The average loss value per incident in the third quarter fell 17 percent from the previous quarter to $117,137 amid a 24 percent increase in the number of theft incidents, according to data from Sensitech United Technologies.
A total of 160 thefts of cargo occurred in the United States during the third quarter of the year, with 57 of the incidents occurring in July, 56 in August and 47 in September, according to a new analysis by Sensitech United Technologies, the firm formerly known as FreightWatch Intl.
The average loss value per incident during the quarter fell 17 percent from second quarter 2017 to $117,137 amid a 24 percent increase volume. Compared to the same quarter in 2016, the figures represent a 4 percent increase in value and an 18 percent decrease in volume, according to Sensitech.
Just one theft valued at over $1 million was recorded in the third quarter, compared with four for Q2 2017 and five in Q3 2016.
Building and industrial materials accounted for 19 percent of total thefts in the previous quarter with an average value of $66,418, according to Sensitech. The types of building and industrial items taken primarily consisted of industrial equipment (30 percent) and building supplies (23 percent), data show.
Tying for second on the quarterly theft list were the food & drinks and home & garden categories, which each logged 18 percent of total thefts. Electronics came in as the fourth most stolen product type at 10 percent, with a higher than usual average value of $459,721, which was a 48 percent increase over Q2 2017, Sensitech said.
Among the categories of electronics stolen, the primary target was televisions (44 percent), according to Sensitech data.
Rounding out the top five most stolen product types last quarter was auto & parts, with 9 percent of the total, up by 25 percent and 42 percent, respectively, over Q2 2017 and Q3 2016.
Primary goods stolen within the auto & parts category were tires, which accounted for 64 percent of thefts, statistics show. Theft of auto & parts products rose by 25 percent over Q2 2017 and by 42 percent over Q3 2016, Sensitech said.
The top three product types together accounted for 55 percent of all recorded cargo theft during the previous quarter.
Several product types experienced elevated theft volume in Q3 2017 when compared to Q2 2017 as well as Q3 2016, according to Sensitech’s supply chain intelligence center, including building & industrial, where thefts spiked 102 percent over Q2 2017 and 128 percent over Q3 2016.
Food and drinks thefts were up 8 percent from Q2 2017 and about 1 percent from Q3 2016, according to data, while thefts of metals jumped 142 percent over Q2 2017 and 109 percent over Q3 2016.
On the other hand, some product types saw decreased totals from both comparative quarters, including alcohol, clothing & shoes, electronics, personal care and pharmaceuticals, which each dropped from Q2 2017 by 68 percent, 37 percent, 19 percent, 52 percent and 80 percent respectively. They also fell from Q3 2016 by 51 percent, four percent, 44 percent, 54 percent and 86 percent, respectively, Sensitech said.
As far as locations where the thefts occurred, Texas claimed the top spot in Q3 2017 with 24 percent of total thefts, predominantly building & industrial (44 percent) and home & garden (26 percent) products. The numbers represented increases of 105 percent and 23 percent over Q2 2017 and Q3 2016 theft volumes, respectively.
California came in second with 24 percent of the total, an increase of three percent over Q2 2017, but a decrease of 49 percent from Q3 2016. Thefts in California were mainly comprised of clothing & shoes and electronics (21 percent each), according to Sensitech.
Florida, Georgia and New Jersey each tied for third, with 9 percent of thefts each, data show.