Overview

• High-resolution seabed images released by researchers linked to the Colombian navy have definitively identified the galleon at 600 m off Cartagena as the San José, carrying treasure valued at $20–30 billion.
• President Gustavo Petro’s administration has designated the wreck’s location a state secret and plans to raise part of its haul before his term ends in 2026.
• Spain, the U.S. salvage firm Sea Search Armada and indigenous groups from Peru and Colombia have all filed competing claims to the ship and its cargo.
• Sea Search Armada is seeking a $13 billion finder’s fee in a contractual dispute with the Colombian government before the Permanent Court of Arbitration.
• The absence of UNESCO treaty ratification by Colombia and the United States leaves no binding international framework to govern the wreck’s recovery and preservation.