What’s a Company to Do With a Luxury Cruise Ship It Can’t Send Out to Sea? Sell It for Scrap Metal
The near-global halt in operations has lead companies to tackle the difficult question of what to do with their luxury ships when hardly anyone is traveling or allowed to travel. Some have decided to sell their ships for scrap metal. Ships can cost anywhere from $500 million to $1 billion to build and typically have a lifespan of 40 years, per the Financial Times. The Times reports that selling a ship for scrap metal, which average about 25,000 metric tons without fittings, could bring in about $4 million.
