Odyssey Marine Article...
- Thread starter jeff k
- Start date
VOC
Sr. Member
Unfortunately the JNAPC is not a credible organisation in it self, it is full of pompous old duffers from groups most of who have no real track record of decent or sound underwater archaeology, but who want to feel that they are at the centre of underwater archaeology in the UK.
No one over here really takes them seriously, so most of what they say or do, falls on death ears.
Many on their committee are not nice people (especially their chairman who mainly only uses it for his own self promotion), and many of the others are more interested with their own self image than they are about shipwrecks or history.
They try and use the old boys network to connive and scheme against anyone who is not in their club, irrespective of what they may do for furthering our knowledge.
Sooner these old school type duffers get pensioned off the better.
No one over here really takes them seriously, so most of what they say or do, falls on death ears.
Many on their committee are not nice people (especially their chairman who mainly only uses it for his own self promotion), and many of the others are more interested with their own self image than they are about shipwrecks or history.
They try and use the old boys network to connive and scheme against anyone who is not in their club, irrespective of what they may do for furthering our knowledge.
Sooner these old school type duffers get pensioned off the better.
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MORE AND BEYOND OSSY
Bronze Member
VOC
Sr. Member
Hi Ossy
Interesting article from February.
Some relevant info, but as we know you can always buy safe or boring stock if it’s just about making money, but buying stock in OME is about being part of the adventure with a chance of making money.
Betting on a horse or going to a casino would not be a lot of fun if you knew that you were going to win every time.
PS: Well done with the European Cup, (untouchable and far from being boring as they predicted). Did not think we played any better this time, even though the press said we did
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MORE AND BEYOND OSSY
Bronze Member
Hi Ossy
Interesting article from February.
Some relevant info, but as we know you can always buy safe or boring stock if it’s just about making money, but buying stock in OME is about being part of the adventure with a chance of making money.
Betting on a horse or going to a casino would not be a lot of fun if you knew that you were going to win every time.
PS: Well done with the European Cup, (untouchable and far from being boring as they predicted). Did not think we played any better this time, even though the press said we did
Hi VOC. Yes there is a thrill in gambling and having shares in OME, Just as long as your life saving are not riding on it.
England played very well, I was hoping Spain and England would have played each other, Instead we played the French and sent them home. That was enjoyable
We could meet in the Olympics, you never know ? Spain has a new world force TIKI TAKA
Cheers, Ossy
ah yes ,,the stock questions...
SO why has the old haunts of Greg STemm ( ie Seahawk..SHWK.PK) , been changed from the pink sheet 'standings' to
(SHWK), even after not being active for 5+ years ..
Any news there Jeff K. .. ??
SHWK: Summary for SEAHAWK DEEP OCEAN T- Yahoo! Finance
SO why has the old haunts of Greg STemm ( ie Seahawk..SHWK.PK) , been changed from the pink sheet 'standings' to
(SHWK), even after not being active for 5+ years ..
Any news there Jeff K. .. ??
SHWK: Summary for SEAHAWK DEEP OCEAN T- Yahoo! Finance
- Thread starter
- #1,948
N.Y. Times Article...
http://www.nytimes.com/2012/07/10/s...s-lure-seabed-miners.html?_r=1&pagewanted=all
http://www.nytimes.com/2012/07/10/s...s-lure-seabed-miners.html?_r=1&pagewanted=all
(post is not at all off topic from the HMS Victory)
Very interesting...
After reading this article, one would think it is about Nautilus Minerals...
Nautilus Minerals is a well establish undersea mining operation...
How many times do you see "Neptune" in the article?
Neptune is a company that a few of the people from Odyssey started, and partners with Odyssey...
Company names that sound like the names of well-established firms
It would appear that the NYT reporter is confused...
Very interesting...
After reading this article, one would think it is about Nautilus Minerals...
Nautilus Minerals is a well establish undersea mining operation...
How many times do you see "Neptune" in the article?
