Earth Dragon Secures Research on Four WW II Shipwrecks

MarineLink.com
Thursday, April 11, 2013

Earth Dragon Resources, Inc. announced that it secured the research on four World War II shipwrecks and is moving to the planning phase of the project. This phase will include additional research on the four wrecks and strategic planning for surveying the wrecks.
 


These four shipwrecks were all private merchant vessels lost to enemy action in World War II. The research indicates their combined cargos include over 5,000 metric tonnes of copper, 20 metric tonnes of platinum and 220,000 Troy ounces of gold bars. Earth Dragon will validate the cargos with additional research efforts. At this stage of the project, there is no way of confirming that the shipwrecked cargos were intact at the time of the demise of the ships or that they have been undisturbed since that time. The Company will be referring to this cluster of wrecks as the "Carribean 4 Project."


There are many viable salvage targets for the company to target. The selection of these wrecks was done on the basis of several important factors:

  • High value, manifested cargo
  • Close proximity of the wrecks to each other
  • Accessible working depths
  • Favorable, year round working condition
  • Budget risk/return factors

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

News

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

BigLift Shipping Expands Heavy Lift Fleet

BigLift Shipping said it has ordered a third Happy S-type vessel. The new build vessel, to be named Happy Sun, will be identical to BigLift’s Happy Star and will

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Vessels

BigLift Shipping Expands Heavy Lift Fleet

BigLift Shipping said it has ordered a third Happy S-type vessel. The new build vessel, to be named Happy Sun, will be identical to BigLift’s Happy Star and will

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

New Era of Global Trade with Expanded Panama Canal

The Expanded Panama Canal is now officially open for business.   During the official inauguration ceremony, Panamanian President Juan Carlos Varela and Panama Canal Administrator and CEO Jorge L.

History

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

Essar's Terminal at Kandla Port crosses 100 mi tonne throughput

The marine terminal of Vadinar Oil Terminal Ltd (VOTL), which is part of Essar Ports Ltd, has been the best performing terminal in the Kandla Port Trust (KPT) for two consecutive years.

Panama Canal Officially Opens $5.25Bln Expansion

A 984-foot Chinese container ship was greeted with fireworks and cheers from a crowd that had gathered, when it made an inaugural passage through the newly expanded Panama Canal on Sunday,

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair
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: 0.1039 sec (10 req/sec)