Cargo theft increases 12% in 2009

| February 01, 2010
The average loss increased.
The average loss increased.

FreightWatch International announced in its 2009 Annual Cargo Theft Report that cargo theft industrywide rose by 12 percent in 2009 to an average of 72 cargo theft incidents per month, the most ever recorded.

Electronics, the industry most heavily hit by cargo theft, accounted for 23 percent of total theft activity, with an average loss value of $806,000 per incident, closely followed by pharmaceuticals.

“Over the last year, we have seen companies increase their proactive security measures,” said Barry Conlon, chief executive officer of FreightWatch. “This, combined with a decrease in total shipping during 2009, primarily due to decreased global demand resulting from the recession, has forced cargo theft gangs to become more aggressive and increase their active targeting of unprotected high-value loads.”

The research conducted by FreightWatch shows the average loss per incident for virtually every commodity group increased in 2009. Cargo theft in the United States is analyzed in the 2009 Annual Cargo Theft Report and includes theft rates per state, most common locations for thefts and areas with the highest risk. For a copy of the report, e-mail dan.burges@freightwatchusa.com.

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