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Cargo theft saw big rise in 2022 | Spot rates drop off late-year gains to start 2023

Trucking news and briefs for Thursday, Jan. 12, 2023:

CargoNet 2022 cargo theft trendsAlmost half of all cargo theft reports occurred in California, Texas and Florida in 2022.CargoNetCargo theft recording firm CargoNet recorded 1,778 supply chain risk events across the United States and Canada in 2022, a 15% increase over 2021. 

The firm’s 2022 data indicated that events that involved theft of at least one heavy commercial vehicle such as a semi-truck or semi-trailer increased by 17% year-over-year, while events that involved theft of cargo increased by 20% year-over-year. CargoNet noted that a single event record could involve theft of one or more vehicles or shipments.

The average value of cargo stolen in an event was $214,104. CargoNet estimates that $223 million in cargo was stolen across all cargo theft events in 2022.

Supply chain disruptions were one of the main concerns of the year because of their effect on inflation, CargoNet said. Scarcity and cost drove illicit market demand for goods that were most affected, like computer graphics cards and raw beef, poultry and pork. Available capacity eased in the later months of 2022, but theft remained a prominent threat.

[Related: Thieves targeting control modules in trucks -- law enforcement intesifies warning]

Increases in theft activity around major intermodal hubs were significant. California remained the top state for reported events in 2022, and theft in the state increased 41% year-over-year. Computer and green energy components were some of the most frequently stolen items of the year, and California is a major logistics hub for these items.