SINCE THE END of November, this is some of what has sunk to the bottom of the Pacific Ocean: vacuum cleaners; Kate Spade accessories; at least $150,000 of frozen shrimp; and three shipping containers full of children’s clothes. “If anybody has investments in deep-sea salvage, there’s some beautiful product down there,” Richard Westenberger, chief financial officer of the children’s clothing brand Carter’s told a conference recently.
You can blame the weather, a surge in US imports tied to the pandemic, or a phenomenon known as parametric rolling.
All told, at least 2,980 containers have fallen off cargo ships in the Pacific since November, in at least six separate incidents. That’s more than twice the number of containers lost annually between 2008 and 2019, according to the World Shipping Council.
Dispatches From The Front 