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

Salvage

Fire on Subsea Viking

An exclusion zone was set up around Hatston Pier earlier as the offshore support vessel Subsea Viking which was tied up alongside at the time caught fire at Hatson

Boxships Collide in Port Klang, Malaysia

The container ships MOL Empire and Northern Democrat collided at around 1430 LT Aug 1 in Westport harbor at Port Klang, Malaysia, reportedly while mooring.   Container or containers fell overboard,

Five Rescued from Yatch in Solent, UK

Five people have been rescued from the Solent after their small leisure boat suffered engine failure and began taking on water.   The occupants of the boat made

News

Pentalver Opens London Container Facility

U.K. inland container service operator Pentalver opened a new five-acre site at the U.K.’s newest deep sea container port, DP World London Gateway, the London Port Authority announced.

USCG’s New Cutter Pulls into Boston

The U.S. Coast Guard’s (USCG) latest 418-foot National Security Cutter James (WSML 754) entered Boston Harbor August 3 ahead of her commissioning scheduled for August 8.

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

Vessels

USCG’s New Cutter Pulls into Boston

The U.S. Coast Guard’s (USCG) latest 418-foot National Security Cutter James (WSML 754) entered Boston Harbor August 3 ahead of her commissioning scheduled for August 8.

Norwegian Epic to Sail from Port Canaveral

Port Canaveral will homeport Norwegian Cruise Line’s (NCL) largest ship and currently the third largest in the world—the Norwegian Epic—starting in November 2016,

GE Gas Turbines to Power US Navy’s New Destroyers

The U.S. Navy’s new DDG 121 and DDG 122 Arleigh Burke-class destroyers will be powered by eight LM2500 marine gas turbines supplied by GE Marine, who also received

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1538 sec (7 req/sec)