Verisk CargoNet reports that while the total number of cargo theft incidents in the United States and Canada dropped by 26% during the second quarter, financial losses surged.

Key Points

• Cargo theft incidents fell to 677, a 26% decrease compared to the same period in 2025.
• Total estimated losses reached $304.6 million, more than doubling the $135.7 million reported last year.
• The average value per theft rose to $564,009, driven largely by high-value shipments of metals and enterprise technology.
• Law enforcement operations in states including California, New York, and New Jersey contributed to the decline in reported incidents.
• Non-delivery schemes and physical thefts of loaded equipment saw the most significant volume reductions.

Why it Matters

The sharp increase in total losses despite fewer incidents highlights a shift toward more targeted, high-value thefts by organized criminal groups. Industry experts warn that this quarterly data does not yet signal a long-term trend and emphasize that supply chain security remains a critical financial risk.