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Cargo Theft Report Confirms Upward Trends in 2019

  • Cargo in transit by road remains the dominant risk
  • Food & beverage cargo increases share of commodity profile
  • Thefts confirmed from unsecure truck parking average 8 per day globally
  • South America ranks highest in median value of cargo per incident in unsecured locations

19th February, 2020

The second annual report on cargo theft worldwide, issued today by leading international transport and logistics insurer, TT Club and global provider of supply chain intelligence, BSI confirms the overwhelming targeting of cargo trucks compared to all other modalities. The consistency of this trend year-on-year is also reflected in the 2019 data analysis of top commodities stolen; food and beverages representing 28% of all reported thefts in comparison with 19% in 2018. Other 2018 to 2019 results comparisons are presented in infographic #1 below.

The BSI and TT Club Cargo Theft Report 2020, available here  is unique in that it analyses data from BSI’s supply chain security country risk intelligence tool, SCREEN and TT Club’s insurance risk management and loss prevention insights. The authors believe the report can play a significant role in educating supply chain professionals in the detailed risk of cargo theft across the globe. Both parties are committed to a proactive approach to minimising human, material and financial losses resulting from cargo crime.

TT Club’s Mike Yarwood urges all those concerned about cargo security to read the report but emphasises one identified trend in particular, “Thefts either of, or from road vehicles most frequently occurred while in transit, in rest areas or an unsecured parking location. These accounted for 60% of those thefts reported. Interestingly, our infographic (#2 below) gives more detail from the regions with confirmed thefts from unsecured parking areas. The median value of losses from these incidents ranges from $100,000 in South America to just over $11,000 in parts of Asia. We are particularly keen to draw attention to the dangers of such informal parking and encourage the provision of more secured truck stop facilities.”

The report includes further advice on how theft risks can be reduced. This section is once more co-authored by BSI’s Advisory Supply Chain Security team and the TT Club’s claims and loss prevention team.

ENDS

About TT Club

TT Club is the established market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry. TT Club’s primary objective is to help make the industry safer and more secure. Founded in 1968, the Club has more than 1100 Members, spanning container owners and operators, ports and terminals, and logistics companies, working across maritime, road, rail, and air. TT Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. It retains more than 93% of its Members with a third of its entire membership having chosen to insure with the Club for 20 years or more.  

About BSI

BSI is the business improvement company that enables organizations to turn standards of best practice into habits of excellence. For over a century BSI has championed what good looks like and driven best practice in organizations around the world. Working with over 84,000 clients across 193 countries, it is a truly international business with skills and experience across a number of sectors including automotive, aerospace, built environment, food, and healthcare. Through its expertise in Standards Development and Knowledge Solutions, Assurance and Professional Services, BSI improves business performance to help clients grow sustainably, manage risk and ultimately be more resilient.

To learn more, please visit: www.bsigroup.com

About BSI Supply Chain Services and Solutions
BSI Supply Chain Services and Solutions is the leading global provider of supply chain intelligence, global supply chain verification auditing services, audit compliance and risk management software solutions, and advisory services. BSI’s supply chain services and solutions and services can work independently to address specific needs or combined together to gain unparalleled visibility into your global operations. Implementing BSI’s holistic supply chain risk management suite provides organizations with a complete solution for a more sustainable and secure supply chain.

To learn more, please visit www.bsigroup.com/supplychain

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