By Cadys Wang    Photo:Julius Silver

The rising trend of cargo theft has raised concerns in society and prompted us to deepen and expand our understanding of this issue. The 2024 forecast indicates that the problem of cargo theft will continue to persist, so we must make even greater efforts to strengthen the corresponding preventive and responsive measures.

The latest data report reveals a staggering 57% growth in cargo theft cases during the second quarter of 2023, with a total value exceeding $44 million. This significant increase primarily occurs at major ports, highways, or logistics hubs, indicating the urgent need for enhanced security measures in these locations. Faced with the challenges posed by criminal organizations, the logistics industry must innovate technologically to address security vulnerabilities and ensure the smooth operation of the supply chain.

Cargo insurance becomes even more essential in this situation. While it may not prevent theft incidents from happening, cargo insurance can provide financial protection and mitigate financial losses for businesses when needed. This highlights the importance of regularly reviewing and updating cargo insurance policies to ensure that the coverage amount is sufficient to address potential losses that may occur during transportation.

When faced with cargo theft issues, maintaining a calm attitude and conducting thorough inspections are crucial. It is important to carefully examine whether the outer packaging is damaged, if the seals are intact, and to immediately report any abnormalities for further investigation. Additionally, providing photos or videos of the shipment as evidence can be helpful in subsequent claims processes.

By having such evidence ready and preparing your Invoice / Packing list / Bill of lading in conjunction with insurance, you can minimize your losses and protect your rights!

Overall, the logistics industry, law enforcement agencies, and relevant stakeholders need to work together actively to address the issue of cargo theft. This includes staying vigilant, utilizing technological means, promoting a culture of security, and collaborating with law enforcement agencies and peers to reduce the risk of cargo theft and maintain the stable operation of the global supply chain.

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