This is very true.
But in this specific case, as part of the implicit contract, the employees weren't expecting to be incinerated.
So I would categorize this case, economically speaking, as fraud, and, criminally speaking, as manslaughter.
I’ve worked on many dangerous jobs and seen people killed. None of them contracted to die or expected to. It’s always a case of how much risk is a worker willing to accept for the money paid.
Sure an employer that is indifferent to the dangers presented to the workers should be punished in some way but closing down the jobs on account of the low wages and rotten conditions is of little benefit to some starving peasant.
Of course shutting down a ship breaker or sweatshop gives a great feeling of moral superiority to those with full bellies and slick pink cheeks.