Market Overview

Today's Pickup: Cargo Thefts Drop in 2018

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Today's Pickup: Cargo Thefts Drop in 2018

Good day,

Cargo thefts fell in 2018, according to a report from supply chain security company SensiGuard. The firm reported 592 cargo thefts in 2018, a 19 percent decline from 2017. The average value of a theft was $142,342.

More thefts occurred in California than any other state, with 26 percent occurring in that state. Texas, at 15 percent, and Florida, at 11 percent, were the next highest states for thefts.

Electronics were the most likely item stolen, according to SensiGuard, with 20 percent of thefts involving electronics. Home and garden items were the next most stolen items at 16 percent and food and drinks third at 14 percent.

Thieves most often targeted full truckloads of goods, which represented 74 percent of all cargo thefts.

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Did you know?

Under a tentative deal reached by EU negotiators, emissions for trucks in Europe will have to be reduced 15 percent by 2025 compared to 2019 levels.   

Quotable:

"We believe data over the next 4-6 weeks and into bid season will be critical to demonstrating whether 2019 is shaping up for a prolonged freight recession or a quick rebound post restocking."

Morgan Stanley, in its latest Truckload Freight Index report 

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In other news:

Warehouse approved over councilor objections

An Ohio city council approved a new Kroger warehouse, but not without controversy. (Journal-News)

Montana trucker recognized as a "Montana Treasure"

Truck driver Larry Spiekermeier, nicknamed "Trusty Trucker" for his four-million miles of safe driving in all 50 states, was recognized as a "Montana Treasure" by local TV station KTMF. (KTMF)

European Union reaches deal to cut truck emissions

The European Union has reached agreement on a reduction of truck emissions, coming in two waves over the next 11 years. (Reuters)

Slow roll truck caravan planning Thursday protest

A group of truckers is planning a "slow roll" of trucks down Indiana's I-495 on Thursday to protest regulations. (WTTV TV)

Maersk, MSC halt shipping lane due to weak demand

Maersk and MSC have halted an Asia-North Europe route due to weaker-than-expected demand. (The Loadstar)

Final Thoughts

Due to the driver shortage, more mainstream media outlets have been reporting on the plight of truck drivers, so it was a pleasure to see this report from television station KTMF in Montana that recognized the "Trusty Trucker" as part of its Montana Treasure series. The Trusty Trucker, aka Larry Spiekermeier, has logged more than four million miles of accident-free driving, hauling heavy loads for much of his career, that resulted in him visiting all 50 states. Spiekermeier was tabbed in 2017 to haul the Capitol Christmas Tree. When people discuss the poor image of trucking, it's not drivers like Spiekermeier they are talking about. The industry needs more Larry Spiekermeiers.

Hammer down everyone!

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Posted-In: Cargo Freight FreightwavesNews Eurozone Global Markets General

 

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