Strong rise in cargo theft

Cargo theft is increasing rapidly. A new case of truckload theft is now reported almost daily, whereas there were only a few cases per month up until recently. Consequently, transport insurers are increasingly deciding to exclude coverage for theft, especially in the case of high-value consignments.

‘Since January, there has been a spike in cargo theft,’ says Jos Vilten of transport insurer MS Amlin in Dutch business newspaper Het Financieele Dagblad. ‘At some point, it is no longer sustainable. Then it’s simple: either you increase the insurance premium or the excess, or you start excluding coverage.’

Vilten attributes the rise in cargo theft – in a “bad” week, the value of goods stolen from trucks amounts to €150,000 – to the popularity of online freight marketplaces such as Germany’s Timocom or Belgium’s Teleroute. Shippers use these marketplaces to search for carriers. Unfortunately, however, they attract not only bona fide carriers but also criminals.

Undercutting the market

Criminals succeed in winning transport contracts by slightly undercutting the market price. As soon as the cargo is on the truck, it departs (fitted with fake licence plates) – but not for the intended destination. Consignments of solar panels and mobile phones are particularly targeted by the criminals. Increased border controls, leading to more downtime and unscheduled overnight stays, also make the transport industry more vulnerable to theft.