USA: Odyssey Marine Exploration Executes HMS Victory Agreement

first_img View post tag: marine View post tag: usa February 2, 2012 Back to overview,Home naval-today USA: Odyssey Marine Exploration Executes HMS Victory Agreement Industry news View post tag: agreement View post tag: Executes View post tag: Exploration View post tag: Naval View post tag: Victory View post tag: Navy Odyssey Marine Exploration, Inc. , a pioneer in the field of deep-ocean shipwreck exploration and archaeology, has executed an agreement with the Maritime Heritage Foundation for the financing, archaeological survey and excavation, conservation and exhibit of HMS Victory (1744) and artifacts from the shipwreck site. HMS Victory was a British First Rate Warship that sank during a storm in 1744 while under the command of Admiral Sir John Balchin.In 2008, Odyssey discovered HMS Victory and is salvor-in-possession of the wreck. After a period of joint consultation between the UK Ministry of Defence and the UK Department for Culture, Media and Sport, and a public consultation period, the remains of HMS Victory were transferred to the Maritime Heritage Foundation in January 2012. The Foundation, a charity established to locate shipwrecks, investigate, recover and preserve artifacts to the highest archaeological standards and to promote knowledge and understanding of Britain’s maritime heritage, has now assumed responsibility for the future management of the wreck site.“We are honored to work with the Maritime Heritage Foundation on the Victory project, an important piece of British naval heritage. Since our discovery of HMS Victory, we’ve continued to monitor the site and have sadly noted significant changes to the site including four ton cannon that have been dragged and damaged, as well as the illicit recovery of a cannon by another salvor, signs that the idea of preserving the site in situ is clearly not practical,” said Greg Stemm, Odyssey CEO. “We plan a phased approach which will include an initial non-disturbance survey and expect to begin the archaeological excavation as soon as practical.”“We hope that this site will give us a unique insight into the world of the mid-eighteenth century Royal Navy,” stated Sir Robert Balchin, the Chairman of the Maritime Heritage Foundation. “We are very concerned that natural erosion, damage from fishing vessels and illegal looting may endanger the wreck and therefore we have planned an archaeological survey that will record the site before it deteriorates further. Odyssey Marine Exploration has proved its expertise and we are looking forward to working with them to protect the maritime heritage associated with Balchin’s Victory.”Pursuant to the executed agreement Odyssey has produced an extensive project design for the archaeological excavation of the site, including a complete plan for recording, documentation, conservation, publication and public education. Once the project plan is approved by the Foundation, fieldwork is expected to begin in early 2012, depending on weather conditions and equipment availability.The agreement calls for Odyssey’s project costs to be reimbursed and for Odyssey to be paid a percentage of the recovered artifacts’ fair value. The preferred option is for Odyssey to be compensated in cash. However, if the Foundation determines, based on the principles adopted for its own collection management and curation policy, that it is in its best interest to de-accession certain artifacts, the Foundation may choose to compensate Odyssey with artifacts in lieu of cash.Odyssey will receive the equivalent of 80% of the fair value of artifacts which were primarily used in trade or commerce or were private property and bear no direct connection to the construction, navigation, defense or crew of the ship, such as coins or other cargo.Odyssey will receive the equivalent of 50% of the fair value of all other objects typically associated with the construction, crewing and sailing of ships including, but not limited to, the ship’s hull, fittings, fasteners, construction elements, clothing, organic remains, foodstuffs, cooking utensils, pottery, weapons, ammunition, ground tackle and navigational equipment.For any private property including coins or other cargo administered through the Receiver of Wreck, the Foundation has agreed that Odyssey shall receive 80% of the value.A Private Curatorship Program will be established for certain artifacts from the site considered by the Foundation to be suitable for de-accession to prevent their irretrievable dispersal and to allow ongoing scientific study. About The Maritime Heritage FoundationThe Maritime Heritage Foundation is a charitable trust established to locate shipwrecks, investigate, recover and preserve artifacts to the highest archaeological standards, and to promote knowledge and understanding of Britain’s maritime heritage. The Foundation has been entrusted, by the UK Ministry of Defence, the shipwreck site of HMS Victory, which sank off the coast of southwest England in 1744 while serving as the flagship of Admiral Sir John Balchin. The Foundation seeks to prevent damage to this historically important site and to maximize its archaeological, scientific and educational value and envisions an archaeological excavation of the site, the conservation, exhibition and study of the artefacts recovered, as well as the development of programs to educate a new generation about maritime history. The Chairman of the Trust is Sir Robert Balchin