The billion dollar plague of cargo continues to grow.
New statistics show a marked increased during the recently-concluded second quarter of the year, and an even bigger jump compared to the same period a year ago. These increases are being driven by international organized crime organizations using increasingly sophisticated electronic schemes, and new means to combat them are required.
CargoNet, a Verisk Analytics product, says in a recent statement it recorded 884 supply chain theft events across the United States and Canada in the second quarter of this year. That represents a 13% increase compared to the same period in 2024 and a 10% increase from the first quarter of 2025.
The estimated total loss value exceeded $128 million when applying average loss values to incidents where specific values were not reported, according to CargoNet.
This latest report comes as federal legislators continue to hear about the growing problem from industry officials.
The company’s data reveals an acceleration in theft activity throughout the quarter, with incidents increasing:
- 14.6% in April
- 4.4% in May
- 21.9% in June
Theft of metals experienced the most dramatic increase, nearly doubling with a 96 percent year-over-year surge to 53 incidents, according to CargoNet. This unprecedented growth coincides with copper trading near or above record highs, suggesting that organized crime groups strategically adjust their targeting based on commodity market values.
CargoNet also reports food and beverage products also saw substantial growth, with 180 reported incidents representing a 68% increase from Q2 2024. This category now accounts for over 20% of all cargo thefts, with alcoholic beverages, energy drinks, and meat products being primary targets.
“The strategic targeting of specific commodities reveals the business-like approach of modern cargo theft operations,” said Keith Lewis, vice president of operations for Verisk CargoNet, “These aren’t opportunistic crimes – they’re calculated operations targeting goods with the highest illicit-market value and easiest resale potential.”
The average stolen shipment value of $203,586 represents a significant economic impact on the supply chain, with ripple effects including increased insurance costs, delivery delays, replacement orders, and ultimately higher consumer prices.
Looking ahead to the remainder of 2025, CargoNet analysts warn that complex cargo theft schemes involving document fraud and identity theft are becoming increasingly prevalent. These sophisticated operations, often perpetrated by international organized crime groups, are evolving rapidly to circumvent industry anti-fraud efforts.
“Traditional physical security measures alone are no longer sufficient,” said Lewis. “The industry must adopt a multi-layered approach combining physical security, digital verification, and real-time intelligence sharing to combat these evolving threats.”
The Senate Judiciary Committee earlier this week heard from numerous witnesses about the impact of cargo theft. In February, the Senate Commerce, Science and Transportation Subcommittee on Surface Transportation, Maritime, Freight, and Ports took testimony on the problem.
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