The Average Value of Stolen Loads Jumps by 40 Percent in Q1

Published: May 8, 2014
MATEUS_27:24&25 / Foter / Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic (CC BY-NC-SA 2.0)

According to a report by FreightWatch International, the first quarter of 2014 saw 206 reported cargo thefts. The average per-load value was $207,982.

Currently, this number comprises a 4.9 percent decline in thefts compared to Q1 of 2013, but FreightWatch thinks the difference will turn out to be smaller, because not all of the thefts have been reported yet.

It’s important to note that even though the actual number of thefts has gone down, the per-stolen-load value has jumped by almost 40 percent. To FreightWatch this means one thing: cargo thieves are becoming increasingly sophisticated in their methods.

Food and drinks were the most frequently stolen category, comprising 21 percent of all thefts. Thefts of home and garden loads come second, accounting for 15 percent of all thefts. Third place goes to electronics as they make 13 percent of all cargo thefts.

Read the full article in the Construction Carrier Journal.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.