The incidence of cargo theft in the U.S. reached a record high last year but the value of the cargo stolen in each incident dropped, according to FreightWatch International, a logistics security services provider.
FreightWatch recorded 974 cargo theft incidents in 2011, with an average value of $319,000 per theft incident, according to the company’s annual U.S. report. The number of incidents fell 8.3 percent and the averge value of stolen goods decreased 31 percent.
“This shows that shippers and the industry as a whole is beginning to secure their high value cargo more effectively, forcing criminals to target less valuable loads,” said FreightWatch CEO Barry Conlon.
In North America, the highest theft risks are around Miami, Los Angeles, Atlanta, the New York metropolitan area, Toronto and anywhere along the Mexican border, according to cargo insurance specialists at Allianz Global Corporate & Specialty.