In the depths of the ocean off the coast of Cartagena, Colombia, lies a 300-year-old sunken warship that has become the center of a $10 billion legal battle. The San José galleon, which met its tragic end in 1708 during a battle against the British, is believed to hold the most substantial maritime treasure in history, valued at anywhere from $4 billion to a staggering $20 billion. This priceless haul includes over 7 million pesos, 116 steel chests brimming with emeralds, and a staggering 30 million gold coins, most of which were extracted from Colombian and Peruvian mines using forced labor.
The dispute over the treasure’s ownership stems from the claims of a US salvage company, Sea Search Armada, formerly known as Glocca Morra. The company asserts that it was the first to discover debris from the San José in 1981 during an exploratory expedition searching for shipwrecks and other valuable relics in Caribbean waters. In accordance with their agreement with the Colombian government, Sea Search Armada maintains that they should receive half of the ship’s treasures, given that they provided the coordinates of the wreckage.
However, the Colombian government refutes many of Sea Search Armada’s assertions, including the accuracy of the provided coordinates. A 1994 report from the Colombian government stated that there was no shipwreck found at or near the coordinates shared by Glocca Morra. Additionally, the government argues that the company’s 1982 report does not explicitly mention the discovery of the San José, only referring to a “large shipwreck.”
The dispute deepens as Sea Search Armada sues for $10 billion, alleging that this amount corresponds to half of the treasure’s value, under the US-Colombia Trade Promotion Agreement. The case is set to be adjudicated in the Permanent Court of Arbitration, with hearings scheduled for the coming months. A court tribunal is expected to deliver a decision by February, but the battle for the San José’s treasures is far from over.
Colombia now considers the ship and its treasures as a national heritage item that should remain in the country. President Juan Manuel Santos announced the discovery of the real San José shipwreck in 2015 but kept the coordinates secret. The race to recover this incredible treasure trove is intensifying as the legal dispute unfolds, with Colombian President Gustavo Petro aiming to bring the ship to the surface before his term ends in 2026.
The images and videos of the San José shipwreck’s remnants on the ocean floor showcase fine china, coins, and cannons strewn across the seabed. As the battle rages on, the fate of this historic sunken warship and its unparalleled treasures remains uncertain, leaving us to wonder who will ultimately claim the spoils of this incredible maritime discovery.
