Fast-moving changes in supply chains across the world are more complex and unexpected than ever, says international freight and cargo handling insurer, TT Club.
A kilo of cocaine is worth between US$1,500 and US$2,200 in producing countries such as Colombia. By the time it reaches consumer markets in Europe and North America, it can be worth between US$30,000 and US$80,000. Such is the profit incentive for drug traffickers.
Sea-going containers are an attractive mode of transport for these illicit cargoes. Inspections at ports and increased resources aimed at detection make up part of the armoury in fighting the burgeoning crime of drug smuggling but technology in the form accurate tracking of containers and their contents is becoming more sophisticated.
“Our latest Supply Chain Security Bulletin delves into the data relating to this crime and also the methods evolving in an attempt to minimize the consequences,” says TT’s Mikle Yarwood. “The graphic below gives some sense of both the level of increase in the problem and the successful seizures in recent years.”
Top 10 countries by number of cocaine seizures and quantity seized (in kilograms), 2022–2023. Image credit: World Customs Organization – Enforcement and Compliance: Illicit Trade Report 2023
Focusing on the U.S.’ cargo crime profile, TT’s claims analysis revealed in the Bulletin shows a significant increase in the total number of reported thefts of all types of cargo, up by over 60 percent in 2024 over two years prior. Thefts of full loads from cargo handling facilities or depots made up nearly half of these last year as opposed to 29 percent in 2023. A change in regional trends across the States are also examined and illustrated in the graphic below.
Top 4 states claims 2022–2024. Image credit: TT Club
Photo credit: iStock/ Parkpoom
