Ship breaking or ship demolition is a type of ship disposal involving the breaking up of ships for either a source of parts, which can be sold for re-use, or for the extraction of raw materials, chiefly scrap. It may also be known as ship dismantling, ship cracking, ship recycling, or ship disposal. Modern ships have a lifespan of 25 to 30 years before corrosion, metal fatigue and a lack of parts render them uneconomical to run. Ship breaking allows the materials from the ship, especially steel, to be recycled and made into new products. This lowers the demand for mined iron ore and reduces energy use in the steel-making process. Equipment on board the vessel can also be reused. While ship breaking is, in theory, sustainable, there are concerns about the use of poorer countries without stringent environmental legislation. It is also considered one of the world's most dangerous industries and very labour-intensive.
In 2012, roughly 1,250 ocean ships were broken down, and their average age is 26 years. In 2013, Asia made up 92% of the tonnage of vessels demolished, out of a world total of 29,052,000 tonnes. India, Bangladesh, China and Pakistan have the highest market share and are global centres of ship breaking, with Alang being the largest 'ships graveyard' in the world. The largest sources of ships are states of China, Greece and Germany respectively, although there is a greater variation in the source of carriers versus their disposal. The ship breaking yards of the Indian subcontinent employ 100,000 workers as well as providing a large amount of indirect jobs. Water-craft produce 10% of India's steel needs.
A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. Early incorporated entities were established by charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration.
Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered into two kinds: by whether or not they can issue stock, or by whether or not they are for profit.
Where local law distinguishes corporations by ability to issue stock, corporations allowed to do so are referred to as "stock corporations", ownership of the corporation is through stock, and owners of stock are referred to as "stockholders." Corporations not allowed to issue stock are referred to as "non-stock" corporations, those who are considered the owners of the corporation are those who have obtained membership in the corporation, and are referred to as a "member" of the corporation.
The mainline of the CORP is 389 miles (626km). Traffic is estimated at 17,000 cars per year, consisting mainly of logs, lumber products, and plywood. CORP is a subsidiary of Genesee & Wyoming, which acquired the railroad as part of its acquisition with RailAmerica in late 2012. Until 2007, CORP also operated the 136-mile (219km) Coos Bay branch, another line once owned by the SP.
On May 17, 2007, CORP was awarded a Silver E. H. Harriman Award in Group C for the railroad's safety record in 2006. This award marked the first time a RailAmerica-owned railroad has earned a Harriman award.