The National Insurance Crime Bureau reports that stolen construction equipment continues to be an expanding dilemma that many construction companies have to deal with. Over $1 Billion is lost annually due to stolen construction equipment and tools. One reason that is contributing to this growing issue stems from the street gangs that use stolen construction equipment to finance their activities.
When gangs steal heavy machinery in the United States, it is rarely sold in the US black market. To avoid federal agents, gangs use the international black market for selling the equipment. The thieves ship heavy machinery in containers to transport the stole cargo overseas.
What is even more alarming is that the thieves might infiltrate the logistics industry to go after construction equipment. While there are many shipping commodities stolen every year, it seems that heavy machinery can be a major target. The thieves might target shipping warehouses and even ports. Ever year, US Customs and Border Protection recovers some stolen construction equipment at the ports. California boasts the most construction equipment thefts annually because of their massive shipping ports.
Shipping heavy machinery might seem a little daunting due to the possibility of theft. Although most equipment has a 17-digit product PIN to identify them, most stolen machines are gone forever. Some companies are shipping their machines with a tracking device as a safe plan. The best thing a construction company can do to avoid theft is to work with a reliable freight forwarder who has great record of ensuring safe transportation of construction equipment.