Cargo Shipping Snarls Are Wreaking Havoc In The Supply Chain. One Group That’s Not Complaining? Thieves

There were 1,778 ‘supply-chain risk events’ across the United States and Canada in 2022, an increase of 15% from 2021, according to CargoNet, a commercial theft-prevention and recovery service.

‘Scarcity and cost drove illicit market demand for goods that were most affected such as technology and food -- notably computer graphics cards, and raw beef, poultry, and pork,’ according to the service. ‘Available capacity eased in the later months of 2022, but theft remained a prominent threat.’

That said, the trends identified by CargoNet are supported by data from underwriters. ‘We have our own cargo-theft investigation team,’ said Scott Cornell, transportation lead, and crime and theft specialist for Travelers.

‘I use our internal numbers to validate the CargoNet figures, and yes, we are seeing the same things at street level, and hearing from law enforcement and transportation companies. The increases are surprising. I can’t recall numbers like this, and I’ve been at this a long time. Among my peer group, people are reaching out to each other.’