The wreck was located after Marex conducted a side scan sonar search of the suspected target area. A cesium magnetometer search followed by diver inspection was then used to confirm the target.

Marex Global was founded in 1983 as a Maritime Exploration Company. Marex Global’s principle purpose is the research, location and recovery of shipwrecks of archeological, historical and intrinsic value.

Mr. Humphreys said the company’s dive team had conducted on site dives and photographic surveys. The wreck is scattered over about 2,000 feet of sand, 100 feet deep in international waters, close to the Gulf Stream.

Tim Hudson, president of Marex, said the depth of the water was perfect for this type of 
salvage operation. “We have assembled a strong team to complete the recovery phase. Our team will be on site to begin actual salvage as weather permits,” he said.

The team has codenamed the wreck the SS Caribe. Mr. Humphreys said the real name of the ship would be revealed once it had 
been salvaged.

Wooden steamship
“It is a 19th century steamship with a wooden hull, much like the SS Central America. It has on board American pre-Civil War gold coins, some of which have already been recovered,” said Mr. Humphreys.

The SS Central America was a United States Mail steamship that sank in deep water off the coast of the Carolinas during a hurricane in 1857. It held tons of gold ingots, coins and nuggets from the western gold fields and was nicknamed the “Ship of Gold”. It was found in 1986 and the treasure was recovered.

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