Cargo Thefts Fall by 25 Percent. Average Value of Stolen Loads Almost Doubles.

Published: Jun 5, 2014

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According to a report by FreightWatch International, in the time frame between February and April, there were 178 cases of cargo theft reported. This marks a decrease in theft occurrences by 25 percent compared to the previous three months (November through January).

At the same time, the report shows that the average value of stolen loads almost doubled and is currently at $245,101.

As usual, foods and drinks were the most frequently stolen cargo category. They comprise 17 percent of all thefts in that period. The most target products “included meats, snack foods, carbonated drinks and prepared foods.”

Second place goes to electronics, which make up 15 percent of all thefts. In this category it was TVs, computers and computer accessories that were mostly targeted by thieves.

Home and garden products suffered the same percentage of thefts, followed by metal (11 percent), “building/industrial 10 percent, clothing/shoes 8 percent, auto/parts 6 percent and alcohol/tobacco 6 percent.”

Another interesting finding of the report is that 5 states “accounted for more than 75 percent of all cargo thefts in the U.S.”

Read the full article in the Commercial 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.