Approximately
five percent of all container movements in the world result in loss
through theft, damage or excessive delays.
In the
U.S. alone each year, cargo theft costs industry $10-$12 billion
dollars. Insurance costs so much that many big companies self-insure
up to $1 million or more. But covering a loss that large can eat
up profits quickly.
The
vast stretches of highway and sea lanes between secure facilities
represent the easiest strike points. No cameras, fences, floodlights,
security guards or watchdogs protect cargo at rest stops, refueling
stations or on the high seas.
Thieves,
hijackers, terrorists and disgruntled employees susceptible to
bribes know this. Tighter security in warehouses, wharves and freight
yards has simply forced the thieves to migrate. 
Most companies use padlocks, locking bars or seals to protect cargo. They
do little to slow thieves down. Bolt cutters, wire cutters and pry bars
available at any hardware store for a few dollars can defeat them in seconds.
And within minutes, cargo worth millions can vanish without a trace. Shippers
usually discover thefts only after a vehicle reaches its destination. By
then, goods have been fenced; the chance of recovery is small.
As
a result, insurance rates have soared in the last decade, especially
since 9/11. Insurance now represents the fourth largest cost for
shippers after equipment, fuel and labor.
Learn
more about the problems facing shippers and government:
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