Page 46: of Maritime Reporter Magazine (September 2023)

Shipping & Ports Annual 2023 CARGO THEFT ©Thomas Sztanek/AdobeStock

What’s Driving the Increase in

Cargo Theft?

By Florian Krampitz at Allianz Commercial here has been a signi? cant rise in cargo theft in recent With a stolen commodity value of $107m in 2022 – a sig- years, with a change in the goods being targeted and ni? cant increase on the $68m reported in 2020 – cargo theft is increasingly sophisticated tactics used by criminals. clearly a risk that calls for heightened vigilance.

TBusinesses need to be aware of the heightened risk and Similarly, Allianz has seen an uptick in cargo theft incidents review their logistics and supply chain strategies to mitigate it. in recent years and particularly in transportation and logistics.

Supply chains in North America faced a spike of 13% in In North America, the number of theft claims has increased the volume of cargo theft between 2021 and 2022, with an for the past six years in a row in this area with a 20% increase increase in value of 16%, a trend that has continued in 2023. year-on-year in 2022 (169 claims). The total for 2023 is likely

While electronic goods remain highly vulnerable, thieves are to surpass 2022.

increasingly targeting household items and food and bever-

Where is Theft Occurring?

age, indicating that in? ationary pressures are driving changes in criminal activity. According to CargoNet, warehouses and distribution centers

In line with evolving supply chains, criminals are develop- are the most vulnerable locations across North America fol- ing sophisticated and organized methods to gain access to car- lowed by parking lots and truck stops. Incidences of cargo theft go, ranging from straightforward theft, cyber-attacks, fraud, in North America vary according to state, with areas that are and technology-based crime. ports of entry and also large distribution centers dominating.

The consequences for businesses can be grave. Supply

Types of Cargo Theft chain disruptions caused by theft prevent shippers delivering products to customers promptly and safely, while a failure to Criminals use a variety of tactics when targeting and steal- meet contractual obligations can lead to reputational risk and ing cargo. Straight theft (where the driver and/or commodity is loss of market share. being watched by thieves) was the most common occurrence 46 Maritime Reporter & Engineering News • September 2023

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