Cargo Theft Sees Small Decline but Remains High Compared to Last Year

 

New data from CargoNet's 2024 Second Quarter Supply Chain Risk Trends Analysis shows a slight decline in cargo theft, with 771 thefts reported, a 10% decrease from the first quarter.  Despite this, thefts are still 33% higher than the same period last year, with losses estimated at $68.5 million.  Notably, thefts of vitamins, supplements, alcoholic beverages, and skincare products increased.

Cargo theft remains concentrated in California, Illinois, and Texas, which accounted for 57% of incidents.  Legislative efforts are underway to address this, including the introduction of the Safeguarding our Supply Chains Act by California Rep. David G. Valadao.  The bill aims to establish a Supply Chain Crime Coordination Center within the Department of Homeland Security, focusing on supply chain fraud and theft.

Organized cargo theft rings in Southern California are a significant threat, and theft by deception schemes are on the rise across the U.S. CargoNet predicts these methods will continue to gain popularity, keeping theft activity elevated in the third quarter of 2024.

Key Takeaways:

  1. Current Trends: While cargo thefts saw a small decline, they remain significantly higher than the previous year.
  2. Financial Impact: Estimated losses reached $68.5 million, with an average of $150,711 per theft.
  3. Legislative Efforts: New bills aim to strengthen supply chain security and reduce cargo theft.
  4. Future Predictions: Organized theft rings and deceptive theft schemes are expected to grow, keeping theft rates high.

Recent Incident: Beef Heist in Philadelphia

In a recent incident highlighting ongoing cargo theft issues, police in Southwest Philadelphia are investigating the theft of 400 cases of beef from a refrigerated tractor-trailer.  The heist, which occurred around 4:50 a.m. on Tuesday, resulted in the theft of 12 pallets of meat.  The truck was parked on 63rd Street near Eastwick Avenue when the driver discovered the theft.  These types of heists have been more frequent in Northeast Philadelphia, though connections between incidents remain unclear.

High Security Shipping with Road Scholar Transport

Given the rising threats, ensuring the safety and integrity of high-value cargo is crucial.  Road Scholar Transport offers a robust security infrastructure to protect your shipments.  Our advanced security features include:

  • Asset-based carrier with a .0001% claim record and zero full cargo losses.
  • Expedited services and real-time telematics for monitoring shipment locations and temperatures.
  • 24/7 dispatch and oversight with qualified, background-checked drivers trained in the latest cargo theft threats.
  • Geofencing capabilities and electronic door monitoring with email alerts and on-demand GPS locations.
  • High-security locks such as Navalock trailer locks and Babaco truck locks that are resistant to cutting, breaking, or shimming.
  • Awareness trucks that are brightly colored and easily distinguishable.
  • Strategically placed terminal network, allowing quick access to major northeast distribution hubs.

These security measures are critical for safeguarding your high-value cargo throughout the transport process, ensuring it reaches its destination safely and intact.

Visit our high security shipping page to learn more.

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