A total of 221 cargo theft incidents were reported in the United States during first quarter 2016, up 8 percent from the same 2015 period, but average loss value per incident fell 56 percent, according to the latest report from FreightWatch International.
A total of 221 cargo thefts were reported in the United States throughout first quarter 2016, an 8 percent increase from first quarter 2015, according to the FreightWatch International Supply Chain Intelligence Center’s (FWI SCIC) U.S. Cargo Theft Report for 2015.
The average loss value per incident during the quarter, however, fell 56 percent year-over-year to $112,467. Compared with the previous quarter, reported Q1 2016 cargo thefts grew 13 percent in volume and dropped 13 percent in value.
FWI said in the report that no cargo theft incidents valued at or above $1 million occurred in the first quarter, compared with two in Q4 2015 and seven in Q1 2015, noting that the quarterly results are likely to rise above the current numbers due to delays in incident reporting. A total of 16 such incidents were reported for all of 2015, down from 21 in 2014.
The most common incidents during the first quarter continued to involve the theft of full truckloads, which accounted for 83 percent of all reported thefts.
During the quarter, food and drinks remained the most stolen product type, accounting for 20 percent of total reported cargo thefts in the U.S. Meats were the most commonly stolen product in this category, accounting for 25 percent of the category’s total, followed by canned and dry goods at 23 percent.
The home and garden category came in second, accounting for 14 percent of total incidents, followed by the building and industrial category, which made up 13 percent of the total; the auto and parts category and clothing and shoes each with 10 percent.
The electronics category, the second most stolen product type last year, dropped to sixth place in Q1 2016 with just 8 percent of the total compared with 15 percent for the full year in 2015.
Broken down by state, largest number of reported cargo theft incidents occurred in California with 21 percent of total thefts, a 2 increase from the previous quarter and a 42 percent year-over-year gain. Texas had the second most incidents, accounting for 15 percent of the total, followed by Florida with 14 percent, New Jersey with 13 percent and Georgia with 7 percent.
These top five states combined accounted for 70 percent of all reported cargo thefts during the first quarter of 2015.
The top states are at risk due to the presence of large seaports; the confluence of major interstates; and the presence of large, well-organized cargo theft rings, such as those based in Southern Florida and California, according to FWI.
FWI: U.S. cargo thefts decline in value in Q1 2016