who is a kinsman of Admiral Sir John Balchin. The Maritime Heritage Foundation is a Charity Registered in England no 1141244.About HMS Victory (lost 1744)HMS Victory, commanded by Admiral Sir John Balchin, was considered the greatest ship in the world when she disappeared. Built with three decks and elaborately decorated open stern galleries and armed with up to 110 guns Victory was the last Royal Navy warship to be lost at sea with a complete complement of bronze cannon. Her final voyage began in July 1744, when a fleet was dispatched under the command of Sir John, one of Britain’s most revered admirals, and she sank on 5 October 1744.Theories about the demise of the Victory began to circulate almost immediately. When wreckage marked with the name Victory washed ashore on the coasts of Alderney, Guernsey and Jersey, it was assumed the ship went down off the Channel Islands. The prevailing belief was that the warship had struck the Casquets, a group of rocky islets northwest of Alderney, infamously known as the “graveyard of the English Channel.” The tragic loss of Victory has long puzzled scholars and although the remains were never located, the blame for the ship’s loss was placed on poor navigation by the Captain. The Alderney lighthouse keeper was subjected to a court martial for allegedly failing to keep the lights on between 1 and 5 October, 1744. For nearly 300 years, the wreck site has been searched for fruitlessly, until in 2008, Odyssey Marine Exploration discovered the wreckage, ending one of Britain’s most perplexing naval mysteries. The discovery put to rest questions about where the Victory sank, for it was found nearly 60 miles west of the Casquets and thus exonerated the officers as well as the Alderney lighthouse keeper.About the Archaeological Survey of HMS VictoryFieldwork will be conducted in accordance with an approved project design, and the work is anticipated to begin in early 2012 depending on weather conditions and equipment availability. The fieldwork will seek to answer various unresolved historical questions through a non-disturbance survey including:Did the massive three-decked, 53 meter-long warship sink due to poor construction using inferior wood?How well are the ship’s hull and original interior spaces (archaeological contexts) preserved?How do the artifacts reflect the differing social hierarchy and cultural tastes of life at sea for the 1,100-person crew (the ‘upstairs-downstairs’ effect studied by comparing wooden mess bowls with more costly ceramics; clothing accessories, such as buttons and watches)?What was the real extent of Victory’s firepower, based on an examination of the warship’s unique bronze cannon (listed as up to 100 guns)?About Odyssey Marine Exploration, Inc. Odyssey Marine Exploration, Inc.  is engaged in deep-ocean exploration using innovative methods and state-of-the-art technology. The Company is a world leader in shipwreck exploration, conducting extensive search and archaeological recovery operations on deep-ocean shipwrecks around the world. Odyssey also has a minority ownership stake in Neptune Minerals, a company focused on discovering and commercializing high-value mineral deposits from the ocean floor. Odyssey also provides contracting services, including proprietary deep-ocean expertise and equipment, to governments and companies around the world.Odyssey recently located the shipwreck of the SS Gairsoppa, which sank in 1941 carrying a reported cargo of up to seven million ounces of silver and the SS Mantola, which sank in1917 with a reported 600,000 ounces of silver. The Company also discovered the Civil War-era shipwreck of the SS Republic® in 2003 and recovered over 50,000 coins and 14,000 artifacts from the site nearly 1,700 feet deep. In May 2007, Odyssey announced the historic deep-ocean treasure recovery of over 500,000 silver and gold coins, weighing 17 tons, from a Colonial-era site code-named “Black Swan.” In February 2009, Odyssey announced the discovery of Balchin’s HMS Victory. Odyssey also has other shipwreck projects in various stages of development around the world.Odyssey offers various ways to share in the excitement of deep-ocean exploration by making shipwreck treasures and artifacts available to collectors, the general public and students through its webstore, exhibits, books, television, merchandise, educational programs and virtual museum located at www.odysseysvirtualmuseum.com. Odyssey’s shipwreck operations are the subject of a Discovery Channel television series titled “Treasure Quest,” produced by JWM Productions. The 12-episode first season aired worldwide in 2009. Following previous successful engagements in New Orleans, Tampa, Detroit, Oklahoma City, Charlotte, Baltimore, Sarasota, and San Antonio, Odyssey’s SHIPWRECK! exhibit will open at the Mid American Science Museum on February 14, 2012. For details on Odyssey’s activities and its commitment to the preservation of maritime heritage please visit www.shipwreck.net.Odyssey Marine Exploration believes the information set forth in this Press Release may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in “Risk Factors” in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2010, which has been filed with the Securities and Exchange Commission.[mappress]Naval Today Staff , February 02, 2012 USA: Odyssey Marine Exploration Executes HMS Victory Agreement View post tag: HMS View post tag: Odyssey Share this article View post tag: News by topiclast_img read more

