CargoNet encourages supply chain stakeholders to beef up their security measures over the holiday weekend. (Credit: TTstudio/Adobe Stock)
From 2019 to 2023, there were a total of 146 cargo theft events reported — an average of 29 each year — from the Thursday before Memorial Day to the following Wednesday, according to data from CargoNet from Verisk. The cargo stolen in this period cost an average of $246,016 per event. Three of the thefts had losses exceeding $1 million.
Data from this five-year period showed a significant uptick in cargo thefts. There were 16 reported events in 2022, which increased to 40 cargo thefts in 2023. About 17% of Memorial Day weekend thefts happened the Friday prior to the holiday, though a significant number of thefts were also recorded on the Tuesday (15%) and Wednesday (15%) after Memorial Day.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
