Cargo Theft: A Growing Threat to Supply Chains

Understanding the Surge in Cargo Theft

In recent years, the transportation and logistics industry has faced an unsettling rise in cargo theft. This growing concern not only disrupts operations but also poses significant financial risks. Those responsible for safeguarding goods and supply chains must recognize the urgency of this issue.

Key Statistics Highlighting the Threat

• A recent industry report reveals a 27% increase in cargo theft activity across the U.S. and Canada.
• The average financial loss per incident is staggering, averaging $202,364, underscoring the critical need for vigilance and proactive measures.

New Tactics Used by Criminals

Criminals are continuously evolving their methods. Identity theft and fraudulent pickups have become common techniques, primarily targeting high-value goods. Such sophisticated strategies demand enhanced security measures.

Shifts in Targeted Commodities

From 2023 to 2024, there has been a noticeable shift in the commodities targeted by thieves. Household goods and food/beverages have ascended as top targets, replacing previously sought-after items such as engine oils, solar energy products, and energy drinks.

The Imperative for Cargo Protection

Given these developments, cargo protection has never been more crucial. Comprehensive cargo insurance stands as a powerful tool, helping businesses shield themselves from financial loss and supply chain disruptions.

Taking Control Through Informed Actions

While the threat of cargo theft is real, businesses can take control by staying informed and proactive. Employing effective tools and strategies, especially comprehensive cargo insurance, can offer significant protection against potential losses. Remember, being aware and prepared is your best defense against costly theft and operational setbacks.

🚢 Fast Fact:

With ports along the Atlantic Ocean—like Port Newark and Port Elizabeth—handling billions in cargo annually, New Jersey is a key hub in U.S. logistics. But with a 27% rise in cargo theft across North America, these vital supply chains are increasingly at risk. Securing shipments with cargo insurance is no longer optional—it’s essential.