Neptune is a company that a few of the people from Odyssey started, and partners with Odyssey...
Company names that sound like the names of well-established firms
It would appear that the NYT reporter is confused...
VOC
Sr. Member
The only one who appears confused is yourself AUVnav
This thread is not just about HMS Victory it is about all things OME (that’s why there is 98 pages).
The article listed is about Deep Water Mining and features two completely separate operations Nautilus Minerals and OME, and I don’t think the NYT reporter is at all confused.
I do not think anyone but yourself is trying to link the Nautilus operation to that of Neptune.
You really must learn to read and absorb more carefully if you want to be a shipwreck researcher. (try reading it again !)
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- Thread starter
- #1,951
Says who? They haven't started operations yet. Neptune may even start mining before them.
MORE AND BEYOND OSSY
Bronze Member
The Sinking of the Mercedes forced Spain into war, was it a mistake by England.
Spain would end up frighting Napoleon to keep the french from taking over Spain.
Napoleon?s Spanish Problem - (The Battle of Bailén)
Ossy
Spain would end up frighting Napoleon to keep the french from taking over Spain.
Napoleon?s Spanish Problem - (The Battle of Bailén)
Ossy
VOC,
So you are saying that OME is an undersea mining company, not just a hired survey vessel?
You should look into this, while most of the officers of OME have started a DIFFERENT company, Neptune for undersea mining, and have hired OME for survey work, NEPTUNE is NOT Odyssey.
Even your pal Kramer knows its Neptune. (good luck with that Keene 4 inch dredge, then again, it worked on the Mercedes..sortof)
now do some research, and perhaps, well, even you may understand..
Neptune has real vessels supplied by Fugro, which the vessels supplied by OME would fit in the moon pool..
Hows that salvage of the Garisoppa and Mantola working for OME?...
oh thats right, OME had to hire someone else to actually do the recovery...
So you are saying that OME is an undersea mining company, not just a hired survey vessel?
You should look into this, while most of the officers of OME have started a DIFFERENT company, Neptune for undersea mining, and have hired OME for survey work, NEPTUNE is NOT Odyssey.
Even your pal Kramer knows its Neptune. (good luck with that Keene 4 inch dredge, then again, it worked on the Mercedes..sortof)
now do some research, and perhaps, well, even you may understand..
Neptune has real vessels supplied by Fugro, which the vessels supplied by OME would fit in the moon pool..
Hows that salvage of the Garisoppa and Mantola working for OME?...
oh thats right, OME had to hire someone else to actually do the recovery...
VOC
Sr. Member
AUVnav
Like I said you really must learn how to read documents properly (I would hate to think what theories you would come up with if you were let lose in an archive, let alone knowing how you get on with your survey kit instruction manuals etc,)
I have never said anywhere that OME is a Undersea Mining company (although they could be for all we know), what I actually said in my post above was that the "NYT article” was about “Deep Water Mining".
The article also does not say anywhere that OME are a "Unsersea Mining company" only that:
“Odyssey Marine Exploration, which recently expanded from shipwreck recovery into deep prospecting" etc,
“Prospecting” is different from “mining” (one is the looking for and the other is the extraction).
I am also fully aware of the setup of Neptune by an ex OME director (John Morris) and their contracts with OME for prospecting services that OME also does for others.
With regards to the Garisoppa and Mantola it has always been in OME’s business plan to charter in a “vessel of opportunity” to undertake the recovery operation, as no sensible recovery organisation hold vessels of this size or type just for the limited periods required.
Vessels like the “Seabed Worker” need good utilisation to pay the bills, and no cargo recovery operation would have enough cargos to recover to keep a vessel like this in-house.
When you say “Neptune” has real vessels supplied by Fugro,which the vessels supplied by OME would fit in the moon pool..” , I presume you are actually talking about "Nautilus" (not Neptune) and their previous charter of the MV Fugro Solstice ?
You do need to concentrate more, how can we take anything you say seriously when you make such glaring mistakes in what you read and what you say ?
