Odyssey Marine Awarded Contract for WWII Wreck

[Thagarr]

[imgleft]http://lh6.ggpht.com/_cQOyQjTP3GY/SzdzZcJpthI/AAAAAAAAAIU/lTv6nE8qBxo/pa-logo.gif[/imgleft]This is not the kind of story I usually post on the main page, but Odyssey Marine Exploration is not your typical salvage company! Last year they discovered the wreck of the HMS Victory, not the one made famous by Admiral Nelson at the Battle of Trafalgar, the other one! In 1990-91 they salvaged artifacts from a wreck that is likely the remains of the Nuestra Senora de la Consolacion, one of the Spanish vessels sailing with the 1622 Tierra Firme treasure fleet bound for Spain loaded with the wealth of the New World. They are also featured on The Discovery Channel television series "Treasure Quest," the second season of which is currently in production.

UK Government Awards Exclusive Salvage Contract to Odyssey Marine Exploration for Recovery of SS Gairsoppa Silver Cargo


January 25, 2010 - Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), a pioneer in the field of deep-ocean shipwreck exploration, has been awarded the exclusive salvage contract for the cargo of the SS Gairsoppa by the United Kingdom (UK) Government Department for Transport. The contract was awarded after a competitive bid process and is for two (2) years, which commences immediately.

The SS Gairsoppa was a British cargo steamer enlisted in the service of the United Kingdom for the Ministry of War Transport during World War II. It was torpedoed by a German U-Boat in February 1941 in the North Atlantic while reportedly carrying a significant cargo of silver.

Odyssey will assume the risk, expense, and responsibility for the search, cargo recovery, documentation, and marketing of the cargo. If the salvage is successful, Odyssey will be compensated with a salvage award which consists of a majority of the net value of the recovered cargo after deduction of expenses of search and salvage.

"We're looking forward to working with the UK Government to recover the silver carried aboard the SS Gairsoppa and return it to the stream of commerce. The shipwreck is lying in the deep ocean well within the range of current search and recovery capabilities. We have good location information which suggests a search area that can be completed in approximately 90 days, and we are scheduling this project for summer 2010," commented Greg Stemm, Odyssey's CEO.

"We're pleased to expand our excellent working relationship with the UK Government with this contract, which will provide a significant economic benefit to the UK upon a successful salvage of his shipwreck," Stemm continued. "This project aligns with our strategy to focus on partnership projects with several governments that provide straightforward legal ownership arrangements."

You can read the rest of the story and find out more about Odyssey Marine Exploration and the wrecks they have discovered HERE!

 

[rupertlittlebear]

Ok,

Why does an "abandoned ship" in (presumably) international waters need a government contract to salvage?

Especially when the vessel in question is not a warship.

 

[Thagarr]

THIS is a big part of the reason. More detailed info HERE.

 

[rupertlittlebear]

THIS is a big part of the reason. More detailed info HERE.

On December 22, 2009, a U.S. district judge ruled that Odyssey Marine Exploration should return to Spain the treasure, until the company's appeal is cleared. "The ineffable truth of this case is that the Mercedes is a naval vessel of Spain and that the wreck of this naval vessel, the vessel's cargo, and any human remains are the natural and legal patrimony of Spain," said the judge in his order.

um

err

then there either

1 ) ain't no grounds for the legal permission being needed seing as this ain't no warship.

or

2 ) ain't no such thing as salvage in international waters as ALL vessels belong to some country.

and we know that #2 ain't gonna fly in world court - just too many centurys of precidence against.

 

[Thagarr]

The SS Gairsoppa was a British cargo steamer enlisted in the service of the United Kingdom for the Ministry of War Transport during World War II.

At the time she was sunk, she was under the command of the British war department in convoy SL-64. Also according to Wikipedia:

Ordered by the Ministry of War Transport as War Roebuck SS from Palmers Shipbuilding and Iron Company of Newcastle-Upon-Tyne, she was taken over during construction by the British-India Steam Navigation Company, and completed as SS Gairsoppa

I am no lawyer, but I am a bit of an amateur historian. While the 30,000 Seamen from the British Merchant Navy who lost their lives between 1939-1945 didn't wear the official British naval uniform, they were just as much front line soldiers as those who did.