Cargo theft: a billion-dollar problem

The marine industry loses billions to cargo theft and cargo loss each year. Meanwhile, new technology is proving to be both a blessing and a curse, as cyber-piracy and digitalised theft are on the rise.


The issue of cargo theft and cargo loss has long been miscalculated, with largely inaccurate assessments of the true financial damages suffered.

Recently, insurance broking and risk management company Marsh brought the problem back into the spotlight in their ‘Changing Tide of Risk’ report, which argues that the consequences of the major political and economic events of 2016, together with new technological advancements, are creating new risks and opportunities for the global maritime sector.

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