Largest liveaboard *ever* sells for US .01 - Page 3 - SailNet Community
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post #21 of 26 Old 10-24-2013
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Re: Largest liveaboard *ever* sells for US .01

There are 3 scrap yards in Florida that could handle it
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post #22 of 26 Old 10-24-2013
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Re: Largest liveaboard *ever* sells for US .01

The scrap value is on the order of $25M. Hopefully the yard who bought her will be able to tow her, cut her up, and deliver her to market for less than that amount.
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post #23 of 26 Old 10-25-2013
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Re: Largest liveaboard *ever* sells for US .01

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Originally Posted by Petrouschka View Post
The scrap value is on the order of $25M. Hopefully the yard who bought her will be able to tow her, cut her up, and deliver her to market for less than that amount.
The scrap prices that I have found assume delivered at that scrapyard. Thus, the cost of towing has to be deducted from the $25 million, but chopping it up does not.

Perhaps there are issues like asbestos or something else that makes this particular ship undesirable.
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post #24 of 26 Old 10-25-2013
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Re: Largest liveaboard *ever* sells for US .01

Asbestos, lead, oils, Cadmium and other heavy metals, etc. The cost of environmental compliance must be quite high.

An interesting cost comparison would be Oriskany. She was sunk as a reef in Florida. I wonder what it cost to prepare her for sinking? Surely it was more than $25M. (granted that likely required more cleanup and remediation than will Forrestal).
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post #25 of 26 Old 10-25-2013
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Re: Largest liveaboard *ever* sells for US .01

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Originally Posted by Petrouschka View Post
Asbestos, lead, oils, Cadmium and other heavy metals, etc. The cost of environmental compliance must be quite high.

An interesting cost comparison would be Oriskany. She was sunk as a reef in Florida. I wonder what it cost to prepare her for sinking? Surely it was more than $25M. (granted that likely required more cleanup and remediation than will Forrestal).
Again, what is different about military ships that makes these issues different from other ships? For one thing, there is apparently a regulation that prohibits scrapping of government ships outside of the US.
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post #26 of 26 Old 11-08-2013
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Re: Largest liveaboard *ever* sells for US .01

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"The Feds" had plenty of return on Forrestal. It served the Navy for 35 years! As it is, it would cost more than it is worth for the Navy to scrap it or clean it up for use as a reef. I am sure they were happy to let somebody else take over the costs of towing, docking, and cutting her up. As taxpayers we should also be happy that we aren't footing the bill for the hundreds of thousands of man-days it will cost to cut her into razor blades.
If this vessel had been owned by a private sector business, used 100% for business purposes, and depreciated on the owner's yearly tax returns, and then sold, there would be recapture tax.

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