After 20 years as an abandoned eyesore, including sinking due to the weight of uncleared snow, and being salvaged at taxpayers' expense, the "Cormorant" was towed out of Bridgewater, N.S., by "Atlantic Elm" and towed to Sheet Harbour, N.S., to be scrapped.

The vessel is still there today (Dec 2019): https://www.airdrietoday.com/national-news/local-mp-applauds-as-coast-guard-works-to-secure-derelict-ship-from-ns-river-1950380

As of 2015-03-22, "Cormorant", weighed down by the weight of accumulated ice and snow on her upperworks, listed 40 degrees, and is believed to have down-flooded, and to be resting on the river bed at Bridgewater, Nova Scotia.