Spain vs Odyssey, continued

On Tuesday, patrol boats from Spain's maritime police intercepted the 76m Odyssey Explorer, owned by underwater salvage firm Odyssey Marine International, three miles off the coast of Gibraltar. It was ordered to the Spanish port of Algeciras for inspection.

Spain's Guardia Civil has been keeping a close eye on the company's vessel since a Spanish judge ordered that it be detained and searched if it left port in Gibraltar.

The company says its recovery vessel has been effectively blockaded since the ruling in June. Spain believes it could provide clues to the identity and location of the wreck that yielded half-a-million colonial era silver and gold coins.

It suspects that a Spanish galleon is being secretly plundered - or that the wreck lies in Spanish waters.

From the BBC, which really needs to get its exchange rates updated:

The haul, which has an estimated value of $500m (£350m), is now at a secret location in Florida, where Odyssey is based.

Oh, how I wish I could buy pounds at $500 for £350! That's under $1.43 -- spot rate has been floating around $2.03.

Posted by David on October 16, 2007 5:39 PM