIC) U.S. Cargo Theft report for Q3-2016.
   “It is a continuing trend that thieves will avoid risk by targeting lower value shipments that have less security procedures in place, and thereby compensate for the decrease in value with an increase in theft volume,” FWI said. During the quarter, 193 reported cargo thefts occurred across the nation, a 7 percent increase from the third quarter of 2015. However, the average loss value per incident for the quarter declined 38 percent year-over-year to $120,536.
   FWI noted in the report that the third quarter of 2016 results are likely to rise above the current numbers due to delays in incident reporting.
   In terms of states, California had the highest number of reported cargo thefts during the quarter, accounting for 38 percent of reported incidents. On Sept. 19, FWI issued a notice of the rising threat of cargo theft in the Greater Los Angeles area, with theft rates of clothing and shoes, along with electronics, almost double the national average in the region. In addition, the occurrence of reported fictitious pickups was almost three times greater than the national average.
   Texas was the second most common state for reported cargo thefts, accounting for 16 percent of reported incidents during the quarter, followed by Florida at 8 percent, Illinois at 7 percent and Tennessee at 6 percent.
   During the quarter, home and garden, along with electronics, tied for being the most commonly reported stolen product type during the quarter, each accounting for 18 percent of reported incidents. Food and drinks followed closely behind, accounting for 17 percent of reported cargo thefts.