Over the last five years, 126 cumulative cargo thefts were reported during the Memorial Day holiday period according to CargoNet®*. The number continues to increase year-over-year with a 36% uptick in reports from 2015 to 2016. They analyzed data from the Wednesday before to the Wednesday after the observed holiday from 2012 to 2016. Trends found that most cargo was taken from warehouses, truck stops and carrier/terminal lots.
This year’s report showed that Wednesday was the top day for thefts with 24. Besting Saturday by one occurrence (23 reports). The thefts tended to occur on Friday, Saturday and Sunday during the weekend. The top five states remain: California, Florida, Texas, Georgia and New Jersey. These states rank in the top ten for number of transportation and warehousing establishment per a Site Selection here report. They all have robust coastal ports as well. (Inbound Logistics, Brookings Institute)
Cargo Value and Theft Trends
Over the last three years, the total loss value has increased from $6.4 million in 2014 to $11.2 million in 2015 to $15.7 million in 2016. This is a 40 percent yearly increase not accounting for inflation. The average theft value increased as well from $152,397 (2014) to $201,144 (2015) to $219,420 (2016). Notable thefts over the last five years are highlighted in the below list.
• $2,920,000 in Communications Equipment Stolen from Memphis, TN
• $1,500,000 in Computer Tablets Stolen from Wilmington, DE
• $1,200,000 in Seafood Stolen from Elizabeth, NJ
• $900,000 in Video Game Systems Stolen from Carson, CA
• $600,000 in Communications Equipment Stolen from West Memphis, AR
The summary infographic is below. View the full CargoNet Memorial Day Weekend Cargo Theft Trends and Security Tips & Best Practices here.
*CargoNet is a Verisk Analytics (Nasdaq: VRSK) business.