FreightWatch International: Cargo Theft Down But Average Loss Up

Cargo Theft

According to FreightWatch International, in the third quarter of 2014, there were a total 194 reported cargo thefts and 14-Last Mile Courier thefts bring the total number of cargo theft to 208 incidents.

Seventy thefts occurred in July, 76 occurred in August and the number dropped to 48 in September.

The average loss value per theft was $321,521.

Though the number of cargo thefts dropped 20%, the average loss value increased 104%.

“The average loss-value ceiling continues to rise and illustrates that organized cargo thieves continue to aggressively target high value freight,” FreightWatch International states.