Like I said you really must learn how to read documents properly (I would hate to think what theories you would come up with if you were let lose in an archive, let alone knowing how you get on with your survey kit instruction manuals etc,)
I have never said anywhere that OME is a Undersea Mining company (although they could be for all we know), what I actually said in my post above was that the "NYT article” was about “Deep Water Mining".
The article also does not say anywhere that OME are a "Unsersea Mining company" only that:
“Odyssey Marine Exploration, which recently expanded from shipwreck recovery into deep prospecting" etc,
“Prospecting” is different from “mining” (one is the looking for and the other is the extraction).
I am also fully aware of the setup of Neptune by an ex OME director (John Morris) and their contracts with OME for prospecting services that OME also does for others.
With regards to the Garisoppa and Mantola it has always been in OME’s business plan to charter in a “vessel of opportunity” to undertake the recovery operation, as no sensible recovery organisation hold vessels of this size or type just for the limited periods required.
Vessels like the “Seabed Worker” need good utilisation to pay the bills, and no cargo recovery operation would have enough cargos to recover to keep a vessel like this in-house.
When you say “Neptune” has real vessels supplied by Fugro,which the vessels supplied by OME would fit in the moon pool..” , I presume you are actually talking about "Nautilus" (not Neptune) and their previous charter of the MV Fugro Solstice ?
You do need to concentrate more, how can we take anything you say seriously when you make such glaring mistakes in what you read and what you say ?
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- Thread starter
- #1,956
[h=1]WWII Shipwreck Yields $38 Million of Silver From Atlantic...
WWII Shipwreck Yields $38 Million of Silver From Atlantic - Bloomberg[/h]
WWII Shipwreck Yields $38 Million of Silver From Atlantic - Bloomberg[/h]
VOC
Sr. Member
Excelent, and more to follow !
At this rate they might need to recruit AUVnav
At this rate they might need to recruit AUVnav
Last edited:
VOC
Sr. Member
Shame, I bet they really need your skills being so busy.
Have you managed to sort out your Neptune/Nautilus misunderstandings discussed above ?
- Thread starter
- #1,960
Tons of Silver Hauled Up After Decades Undersea...
Forty-eight tons of silver bullion that spent more than 70 years at the bottom of the North Atlantic have been hauled to the surface and returned to its rightful owner, the British government, according to the company that recovered it. And much more will be on its way soon.
The silver was recovered from the Gairsoppa, which was carrying the riches to England from India in 1941 when a Nazi torpedo struck. The ship went down about 300 miles southwest of Ireland in waters 2.9 miles deep — lower than the resting place of the Titanic.
On Wednesday, a maritime recovery company, Odyssey Marine Exploration of Tampa, Fla., said it had succeeded in removing about 43 percent of the insured silver aboard the rusting hulk and 20 percent of the total silver that its research indicates might be on board. The company said it planned to return quickly to the site for another round of recovery.
Greg Stemm, the chief executive of Odyssey, said it was the heaviest and deepest cargo of precious metal ever lifted from a shipwreck. The haul, he said, demonstrates that marine technologies have improved to the point that no sunken ship is too deep and no cargo too large for retrieval.
“People have been worried about the technology,” Mr. Stemm said in an interview. “This shows that we have it under control. We can pick up large amounts of silver.”
Mike Penning, a minister at the British Department for Transport (a successor to the Ministry of War Transport), which hired Odyssey, said in a statement that he welcomed the company’s “hard work in the salvage operation” and its successful “recovery of the valuable cargo.”
Riches found in the deep sea often lie undisturbed because lifting them is too difficult. In 1995, treasure hunters located a lost submarine carrying two tons of gold. It remains on the bottom.
But Odyssey is under contract to the British government, which took possession of the recovered silver on Wednesday. A total of 1,203 silver bars were loaded onto three large trucks at Bristol, England, and taken to an undisclosed location for secure storage and processing.
Mr. Stemm said the old bars exhibited none of the shimmering patina usually associated with fresh silver. “It’s been underwater so long, it could be mistaken for iron,” he said.
