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Cargo Theft Rate Drops 14%, Estimated Loss Still Enormous

Cargo thieves took a bit of a beating in the second quarter of this year. Data from Jersey City-based CargoNet shows there was a 14% drop in “cargo theft events” from the same period a year ago. But what the crooks did snatch this time around still amounted to tens of millions in losses.

In Q2 2019, CargoNet recorded 308 “supply chain risk events” in the US and Canada. Of those recorded events, 50% involved the theft of one or more vehicles and 55% involved theft or a chain-of-custody issue with a shipment.

As for cargo thefts alone, 150 occurred, which accounted for that 14% decrease from Q2 2018. Yet that smaller number of thefts was still worth big bucks— equaling an estimated total value of $22.9 million. “In our first-quarter analysis, we noted trailer burglaries were becoming the preferred method of cargo theft,” CargoNet advised in a… Truckinginfo

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