FWI: U.S. cargo thefts decline in volume, value in 2015

A total of 754 cargo thefts were reported in the United States during 2015, with an average loss value per incident of $184,101, year-over-year declines of 6 percent and 21 percent, respectively.    A total of 754 cargo thefts were reported in the United States throughout 2015, a 6 percent decline from 2014, according to the FreightWatch International Supply Chain Intelligence Center’s (FWI SCIC) U.S. Cargo Theft Report for 2015.
   FWI noted in the report that the 2015 result is likely to rise above the current numbers due to delays in incident reporting.
   The average loss value per incident in 2015 totaled $184,101, 21 percent less than in 2014.
   Overall, a total of 16 reported cargo theft incidents valued at or above $1 million occurred in 2015, down from 21 such incidents in 2014.
   During the year, food and drinks remained the most stolen product type, accounting for 24 percent of total reported cargo thefts in the U.S. Meats were the most commonly stolen product in this category, accounting for 18 percent of the category’s total.
   The electronics category came in second, accounting for 15 percent of the total. Electronics thefts largely consisted of televisions and displays, which made up 35 percent of the category’s total.
   The home and garden category came in third, making up 12 percent of the total; followed by the auto and parts category, which made up 9 percent of the total; and the building and industrial category, which made up 8 percent of the total.
   Broken down by state, in 2015, reported cargo theft incidents occurred in 38 states, compared to 34 states in 2014.
   The largest number of reported cargo thefts in 2015 occurred in California, which accounted for 19 percent of total reported incidents. Florida and Texas tied for second, with each accounting for a 15 percent share of overall reported cargo theft volume, followed by New Jersey (13 percent) and Georgia (12 percent).
   These top five states combined accounted for 74 percent of all reported cargo thefts.
   The top states are at risk due to the presence of large seaports; the confluence of major interstates; and the presence of large, well-organized cargo theft rings, such as those based in Southern Florida and California, FWI said.
   Overall, cargo theft most often occurs on weekends. In 2015, 86 percent of reported thefts with a known location took place within unsecured parking areas, mainly truck stops, followed by public parking and drop lots. In both 2014 and 2015, cargo theft was more prominent in January and March, was low in September and spiked back up in October, potentially from the early arrival of seasonal inventories at retail locations.