Odyssey invested its own money in finding the ship and will split the profits, the company getting 80 percent of the silver’s value and the British government 20 percent. The company — which is listed on the Nasdaq exchange and announced the silver’s recovery before trading began on Wednesday — disclosed the shipwreck’s discovery last fall.
At Wednesday’s market value, the 1.4 million troy ounces of silver (48 tons) recovered so far would fetch about $38 million.
Odyssey says the Gairsoppa held up to 240 tons of silver, which could bring in as much as $190 million at today’s rates.
The technologies now speeding such endeavors include new generations of tethered robots, lights and claws that can withstand the crushing pressures of the deep, as well as powerful computers that coordinate the distant but delicate action.
Mr. Stemm said that one of the less conspicuous advances centered on the composition of the long cables lowered from the recovery ship to the assembly point on the bottom next to a rusting shipwreck. Long steel cables, he noted, can break under their own immense weight. His company now uses a kind of plastic cable called Dyneema that is as strong as steel but weightless in seawater.
“It’s like working in outer space,” he said of viewing the undersea operations from the recovery ship. “It’s very neat.”
The Gairsoppa, a vessel of the British Indian Steam Navigation Company, was named for a spectacular waterfall near India’s western coast. In December 1940, it sailed from Calcutta, now called Kolkata, laden with tea, iron and tons of silver. In Freetown, Sierra Leone, the ship joined a military convoy headed to the British Isles and the contested waters of the North Atlantic.
The steamship, 412 feet long, had 83 crewmen and 2 gunners on board, according to Lloyd’s of London, which compiles information about cargos lost in war.
High winds and a heavy swell forced the Gairsoppa to slow. As the weather deteriorated, the captain judged that the wallowing ship had insufficient coal to make it to Liverpool and broke from the convoy for Galway, in western Ireland.
On Feb. 17, 1941, a German U-boat attacked. A single torpedo ripped through the Gairsoppa’s hull and exploded, causing the forward mast to topple and the antenna to snap, cutting off the ship from the world. The U-boat opened fire as the Gairsoppa sank.
All 85 men died save one — the second officer, who survived 13 days in a lifeboat.
In recent years, the famous cargo began to beckon as technological strides made it easier to find lost vessels. At least one company tried, and failed, to find the shipwreck.
In early 2010, Odyssey won an exclusive contract from Britain’s Department for Transport to salvage the silver. Last summer, it hired a Russian ship and performed a preliminary survey in international waters, finding what it considered solid clues.
Later, the company took its main ship, the Odyssey Explorer, to investigate the area. Its tethered robot took three and a half hours to descend 2.9 miles through dark waters to the muddy seabed. Then came a eureka moment, when the robot found a gaping torpedo hole.
The project’s success so far has elated Odyssey about the possibilities for other shipwrecks.
“There are billions of dollars worth of cargos that have been considered unrecoverable,” Mr. Stemm said. “This opens up the entire ocean floor.”
http://tinyurl.com/87l83pp
Forty-eight tons of silver bullion that spent more than 70 years at the bottom of the North Atlantic have been hauled to the surface and returned to its rightful owner, the British government, according to the company that recovered it. And much more will be on its way soon.
The silver was recovered from the Gairsoppa, which was carrying the riches to England from India in 1941 when a Nazi torpedo struck. The ship went down about 300 miles southwest of Ireland in waters 2.9 miles deep — lower than the resting place of the Titanic.
On Wednesday, a maritime recovery company, Odyssey Marine Exploration of Tampa, Fla., said it had succeeded in removing about 43 percent of the insured silver aboard the rusting hulk and 20 percent of the total silver that its research indicates might be on board. The company said it planned to return quickly to the site for another round of recovery.
Greg Stemm, the chief executive of Odyssey, said it was the heaviest and deepest cargo of precious metal ever lifted from a shipwreck. The haul, he said, demonstrates that marine technologies have improved to the point that no sunken ship is too deep and no cargo too large for retrieval.
