Cargo theft up in Q3: CargoNet

by Truck News

JERSEY CITY, N.J. — Cargo theft is up when comparing this third-quarter to the same time last year, according to CargoNet.

The cargo theft reporting company claims that in Q3, there were 447 reported incidents, which represents a 2% increase from last year’s Q3 results. Of the 447 incidents, 309 incidents involved theft of a motor vehicle, 201 incidents involved theft of cargo, and 35 incidents involved fraud. In total, CargoNet recorded $23.7 million in cargo stolen in third-quarter 2016, which is down $8.2 million from third-quarter 2015. The average cargo theft was worth $118,000 in third-quarter 2016, compared with $144,000 in third-quarter 2015. In third-quarter 2016, there were six incidents valued at $1 million or more, with an average value of $1.58 million.

As well,  cargo theft in most states decreased, but CargoNet recorded a 40% increase year over year in reported cargo thefts in California.

In third-quarter 2016, electronics items were the costliest commodity loss but dropped from $14.5 million in third-quarter 2015 to $7.8 million in third-quarter 2016. Theft of household items was the second costliest loss, at $4.6 million. Household items also increased 138% year over year. Food and beverage commodities remained the most stolen commodity but decreased 22% year over year.

In Q3, a total of 202 tractors and 192 trailers were stolen. Thefts of intermodal chassis and containers decreased from third-quarter 2015, but thefts of tractors and trailers increased 31% and 24%, respectively.

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