TRUCKS are the overwhelming target for cargo thefts, the second annual BSI and TT Club Cargo Theft Report 2020 reveals.
The report has been prepared by transport and logistics insurer TT Club and global supply chain intelligence provider BSI.
According to the report, there has been overwhelming targeting of cargo trucks compared with 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,” a joint statement from TT Club and BSI noted.
The BSI and TT Club Cargo Theft Report 2020 seeks to present itself as 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 around the world.
TT Club’s Mike Yarwood urged all those concerned about cargo security to read the report but identified one key trend.
“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,” Mr Yarwood said.
“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.”