Freight hubs and major cities across the United States and Canada are experiencing a significant increase in cargo theft, with incidents rising by 49 percent in the first half of this year compared to the same timeframe in 2023, according to a new report. 

The surge in theft incidents has been accompanied by a dramatic rise in financial impact, according to Overhaul’s H1 2024 Cargo Theft Report for the United States and Canada. The average loss per incident surged to $115,230, representing an 83 percent jump from the same period in the previous year. This trend highlights the increasing sophistication and boldness of cargo thieves, who are now strategically targeting high-value shipments. 

California remains the epicenter of this crisis, accounting for 45 percent of all reported cargo thefts, followed by Texas at 14 percent. Particularly concerning is the Southern California Red Zone, defined as the first 200 miles of travel for shipments departing from this area, which alone concentrated 36 percent of all cargo thefts in the country, averaging 58.6 thefts per month, nearly two each day. This region experiences as many cargo thefts as Texas, Tennessee, Illinois, Georgia and Arizona combined. 

Electronics emerged as the top target for thieves, accounting for 23 percent of all thefts, with home and garden products trailing at 14 percent. The report also reveals a troubling shift in criminal tactics. Facility thefts have surged, now comprising 19 percent of incidents, a notable rise from just 4 percent in the first half of 2023. Furthermore, large-scale pilferage has become more prevalent, leading to a 17 percent increase in the average value of pilferage thefts. 

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“This report should be a wake-up call. We conduct this research to help quantify the risk shippers need to mitigate in their supply chains. The increasing frequency and scale of cargo thefts make it clear that companies need more supply chain risk management and control over their shipments," said Barry Conlon, CEO and founder of Overhaul, a global provider of in-transit supply chain risk management and actionable intelligence. “Criminals are not only more organized, but they’re also tracking loads as they leave warehouses and distribution centers known to store valuable products, waiting to strike when vehicles are left vulnerable.”