Blue Baron is the code name given to a shipwreck believed to be sunk approximately 40 miles of the coast of Guyana in approximately 800 feet of water, whose full identity and exact location have not been disclosed. It is reported to contain a treasure cargo including at least ten tons of gold bullion, 70 tons of platinum, one and a half tons of industrial diamonds and 16 million carats of gem quality diamonds, which at today's value is worth approximately US$3.5 billion. If true, this would make it the richest treasure ship ever salvaged, dwarfing the previous record recovery. The wreck is reported to lie in international waters.
The wreck was located by Sub Sea Research, who intend to salvage the ship. A salvage vessel has been equipped in Louisiana to sail to the site. The shipwreck was reported to have been sunk in June 1942, by the German U-boat U-87.
Although no cargo has yet been recovered, commentators have already pointed out that given the sums involved, and the level of complexity involved in property claims relating to the salvage of shipwrecked cargos, it is highly likely that any recoveries will result in protracted litigation.
The cargo is believed to have been shipped from the United Kingdom and the USSR to the United States under the Lend-Lease scheme.
In an interview with the Daily Telegraph, Sub Sea Research provided a photograph of the ship which the newspaper identified as a tramp steamer, noting that her funnel is similar to those of the shipping line Hogarth and Co, of Glasgow. The paper further pointed out that the names of all ships in that shipping line began with the word Baron (and there is in fact one named Blue Baron, but which apparently could not be the wreck). However, none of the 17 ships lost by the line during World War II appear to have been sunk in this area at the relevant time.
The newspaper further points out that picture also resembles the Port Nicholson, a steamer sunk by U-87 during June 1942, but which was sunk whilst it 2,000 miles north, off Cape Cod. Sub Sea Research has indicated that the Port Nicholson is not the Blue Baron.
Sub Sea Research will confirm only that the wreck is a British freighter.