JERSEY CITY, N.J. — In the second quarter of 2019, CargoNet® recorded 308 supply chain risk events in the United States and Canada. Of those recorded events, 50% involved theft of one or more vehicles, and 55% involved theft or a chain-of-custody issue with a shipment. In the second quarter of 2019, there were 150 cargo theft events, a decrease of 14% from second-quarter 2018. The average cargo value per cargo theft was $152,844, for an estimated total of $22.9 million in cargo stolen across the United States and Canada in this analysis period. CargoNet is a Verisk (Nasdaq:VRSK) business.
In our first-quarter analysis, we noted trailer burglaries were becoming the preferred method of cargo theft. This pattern continued in the second quarter. We also noted a resurgence of fictitious pickup activity. Our data shows that fictitious pickups dropped slightly in the second quarter but were still common. CargoNet recorded fictitious pickup thefts in California, Ontario, Quebec, and Florida in the second quarter.
Food and beverage products were the most stolen commodity of the second quarter and grew when compared to second-quarter 2017 and second-quarter 2018. In the food and beverage category, meat products, alcoholic beverages, and nonalcoholic beverages were the most commonly stolen items. Household items were the second most stolen commodity but dropped compared to second-quarter 2017 and second-quarter 2018. Thefts of household cleaning products were the most commonly stolen items in the category, followed by furniture, household paper goods, and major appliances.
Cargo theft was most frequent in California, but recorded thefts dropped by 28% when compared to second-quarter 2018. Florida and Texas round out the top three states. CargoNet recorded decreases in thefts in both these states as well when compared to second-quarter 2018.
For more information, contact:
Brett Garrison
Edelman (for CargoNet)
212-639-4903
Brett.Garrison@edelman.com