Isn't there a law at sea where if you find an abandoned ship, it is basically yours? Perhaps this law doesn't apply in Egyptian national waters?
If he is the legal guardian of the ship, why wouldn't he be able to just sell it for profit and move on? Was it just that there would be no buyer for it, even to scrap it? Or could there have been fines/liens on that ship such that no one would want to buy it? If that is the case it seems odd that he couldn't himself abandon the ship to the lien holders.