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• $160,000 Settlement over Artifacts from Shipwreck

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  Bernd Laeschke

  (not a XING member)

  $160,000 Settlement over Artifacts from Shipwreck

  Tampa (Global Adventures): Odyssey Marine Exploration, Inc. (OME) has accepted a salvage award in the amount of $160,000 from the British Government. In return, the Tampa, Florida based company has turned over two Brass Cannons it raised last year from the legendary HMS Victory that sank in the British Channel off Cornwell in 1744. OEM donated $75,000 of the salvage award to the National Museum of the Royal Navy, according to CEO Greg Stemm. The company could still profit from treasure and artifacts from the wreck that rests in 330 feet of water.
  
  OME is engaged in the salvage of deep-water shipwrecks. The company salvaged the US Civil War era shipwreck of the SS Republic in 2003 and recovered over 50,000 coins and 14,000 artifacts from the site nearly 1,700 feet deep. OME remains locked in a legal battle with Spain over an estimated $500 million in silver coins the company raised from a wreck just off the coast of Gibraltar.
  
  This story was first published by Global Adventures, LLC. You can find the full article here:
  
  http://www.global-adventures.us/2009/09/21/settlement-artifa...
  This post was modified on 21 Sep 2009 at 10:16 pm.
  • 21 Sep 2009, 10:16 pm
  Bernd Laeschke wrote: > Tampa (Global Adventures): Odyssey Marine Exploration, Inc. (OME) has > accepted a salvage award in the amount of $160,000 from the British > Government. In return, the Tampa, Florida based company has turned > over two Brass Cannons it raised last year from the legendary HMS > Victory that sank in the British Channel off Cornwell in 1744. OEM > donated $75,000 of the salvage award to the National Museum of the > Royal Navy, according to CEO Greg Stemm. The company could still > profit from treasure and artifacts from the wreck that rests in 330 > feet of water. > > OME is engaged in the salvage of deep-water shipwrecks. The company > salvaged the US Civil War era shipwreck of the SS Republic in 2003 > and recovered over 50,000 coins and 14,000 artifacts from the site > nearly 1,700 feet deep. OME remains locked in a legal battle with > Spain over an estimated $500 million in silver coins the company > raised from a wreck just off the coast of Gibraltar. > > This story was first published by Global Adventures, LLC. You can > find the full article here: > > http://www.global-adventures.us/2009/09/21/settlement-artifacts-shipwreck/