Plus: Ceva hit by a jaw-dropping $18M cargo theft wave, FMCSA revives its fatal crash study after two decades, Trump fires an STB board member ahead of the $85B rail merger review, and more.
Funny Freight Friday: Only your 8th grade e-mail address will do.
FMCSA is launching its first fatal truck crash causation study in nearly two decades, aiming to pinpoint driver, vehicle, and environmental factors shaping deadly crashes and future safety policy.
FreightWaves reports Ceva Logistics lost over $25 million in cargo thefts in 2024–25.
It is well known that cargo theft remains one of the fastest-rising threats in freight transportation, with organized crime rings increasingly targeting unsecured trailers, outsourced loads, and unvetted carriers. FreightWaves recently reported that Ceva Logistics has suffered at least eight theft incidents over the past year, losing more than $18.3 million in high-value electronics.
Sources told FreightWaves that the thefts stemmed from repeated lapses in security practices, including:
In one case, a truck trailer under Ceva’s management carrying $15 million in Apple products and AMD semiconductors was stolen in Reno, Nevada. Police later recovered the empty trailer, but the GPS tracker had not been activated, raising concerns of possible inside involvement. Other Ceva-managed loads stolen over the past year included:
According to Verisk CargoNet, theft activity across North America increased 27% year-over-year in 2024, with total losses topping $455 million.
The FreightWaves reporting prompted strong commentary on LinkedIn. Ryan Joyce, CEO of GenLogs, noted that Ceva reportedly self-insures its freight, meaning it directly absorbed more than $25 million in cargo theft losses in the last year alone.
Joyce highlighted three main points in his post:
Joyce stressed that tighter direct engagement with carriers, rather than reliance on intermediaries and load boards, is crucial to reducing exposure to theft.
Ceva is not alone. Freight-related crime has become increasingly sophisticated across the industry, often involving double brokering, fictitious pickups, and altered bills of lading. Keith Lewis, vice president of operations for Verisk CargoNet told FreightWaves that “clusters” of theft are not unusual, with rings targeting the same commodities repeatedly.
CargoNet data shows:
For Ceva and other providers, the financial and reputational implications are significant. Self-insured companies must pay losses out of pocket, while shippers risk product shortages and gray-market resale of stolen goods.
This situation is just another example of how difficult it can be for large 3PLs to enforce consistent standards across sprawling networks of facilities and outsourced carriers. As Joyce noted in his LinkedIn post, the real question for shippers is whether their logistics partners can prevent theft in the first place, not just manage the aftermath.
Source: FreightWaves | Ryan Joyce/LinkedIn
Authorities say two Los Angeles hardware stores were fronts for a $4.5 million cargo theft ring in Southern California.
A high-value load moved across the country with all checks cleared, until GenLogs spotted something no one else did.
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Fifteen stolen loads. Four fake carriers. One ring of trucks hiding in plain sight. GenLogs uncovers how zip-tied plates, swapped MCs, and a $200K solar panel swipe exposed a coast-to-coast cargo theft network brokers missed.
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