A majority of supply chain cargo theft takes place during the ‘in-transit’ phase, according to a report by international transport and logistics firm TT Club.
The ‘BSI Cargo Theft Report H1 2018’, which TT Club published with BSI Supply Chain Services and Solutions, says a cargo is most vulnerable when it is moving to or from the port.
It also points out that South America is the region which suffered from the highest number of cargo truck hijackings in the first half of 2018, with Brazil the most dangerous country.
The average value of a single theft in South America is almost USD $78,000, with North America and Europe losing $65,666 and $55,971 in an average theft respectively.
Asia, on the other hand, lost just $14,582 per theft.
The report blamed organized crime for the rate at which South America, in particular, Brazil, suffers cargo theft.
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It also points to a lack of sufficient police resources as a reason for Brazil’s woes.
While the country is home to the highest number of cargo attacks in the world, other countries in the region are also a cause for concern, such as Argentina, Chile and Peru.
The most common items stolen were food and beverages, but consumer goods came second.