Millions of dollars of cargo sinks to the bottom of oceans as pressure to speed deliveries raises the risk of safety errors. (Photo: Bloomberg)
Containers piled high on giant vessels carrying everything from car tires to smartphones are toppling over at an alarming rate, sending millions of dollars of cargo sinking to the bottom of the ocean as pressure to speed deliveries raises the risk of safety errors.
The shipping industry is seeing the biggest spike in lost containers in seven years. More than 3,000 boxes dropped into the sea last year, and more than 1,000 have fallen overboard so far in 2021. The accidents are disrupting supply chains for hundreds of U.S. retailers and manufacturers such as Amazon and Tesla.
First Published: Apr 27 2021 | 1:08 PM IST