Originally Posted by PalmettoSailor
There is a place in India where they run the ship up on the beach at high tide, then as the gut the ship from inside to lighten it, the haul it higher and higher up the beach until they can cut up and scrap every piece of it. It is dirty, dangerous work, with significant environmental impacts but it provides a living for people that would otherwise not have work.
It is this that I referred to earlier and whilst TV reports shouldn't be taken as gospel, they reported that the people who were buying these ships for $5m were reaping returns of $10m or more for the salvage of not only the steel but as has been said earlier, the gear that is taken off them.
They also reported that the poor buggers that were doing the dangerous work under appalling conditions were getting paid absolute peanuts. Isn't it nice to see capitalism at work