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The high cost of truck cargo theft

     Cargo Theft

Truck cargo theft is costing the Canadian economy about $5 billion per year.  Most at risk are high value loads of commodities such as food and beverages, clothing, shoes, home and garden supplies, electronics and auto parts.  Nuts, in particular, are targeted because of their high value and minimal security.
Cargo theft is on the rise because thieves see it as a low-risk crime with a high reward and full truckload thefts are particularly prevalent.  Almost 90% of all large-scale cargo thefts happen in unsecured parking areas.  The next most popular targets are warehouse/distribution locations.
In the U.S., California ranked as the top state for cargo theft with 21% of total thefts, followed by Texas, Florida, New Jersey and Georgia.

With increased collaboration and communication between trucking companies, insurance providers and law enforcement, it is hoped that this cooperation will help create more awareness around the risks of cargo theft.

For more information, contact William Sanchez, Manager – Truck Services.

Quick Tip #47
When taking control of your shipment is good business

Selecting the right Incoterm will allow you to get the most from your contract of sale during negotiations.

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