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 Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Maritime Broadband Opens Office in Greece

Maritime Broadband has expanded its worldwide footprint by opening an office, Maritime Broadband Hellas, in Athens, Greece. The new office addresses the growing

Renewable Energy: Schottel Tidal Turbines Ready For Use

In the last months Schottel  successfully tested its hydrokinetic turbines in Strangford Lough, Northern Ireland. The full-scale tests included 260 operating hours under realistic conditions.

B COOL Acquires MEMAC

With the acquisition of MEMAC, B COOL A/S now offers customers one entry to multiple maritime systems – both refrigeration solutions and monitoring of the engine

News

Weak Oil Threatens US Export of LNG

Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have

Long Beach Cargo Continues to Climb

Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007,

WWII Wrecks Found off North Carolina

German U-boat 576 and freighter Bluefields found within 240 yards A team of researchers led by NOAA’s Office of National Marine Sanctuaries have discovered

Vessels

Catamaran Passenger Ferries Delivered in Angola

Incat Crowther announced the delivery a pair of 30m catamaran passenger ferries, Macôco and Panguila, to Instituto Marítimo e Portuário de Angola. The vessels, built by Astilleros Armon in Spain,

TRIYARDS Buys into Aluminium Shipbuilding Expertise

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added new capabilities, products

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

History

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

WWII Wrecks Found off North Carolina

German U-boat 576 and freighter Bluefields found within 240 yards A team of researchers led by NOAA’s Office of National Marine Sanctuaries have discovered

Key to Somalia's Recovery

Piracy, terrorism and criminal activities originating in Somalia can only be addressed by creating a climate of security, engagement and empowerment that will encourage home grown businesses,

Subsea Salvage

WWII Wrecks Found off North Carolina

German U-boat 576 and freighter Bluefields found within 240 yards A team of researchers led by NOAA’s Office of National Marine Sanctuaries have discovered

Hydroid Wins Gold at MassEcon Impact Awards

Hydroid, Inc., a subsidiary of Kongsberg Maritime and a leading manufacturer of autonomous underwater vehicles (AUVs), today announced that it has been named

Woodside's Farm in Agreement for Cameroon

Woodside has finalised an agreement with Noble Energy and Glencore to farm in to the Tilapia Production Sharing Contract (PSC) off the coast of Cameroon. The

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1510 sec (7 req/sec)