The 2009 Annual Cargo Theft Report, published by FreightWatch International, has revealed that industry-wide cargo theft rose by 12 percent last year
By Ellie Duncan
The Report showed there was an average of 72 cargo theft incidents per month, the most ever recorded.
Electronics, the industry most heavily hit by cargo theft, accounted for 23 percent of total theft activity, with an average loss value of $806,000 per incident, closely followed by the pharmaceutical sector.
Barry Conlon, CEO of FreightWatch, said that over the last year, companies had increased their proactive security measures.
“This combined with a decrease in total shipping during 2009, primarily due to decreased global demand resulting from the recession, has forced cargo theft gangs to become more aggressive and increase their active targeting unprotected high-value loads,” Conlon added.
The research shows that the average loss per incident for nearly all commodity groups increased in 2009.
Edited by Jennifer Denby
For more information, visit www.freightwatchintl.com