Tag: cargo theft

The Nigerian Navy has arrested 242 suspects and seized 76 vessels in a sweeping two-year crackdown on oil theft, which has impacted the country’s oil sector.

TT Club has warned that global tariff strategies have disrupted normal trading patterns and that will, in turn, inevitably increase operational risk in the global supply chain.

BSI Consulting and TT Club have issued their 2024 Cargo Theft Report, examining key trends and practices surrounding cargo theft. 

TT Club has released a security bulletin highlighting current security risks in the supply chain, like drug smuggling and cargo theft.

Freight crime in Italy has surged dramatically, with theft incidents quadrupling in the past two years, according to a report by TT Club, BSI SCREEN, and TAPA EMEA.

The humble container seal, though not infallible against determined thieves, remains a vital tool in ensuring cargo security and identifying theft. TT Club underscores the need for a robust security culture within the supply chain, highlighting the critical role of container seals in safeguarding global cargo transportation.

Allianz Commercial explains that in addition to the problems and disruptions caused by attacks against shipping in the Red Sea and the Middle East, together with drought in the Panama Canal, cargo theft is also on the rise, driven by current economic conditions.

In the recently published Annual Cargo Theft Report 2023 TT Club and BSI SCREEN Intelligence pinpoint high inflation as a primary macroeconomic driver of cargo crime patterns. The rise in food and beverages as a stolen commodity is one such indicator.

Disruptions through the global supply chain continue to create opportunities for criminals to infiltrate and access cargo, said TT Club in the second edition of its Supply Chain Security Bulletin.

According to global cargo theft reports issued jointly by TT Club and BSI, thefts from facilities and warehouses accounts for approximately 25% of recorded theft incidents. While this varies by country and region, it is influenced by implemented levels of both procedural and physical security measures.