India seems to be buying a fair few ships that still have a decent life span left in them (we don't KNOW, do we- they might be wrecks under the nice paint).
Even the Pride of Telemark went for a price over 50% higher than you'd expect from a scrap hulk. There has been a decline in the worldwide price of scrap steel over the past year- although it went back up after the quake in Japan.
Odd.