FreightWatch International, a global logistics security services provider, on Thursday, Jan. 19, announced that U.S. cargo theft hit another record high in 2011. FreightWatch says its annual U.S. Cargo Theft Report shows the year-over-year growth of this crime; 974 cargo theft incidents were recorded last year ,with an average value of $319,000 per theft incident. Continue Reading

Thieves are getting more tech-savvy when it comes to stealing cargo, and it’s becoming a growing trend, according to a recent insurance report and agencies that track such incidents. The latest tactic is to pose as a legitimate trucking firm to bid on transferring freight, going so far as to create a website to back up their identity. When they get the job, it’s as easy as picking up the cargo to steal it. Called “deceptive Continue Reading

The trickle-down effects of cargo theft can make everyone pay, but the price may not be higher than when it comes to stolen pharmaceuticals. The National Insurance Crime Bureau (NCIB) went so far as to call it a public health issue because of the detrimental effects it can have on the buyers of these stolen medicines. Insulin, for example, must be properly stored, and when acquired from a source on the black market, the buyer isn’t guaranteed that it’s been properly refrigerated. The Federal Bureau of Investigation (FBI) estimates that cargo theft costs the U.S. $15 billion to $30 billion a Continue Reading

A new report from FreightWatch International is now available to help manufacturing and logistics industries make more educated decisions about cargo security. Covering five years of theft data and analysis, the report examines theft trends over a longer period of time, which shows fluctuations specific industries have experienced in both rates of theft and average loss values. The Five Year Review special report includes theft rates over a variety of denominators such as month, state and product type; most common locations for thefts; areas with the highest risk and more. For a copy Continue Reading

Paperwork for for-hire carriers just got reduced, thanks to a final rule issued by the Federal Motor Carrier Safety Administration (FMCSA). As a result, they will no longer need to maintain a minimum in cargo insurance, and beginning in March 2011, carriers and freight forwarders will no longer have to file evidence of Continue Reading

Perhaps a byproduct of a rebounding economy, trucks at California ports are experiencing longer wait times with the increase in cargo traffic combined with staffing cutbacks necessitated by the economic downturn. Container traffic has risen nearly by double digits from one year ago at both the ports of Los Angeles and Long Beach, and that has left truckers waiting as much as Continue Reading

For the 18th straight year, Memphis International Airport held its position as the world’s busiest for cargo. Before the recession dampened global demand, some had predicted that Hong Kong could overtake the Tennessee airport. FedEx Corp.’s home airport actually widened the gap with Hong Kong, due to a drop in shipments from Continue Reading

A recent study finds that cargo thefts are becoming bolder, more targeted and, in some cases, more violent. The Supply Chain ISAC Report of Cargo Theft Activity for the third quarter of 2009 – a survey compiled and issued by LoJack Supply Chain Integrity (LoJack SCI) – indicates that while carrier terminals and yards are likely Continue Reading