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Hackers Help Drive Surge in Cargo Theft; Corporate Tariff Fears Ease By Mark R. Long | WSJ Logistics Report
Cyber criminals, armed with remote-management and malware tools, are finding and stealing high-value cargo by using online freight marketplaces to infiltrate logistics company computer systems . The WSJ's Paul Berger and Angus Loten write that cargo theft has risen sharply in the past five years, driven by organized criminal networks that are changing the way cargo is stolen
and moved on the black market.
In recent tactics identified by cybersecurity firm Proofpoint, hackers posed as freight middlemen, posting fake loads to online boards. They slipped links with malicious software into email exchanges with bidders such as trucking companies. By clicking on the links, trucking firms unwittingly downloaded remote-access software that lets the hackers take control of their online systems. Once inside, the hackers used the truckers' accounts to bid on real shipments. The goods are likely sold to retailers or to consumers in online marketplaces.
The value of stolen cargo is increasing as organized crime groups become more discerning, preferring high-value targets such as computer servers, according to Verisk CargoNet.The average value of stolen shipments doubled to $336,787 in the most recent quarter from a year earlier, Verisk said in a recent report.
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Quotable Trade Risk
Business leaders are sounding less gloomy about tariffs than they have for much of the year, talking less about risk when they discuss them with investors. The Wall Street Journal's Theo Francis writes that the subject is no longer dominating earnings calls like before, and for good reason: The real tariffs companies pay have turned out to be lower
than the headline figures.
Companies paid about 12% of the value of their imports as tariffs in October, Oxford Economics estimates. That is about 10 percentage points higher than in January, but well below the most dramatic rates announced by the administration. The U.S. has meanwhile hammered out new trade agreements, and Supreme Court justices this month questioned Trump's authority
to slap levies on nearly every country on Earth.
Companies have also gotten better at mitigating the cost-securing exemptions, raising prices, cutting spending and rearranging supply chains.
Number of the Day In Other News A Conference Board monthly index of U.S. employment trends improved
in September, though the government shutdown could affect future labor-market reports. (WSJ) Confidence among German firms worsened this month , as businesses downgraded their previous optimism of a hoped-for economic boost from the government's spending plans. (WSJ) Diana Shipping submitted a bid to acquire all outstanding shares of fellow dry-bulk carrier Genco Shipping & Trading it doesn't currently own for $20.60 a share in cash. (Dow Jones Newswires) Amazon said it will invest $50 billion
to expand AI and high-performance computing capabilities for its cloud business' U.S. government customers. (WSJ) Michael Bender was officially named
CEO of Kohl's, becoming the fourth CEO in as many years, after serving as interim chief since May. (WSJ) Australian logistics operator Qube granted Macquarie Asset Management exclusive due diligence after the local asset manager proposed a $7.5 billion takeover . (Dow Jones Newswires) United Parcel Service and FedEx are working to secure enough freight aircraft and are using third-party charters
after the grounding of MD-11 jets reduced capacity during the holiday delivery season. (Bloomberg) Western Global Airlines issued furlough notices
to some employees that will remain in effect while MD-11 freighters are grounded after the deadly crash of a UPS plane earlier this month. (Cargo Facts) The Port Authority of New York and New Jersey said in a news release that Rick Cotton will retire
as executive director of the agency in January, with a successor to be announced in due course. Airfreight volumes from Southeast Asia to the U.S. grew 6% in October
from a year earlier, as manufacturers switched away from China, according to WorldACD data. (Air Cargo News) European shipping emissions rose 13%
last year to their highest level since reporting began in 2018, even though EU seaborne trade declined, a new report shows. (gCaptain) Thirty-one commercial drivers were taken off the road for allegedly lacking lawful U.S. residency in an operation by federal and Texas state law enforcement on Interstate 40. (Transport Topics) About Us
Mark R. Long is editor of WSJ Logistics Report. Reach him at [mark.long@wsj.com]. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long , Liz Young and Paul Berger .
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
November 25, 2025 07:04 ET (12:04 GMT)
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