Why is this done though? Why in the USA are ships run far past their usable lifespan?
Is it because the USCG and ABS keep passing the POS on inspections? Is it because it is not possible to replace the ship with a newer one?
Do other first-world countries have this problem of hunks of junks continuing to sail in the deep sea fleets?
I suppose that this has something to do with the special circumstances which prevail in the US maritime system due to which free competition is prevented. In a real world situation fuel guzzling turbine dinosaur ships like the El Faro would have been replaced already long ago as they soon became uneconomic due to sharply increasing fuel prices and therefore were unable to compete in the market place. In the real world the extra costs generated by these ships cannot be added to consumer prices as the market will not accept this, but can in the case of Puerto Rico and Hawaii. I suppose that for practical reasons the present system is unsustainable in the long run and that something got to give in the end.