Why not just refloat the ship? Floats and weights in the right places, together with the tide going up and down ought to be able to turn it over. It wouldn't be too expensive either because all work could be done above the waterline at low tide.

When it's the right way up, industrial diesel powered pumps could pump it out enough to float and reuse.

Perhaps there were political reasons? (ie. if the ship is refloated, the original owner would own it, whereas if its scrapped the port authority can take the collected 'litter' as payment for the work)