"Your shipment has arrived, thank you for choosing failboat freight services"
But yeah my guess is that it's a scrap yard.
It's odd that it's cheaper to scrap a boat and build a new one, than to fix it up though. Guess structurally there's just too much work to do on those ships.
There's a lot of reasons why they get scrapped, and it's not always age. That's probably the most common, but they also get broken up when markets and economies change. Ships cost roughly 10% of hull value per year just to maintain. If you don't need one, and the markets are such that you can't find a buyer for it, you're better off breaking it up and letting someone make the steel into something useful.