Buy a shipwreck

Answer 1

You must first contact the owner of the ship. If the ship has been abandoned or denied salvage for a period of five years then one may reach out to the entity controlling the waters the hulk is located in. Using the M.S.S. World Discoverer, laying on it's side for the past ten years in waters controlled by the Solomon Islands, Lloyds of London had to be contacted as they 'paid off' the ship when it was determined by two salvage companies that the hulk could not be salvaged. Lloyds declared the hulk a total loss and surrendered all ownership or liability for the wreck. Ownership fell, ostensibly, to the Solomon Islands. The SOLOMON ISLANDS MARITIME SAFETY ADMINISTRATION. MINISTRY OF TRANSPORT INFRASTRUCTURE & DEVELOPMENT had to be contacted. A price of $25,000 U.S. was arranged and the purchase of the hulk was successfully completed by a U.S. investor. A resort was constructed near where the hulk lays with the shipwreck being the signature offshore point of interest for tourists and locals alike. The interior of the hulk is off limits for liability reasons. This is but one example of how a shipwreck may be acquired by a private party, person or entity. All such situations are different depending upon where the wreck is located and what financial entities may be involved.