Sunken Treasure Recovery Operation Mounted by Odyssey

Friday, June 01, 2012
Photo courtesy of Swire Seabed

Odyssey Marine Exploration announce 'M/V Seabed Worke'r has sailed on mission to recover the anticipated silver cargoes from the SS Gairsoppa and SS Mantola shipwrecks

Historical records indicate the Gairsoppa was carrying up to seven million ounces of silver and the Mantola was carrying approximately 600,000 ounces of silver when each sank. Odyssey discovered both shipwrecks in Q3 2011 and conducted a series of reconnaissance dives to both sites in March and April 2012.

Both the Gairsoppa and Mantola projects are being conducted under contract with the UK Department for Transport. Under these contracts, which follow standard commercial practices, Odyssey will retain 80% of the net salved value of the cargoes after recovery of expenses. Both merchant ships were torpedoed by German submarines, the Gairsoppa during WWII and the Mantola during WWI. At that time, the UK government insured privately owned cargo under their War Risk Insurance program.

Odyssey has chartered Swire Seabed's 291-foot Seabed Worker for this recovery operation. The Seabed Worker is equipped with advanced deep-ocean capabilities, including the specialized tools necessary to salvage modern steel wrecks, such as redundant deep ROV systems and a 100-ton active heave compensated crane. Odyssey has also acquired advanced specialty tooling for the project that will provide exceptional flexibility in accessing the bullion.

"Modern steel wrecks such as Gairsoppa and Mantola require an advanced set of tools capable of surgically cutting through steel decks and removing bullion. After stringent review of available capabilities, we believe Seabed Worker is perfect for these projects. The ship has the ability to carry up to 300 tons of cargo below her decks. With the potential of over 240 tons of silver that may be brought up from both sites, we're confident that we've brought together the right team, the tools and transport features necessary to make this a secure and successful operation," said Mark Gordon, Odyssey COO & President.


 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Syncrude Uncertain about Plant Fire Affecting Production

The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze,

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

Vessels

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

World’s Quickest Trip Through Northern Sea Route

Chinese sailor Guo Chuan intends to make it world’s quickest Northern Sea Route trip from Murmansk to the Bering Strait in 14 days without engine power. His

USCG Reopens Key West Ports After Erika Dissipates

Effective 9:30 a.m., Saturday, Capt. Jeffrey Janszen, Coast Guard Captain of the Port, reopened Key West, Florida, ports, terminals and facilities due to Tropical Storm Erika dissipating.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4276 sec (2 req/sec)