“People have been worried about the technology,” Mr. Stemm said in an interview. “This shows that we have it under control. We can pick up large amounts of silver.”
Mike Penning, a minister at the British Department for Transport (a successor to the Ministry of War Transport), which hired Odyssey, said in a statement that he welcomed the company’s “hard work in the salvage operation” and its successful “recovery of the valuable cargo.”
Riches found in the deep sea often lie undisturbed because lifting them is too difficult. In 1995, treasure hunters located a lost submarine carrying two tons of gold. It remains on the bottom.
But Odyssey is under contract to the British government, which took possession of the recovered silver on Wednesday. A total of 1,203 silver bars were loaded onto three large trucks at Bristol, England, and taken to an undisclosed location for secure storage and processing.
Mr. Stemm said the old bars exhibited none of the shimmering patina usually associated with fresh silver. “It’s been underwater so long, it could be mistaken for iron,” he said.
Odyssey invested its own money in finding the ship and will split the profits, the company getting 80 percent of the silver’s value and the British government 20 percent. The company — which is listed on the Nasdaq exchange and announced the silver’s recovery before trading began on Wednesday — disclosed the shipwreck’s discovery last fall.
At Wednesday’s market value, the 1.4 million troy ounces of silver (48 tons) recovered so far would fetch about $38 million.
Odyssey says the Gairsoppa held up to 240 tons of silver, which could bring in as much as $190 million at today’s rates.
The technologies now speeding such endeavors include new generations of tethered robots, lights and claws that can withstand the crushing pressures of the deep, as well as powerful computers that coordinate the distant but delicate action.
Mr. Stemm said that one of the less conspicuous advances centered on the composition of the long cables lowered from the recovery ship to the assembly point on the bottom next to a rusting shipwreck. Long steel cables, he noted, can break under their own immense weight. His company now uses a kind of plastic cable called Dyneema that is as strong as steel but weightless in seawater.
“It’s like working in outer space,” he said of viewing the undersea operations from the recovery ship. “It’s very neat.”
The Gairsoppa, a vessel of the British Indian Steam Navigation Company, was named for a spectacular waterfall near India’s western coast. In December 1940, it sailed from Calcutta, now called Kolkata, laden with tea, iron and tons of silver. In Freetown, Sierra Leone, the ship joined a military convoy headed to the British Isles and the contested waters of the North Atlantic.
The steamship, 412 feet long, had 83 crewmen and 2 gunners on board, according to Lloyd’s of London, which compiles information about cargos lost in war.
High winds and a heavy swell forced the Gairsoppa to slow. As the weather deteriorated, the captain judged that the wallowing ship had insufficient coal to make it to Liverpool and broke from the convoy for Galway, in western Ireland.
On Feb. 17, 1941, a German U-boat attacked. A single torpedo ripped through the Gairsoppa’s hull and exploded, causing the forward mast to topple and the antenna to snap, cutting off the ship from the world. The U-boat opened fire as the Gairsoppa sank.
All 85 men died save one — the second officer, who survived 13 days in a lifeboat.
In recent years, the famous cargo began to beckon as technological strides made it easier to find lost vessels. At least one company tried, and failed, to find the shipwreck.
In early 2010, Odyssey won an exclusive contract from Britain’s Department for Transport to salvage the silver. Last summer, it hired a Russian ship and performed a preliminary survey in international waters, finding what it considered solid clues.
Later, the company took its main ship, the Odyssey Explorer, to investigate the area. Its tethered robot took three and a half hours to descend 2.9 miles through dark waters to the muddy seabed. Then came a eureka moment, when the robot found a gaping torpedo hole.
The project’s success so far has elated Odyssey about the possibilities for other shipwrecks.
“There are billions of dollars worth of cargos that have been considered unrecoverable,” Mr. Stemm said. “This opens up the entire ocean floor.”
http://tinyurl.com/87l83pp
Last edited:
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