The E-Sylum:  Volume 10, Number 42, October 21, 2007, Article 21

SPAIN BOARDS THE ODYSESSY EXPLORER

Spain has turned up the heat on the Odyssey group, which
it suspects may have recovered rare coins from a shipwreck
that country may hold claim to.  The Guardian reported
Wednesday that "A Spanish warship forced a US treasure
hunting vessel back into port at gunpoint yesterday as
it tried to leave Gibraltar in the latest episode in a
battle over what is claimed to be the world's largest
recovery of treasure from the sea.

"The Odyssey Explorer, a 250ft salvage vessel, was trying
to leave Gibraltar, where it had been effectively blockaded
for three months after Spain claimed a share of millions of
dollars worth of gold and silver coins it had recovered.
After setting sail, it was approached by a Spanish navy
gunboat and civil guard patrol ship once it passed the
three-mile "buffer zone" that surrounds Gibraltar and forced
to turn round and head for the Spanish port of Algeciras.

"Following a stand-off, the boat was boarded and searched
for information that Spanish authorities hope could lead
to the site of the treasure.

"The captain of the Odyssey Explorer, Sterling Vorus, was
arrested last night for disobeying orders and was facing
the night in jail.

"The row centres around Odyssey Marine Exploration, run
by Greg Stemm, the world's leading underwater treasure
hunter. His company trawls the ocean's floors, looking
for sunken treasure, which it then sells to collectors.
Founded in 1994, its first major success came with the
recovery of $75m worth of booty from the SS Republic,
which sank off the coast of Florida in 1865. But now it
has come up against the Spanish government in a diplomatic
tussle that is costing the company millions of dollars
in lost revenue.

"In May Odyssey spirited away what it subsequently claimed
were $500m worth of silver and gold coins that it found in
international waters in the Atlantic Ocean. The coins were
flown out of Gibraltar airport and are now sitting in an
undisclosed location in Tampa, Florida, where Odyssey is
based. The Spanish government believes they were transported
with the complicity of the British and that the coins may
belong to Spain. Odyssey and the governments of Britain and
Gibraltar deny any foul play, saying that Odyssey flew the
treasure out from the airport in full compliance with customs
requirements.

"Spain has filed a suit in Tampa against Odyssey to clarify
the details of its discovery, to prevent future recovery
efforts and to claim back what has already been discovered.
But the company refuses to reveal specific information about
the treasure, admitting only that it was found around 180
nautical miles west of Gibraltar. Mr Stemm argues that as
'custodians' of the site - which Odyssey has named the Black
Swan - they have a responsibility to protect it from other
interested parties, including potential treasure hunters."

"The battle is unlikely to be resolved on the high seas, but
in the Tampa courtroom. Odyssey describes its work as 'commercial
archaeology' and says that, as the treasure was found in
international waters, it should keep 90% of the proceeds.
Spain's lawyer, James Goold, counters that 'Spain has not
abandoned its sunken property and it does not permit
unauthorised salvage'. "

To read the complete article, see: Full Story

  Wayne Homren, Editor

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