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

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

Salvage

How Difficult is it to Obtain a Jones Act Waiver?

The American Salvage Association’s Jon Waldron provides the ultimate cabotage primer. There always seems to be constant chatter about waiving the Jones Act. In reality,

Italy Region, Island Seek $274m in Concordia Damages

Officials for Italy's Tuscany region and the island of Giglio said on Monday they would seek a total of 220 million euros ($274 million) in damages from Costa Cruises,

News

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Vessels

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

World’s Largest Containership First Tested at MARIN

MARIN was delighted to take part in a truly historic milestone in the industry when Daewoo Shipbuilding and Marine Engineering (DSME) asked MARIN to investigate

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,

Editorial: 75, 150 ... What’s in a Number?

It is not often that I break out the tux for my editorial picture, but this special edition dictates. I know that I should argue that all of our editions are special,

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,

Subsea Salvage

Reach Bags Technip ROV Work

Reach Subsea has secured a deal worth up to $10.3 million with Technip to provide remote-operated vehicle services on a newbuild subsea construction vessel to be supplied by Eidesvik Offshore.

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,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Ship Repair Sonar
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: 0.1338 sec (7 req/sec)