Report Tracks Rise In Cargo Theft From Storage Facilities

In-transit cargo thefts decreased in 2020 while thefts from warehouses and other storage facilities grew worldwide, according to a 2020 annual cargo theft report from logistics insurance company TT Club and supply chain intelligence firm BSI, released this week.

Last year was an atypical year for cargo theft due to the Covid-19 pandemic, according to the report, which tracks cargo crime trends around the world.

Growing stockpiles of products, new high-value targets such as personal protective equipment (PPE), and the potential for the vaccine supply chain to come under threat contributed to the strange year and are expected to shape trends in 2021 as well.

‘The effects throughout 2020 of the Covid crisis threatened supply chain security, continuity and resilience,’ said TT Club’s Mike Yarwood, managing director, loss prevention.