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the ship graveyard in the game could be any of a number of real life locations throughout Indonesia, the Phillipines and the coast of India. In reality though they are MUCH larger, it doesn't pay to ship a small fishing boat to Bangladesh, the ships sent to breakers are huge oceanic cargoliners and tankers, oftencargo ships of older types that are no longer needed, are starting to cost too much to maintain due to age, have been damaged and would cost too much to repair, or have been disposed of for other reasons.
You would do it for less than 5 $ a day?
Keep in mind that's in Bangladesh, where the average rent is 95% lower than in the US and the cost of living is 65% lower than the US average. The average yearly income in Bangladesh is equivalent to only US $1,400.
$5 a day isn't bad if you only have to pay $70 a month for rent and utilities.