2018 May 8
Traditionally, when a ship reached the end of its economic life, the owner sold it, often to a cash buyer, for scrapping with little consideration of the next step. Many ships ended up on a beach in south Asia (India, Pakistan, or Bangladesh) where they were cut apart and the metal was sold for scrap. The working conditions were sometimes dangerous and hazardous to the workers' health. In addition, little was sometimes done to protect the environment. For many ship owners these days, scrapping is (or should be) a matter requiring business considerations beyond the offered cash price.