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Third Quarter 2018 Cargo Theft Trends Analysis

2018 Q3 Cargo Theft Heat Map.jpg

JERSEY CITY, N.J. — The CargoNet® Command Center recorded 328 supply chain risk intelligence events in the United States and Canada during third-quarter 2018. Sixty-nine percent of incidents involved a stolen vehicle; and 62 percent involved stolen cargo among several other kinds of events, such as identity theft, missing drivers, and police intelligence. In total, CargoNet recorded 188 cargo thefts across the United States and Canada in third-quarter 2018, a 13 percent decrease from third-quarter 2017. The average cargo value per theft event was $143,949, for a total estimated loss of $13.9 million across the United States and Canada in this analysis period. CargoNet is a Verisk (Nasdaq:VRSK) business.

California reported 35 cargo thefts in third-quarter 2018; thefts in the state were down 13 percent from third-quarter 2017. Texas ranked second, with 28 reported cargo thefts. Florida dropped from the second-highest state for cargo thefts to the sixth-highest state, at 14 reported cargo thefts. CargoNet also recorded an increase in cargo theft in the province of Ontario and the states of Illinois and Georgia. We note that one of the top states for cargo theft, New Jersey, saw a 73 percent drop in cargo theft.

Food and beverage cargo thefts showed a minor decrease. CargoNet recorded 45 thefts of food and beverage freight, down from 47 in third-quarter 2017. Household products were the second most stolen commodity; and within this category, cargo thieves targeted major appliances, mixed household goods, and tools the most. CargoNet recorded a 16 percent increase in electronics thefts, including two million-dollar cargo thefts of computers during the month of September 2018.

Thefts at warehouses were the most common in third-quarter 2018, and 19 percent of cargo thefts in third-quarter 2018 took place at a warehouse location. Warehouse thefts also accounted for more than $3.7 million in loss value in third-quarter 2018. Thefts at truck stops were the next most common loss location (18 percent). Thefts at parking lots decreased dramatically, from 40 thefts in third-quarter 2017 to just 26 thefts in third-quarter 2018.

For more information, contact:
Eboni Thomas 
Edelman (for CargoNet) 
212-642-7784 
eboni.thomas@edelman.com