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Nyantakyi jabs Nii Lante over Black Stars Gabon bonuses

first_imgThe Ghana Football Association President  says Sports Minister, Nii Lante Vanderpuye is to blame for the lack of concrete decision on bonsuses for the Black Stars in the 2017 Africa Cup of Nations.Kwasi Nyantakyi says management team has been denied involvement in bonus negotiations because of the Minister’s “Strange modern management style.”At a media briefing in Accra Tuesday, Mr Nyantakyi said the Sports Minister has disregarded the caretakers of the Black Stars because of his belief that they are siphoning state funds.”On the eve of the match with Uganda he had a meeting with players without management for well over three hours and at the end of the meeting the players did not have enough time to rest,” he said reprovingly.Mr Vanderpuye has had issues with members of the Black Stars management team over suspicion that they are not acting in the interest of Ghana.Relations between him and the FA President has been frosty since he was sworn-in as Minister by the outgoing President John Mahama. In August, 2016 Mr Nyantakyi had accused the Minister of engaging the media more than he did with the Football Association.”We do not have any problem with the Minister; he has chosen to engage us through the media [and] anytime we hear of any meeting between him and us, we hear it through the media,” he mockingly said.Mr Vanderpuye was also to state during a media interview in August that he has nothing against the FA and its leadership.He stated that “When the President swore me in as the Sports Minister, he told me to work to raise the image of football in Ghana high but people think I have problem with them.””I only want the right thing to be done,” he said. But the FA says the Minister has refused to do the right thing since he was put in charge of the Youth and Sports Ministry.Mr Nyantakyi said one of the FA conventions is that the management should be involved in decision making but the Minister’s style of leadership does not permit that.”He [had met the Black Stars] twice without our involvement. The first one was in Alisa Hotel and the second one in Tamale when we went to play Uganda,” he said, adding the three hour meeting could be partially blamed for the team’s poor performance.He, however, said a meeting has been scheduled between the team and the incoming government to finalise the arrangements regarding “financial issues and the bonus structure.”Mr Nyantakyi argued this is important for the players to know what they stand to gain or lose in the Gabon competition.last_img read more

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LSU hands Oklahoma another SEC-style beatdown in College Football Playoff

first_imgThe truth isn’t always easy to accept. The SEC champion, led by a record-setting performance from Heisman Trophy winner Joe Burrow, toasted the Big 12 champion, 63-28. It was another example of a concept conspiracy theorists have tossed around since the Bowl Championship Series.Is it SEC bias? No. This was another confirmation of the SEC’s power: a flex, as the kids like to say. And Ed Orgeron’s LSU team flexed for the SEC, all right.MORE: Takeaways from LSU’s record-setting blowout of OklahomaLSU has a chance to win the conference’s 12th national championship since the BCS began in 1998. The SEC improved to 6-1 in College Football Playoff semifinals. The conference is 11-5 in championship games, and two of those title-game losses came in head-to-head matchups with other SEC teams.The Tigers now have a chance to win their third national championship since the BCS era, and this one comes in a season where Orgeron refurbished the offense around offensive coordinator Steve Ensminger and passing game coordinator Joe Brady: one that piled up an FBS-best 554.4 yards per game during the regular season. It was even better on this penultimate stage, putting up a record-692 yards against the Sooners in another SEC-style beatdown.This explains why the Tigers were double-digit favorites. They banked victories against top-10 teams in Texas, Florida, Auburn, Alabama and Georgia in the regular season, leap-frogging Ohio State in the final College Football Playoff rankings — a move that kicked up some of those SEC bias cat-calls from the tin-foil crowd.So, LSU went out and blew the doors off the Sooners. It might have been expected, but it was still done in somewhat-stunning fashion. Burrow hit 21 of 27 passes for 403 yards and seven touchdowns in the first half, building a 49-14 lead. He finished with 515 total yards (493 pass, 22 rush) and eight total scores.Justin Jefferson caught a Peach Bowl-record four touchdowns, part of a game in which he caught 14 passes for 222 yards. The Tigers’ defense helped stretch that lead out by bottling up Jalen Hurts and his well-documented rushing ability. By the time Thaddeus Moss, the son of NFL Hall of Famer Randy Moss, scored with 4:18 remaining in the first half, it was OK to say it out loud:The Sooners got Mossed.MORE: Updates, scores, highlights from LSU’s record-breaking winLSU scored on seven of its eight possessions in the first half. The Tigers coasted after halftime, but Burrow added a touchdown run for added emphasis as LSU lapped Oklahoma in a Big 12-style track meet. Or was it a SEC-style track meet? Whatever it was, LSU out-classed Oklahoma, and will likely be favored in the championship game against either Clemson or Ohio State.But not before another round of conspiracy theories are tossed around: The CFP committee took care of the Tigers by putting them in Atlanta. The Playoff set up perfectly for LSU, which will have a virtual home game at the Mercedes-Benz Superdome in New Orleans. It’s SEC bias from ESPN and the SEC Network and Pawlllll. …No, it’s not. This is a complete team with a future No. 1 pick in Burrow at the offensive controls. Burrow generated more than half a million in donations to the Athens food pantry with his Heisman speech off the field, then hit every note in dicing up the Sooners’ secondary on the field. If the Cincinnati Bengals don’t take this guy, they will regret it for the next decade. No. 1 LSU played in its first College Football Playoff semifinal on Saturday. No. 4 Oklahoma played in its third straight, and fourth in five years.And yet the Tigers toyed with the Sooners all throughout the Peach Bowl. How? But back to LSU: This is a team playing on a level reserved for that Cadillac-class of SEC champions that have dominated that BCS and the Playoff eras. This LSU team is built for this moment, both on and off the field, and that’s just part of the identity of a conference that continues to claim, “It just means more.”How many times does that need to be confirmed before it’s accepted for what it is? It’s not bias.It’s reality.last_img read more

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