Cargo theft incidents, loss values climb for 3Q 2019
November 19, 2019
•Land Line Staff
The average loss-value and number of reported cargo thefts in the United States increased significantly from July to September, according to the latest industry reports.
A total of 165 cargo thefts were reported during the quarter, with an average loss value of $155,709, according to the latest quarterly report published by SensiGuard. Those figures represent a 13% increase in volume and a 31% increase in value compared to the previous quarter. The numbers also represent a 3% increase in volume but an 8% decrease in loss values compared to the same quarter last year.
The SensiGuard Supply Chain Intelligence Center has issued its report on cargo theft incidents in the U.S. for the third quarter of 2019. The company publishes quarterly reports in addition to an annual report on cargo theft. The report notes that delays in incident reporting typically cause measurable increases in theft volumes in the weeks following the quarterly reports, and totals from the most recent quarter are expected to rise.
The report notes that electronics loads were the most stolen product type, with 21% of the total thefts. Of those, 35% of the electronics thefts were identified as televisions and displays. The second most stolen product type was “home and garden,” with 19% of total thefts. Of those, one out of four stolen loads were reportedly appliances. While usually the most common reported theft, “food and drinks” accounted for 14% of reported thefts, making those loads the third most stolen product type, according to SensiGuard.
California reported the most cargo thefts during the quarter, accounting for 26% of all theft incidents. Texas, Georgia, Florida followed, with a three-way tie for fifth most incidents between the states of New Jersey, Illinois and Tennessee.
The report notes that 38% of all electronics thefts were reported in California during the quarter. SensiGuard attributes the increase in theft volumes in The Golden State to a glut of containerized freight in southern California as companies rush to get shipments in from China before more tariffs take effect.