The Most Expensive Ships in History
The history of maritime trade is replete with stories of ships carrying precious cargoes, particularly during the Age of Exploration and colonial expansion. During this period, European powers transported vast sums of wealth across the oceans.
For example, Spanish galleons carried vast quantities of gold, silver, and other precious stones from the Americas to Spain. A single ship could carry two tons of gold, making these voyages both lucrative and fraught with danger, as pirates or hostile navies could attack these treasure ships.
From the 17th to the 19th centuries, commodities such as spices, tea, and silk were among the most expensive goods transported by ships. Fast sailing ships, renowned for their speed, were used to transport these goods from Asia to Europe. The profits from a single voyage were enormous, fueling the prosperity of empires and trading economies.
Santa Maria de Atocha (1622)
The Spanish galleon Santa Maria de Atocha was part of the 1622 Treasure Fleet. It was responsible for transporting the riches of the New World to Spain and sank in a hurricane near the Florida Keys in 1622.
The galleon was carrying 24 tons of silver bars, ingots, and coins, 125 gold bars and plates, and 1,200 pounds of silverware and emeralds, including the famous “Star of Atocha.”
This cargo is valued at approximately $400 million, making it one of the most expensive shipwrecks ever discovered.
The emeralds on the “Star of Atocha” originally weighed over 25.87 carats, but were later reduced to 12.72 carats. Artifacts salvaged from the wreck, including bronze cannons and navigational instruments, are on display at the Mel Fisher Maritime Museum in Key West, Florida.
The sinking of the ship had a severe impact on Spain, which was then engaged in the Thirty Years’ War.
Central America (1857)
Also known as the “Golden Ship,” this sidewheel steamer sank in a hurricane off the coast of South Carolina.
This ship was laden with nine tons of gold from the California Gold Rush, a frenzy intended to stimulate the American economy. However, the loss of this precious cargo led to the Panic of 1857. The gold is currently valued at over $849 million.
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Manila Galleons (1565-1815)
Manila Galleons were Spanish merchant ships that sailed between the Philippines and Mexico. They carried luxury goods from Asia, such as Chinese silk, porcelain, and jade; spices like nutmeg, cloves, and cinnamon; gemstones, jewelry, ivory, lacquerware, and other goods, in exchange for silver from the New World.
From the late 16th century to the early 19th century, these ships made one or two round trips annually between the ports of Manila and Acapulco.
The higher price of silver in Asia than in the Americas provided greater opportunities for Manila Galleons. They sailed fully loaded, filling every deck and hold; in some cases, they even towed barges carrying even larger cargoes. Although this resulted in slow speeds and shipwrecks, the profits were lucrative. Slaves from all over Asia were also transported to Mexico on these ships. In Spanish, these ships were known as “La Nao de China,” meaning “The Chinese Ship,” because they primarily carried Chinese goods from Manila.
Portuguese Spice Ships (16th and 17th Centuries)
Portuguese spice ships, renowned in the 16th and 17th centuries, were large merchant vessels crucial to Portugal’s role in the spice trade between Europe and Asia.
These ships typically carried large quantities of gold, spices, silk, ivory, and other precious commodities. They were also equipped with cannons to protect against pirates and enemy fleets.
As naval gunnery advanced, spice ships began to be equipped with heavier guns.
Famous spice ships include Christopher Columbus’s Santa Maria and the Victoria, which completed the first circumnavigation of the world.
The spice trade and the use of spice ships led to conflicts with other powers, such as the Dutch, who sought to break Portugal’s monopoly. Indian Ice Trade (1833-1850)
During the ice trade era, ships like the Tuscany carried the first ice cargo from Boston to Calcutta. The cargo weighed nearly 100 tons and generated a profit of approximately $9,900.
Other ships, such as the Elizabeth Kimball and the Arabella, also participated in ice transport in the 1850s. The former was a short-distance sailing vessel.
As naval artillery improved, caravels began to use heavier guns.
Famous caravels include the Santa Maria and Victoria, which completed Christopher Columbus’s first circumnavigation of the world.
The spice trade and the use of caravels led to conflicts with other powers, such as the Netherlands, which attempted to break the Portuguese monopoly.
Ice Trade with India (1833-1850)
During the ice trade, ships like the Tuscany carried the first ice shipment from Boston to Calcutta. This shipment contained nearly 100 tons of ice, generating a profit of approximately $9,900.
Other ships, such as the Elizabeth Kimball and the Arabella, also participated in ice transport in the 1850s. The first short-distance sailing ship, built in Marblehead, Massachusetts, plying ice between Boston and Calcutta, the Tuscany was a major player in the ice trade.
In the 19th century, the ice trade was lucrative and considered a luxury item, popular among the elite in cities like Bombay and Calcutta, who used it to cool drinks and even keep food fresh for longer periods.
Between 1830 and 1850, merchant Frederick Tudor earned over $220,000 (approximately $4.7 million) from the ice trade with India, highlighting the value of this seemingly insignificant commodity, now a household name.
Sir John Lawrence (1867)
The Sir John Lawrence was a wooden sailing ship built in Scotland in 1864. Classified as a sloop, it sailed the trade routes between Britain and Australia. With a gross registered tonnage of 902 tons, it was owned by a major Aberdeen shipping company.
In 1867, the ship set sail from Melbourne, Australia, bound for London, laden with a priceless cargo, including 62,000 ounces of gold, worth £250,000 at the time, equivalent to approximately $30 million today. Also on board were 1,746 bales of wool, reflecting Australia’s thriving wool industry; 250 bales of cotton, highlighting the colony’s agricultural exports; 600 tons of wheat; and 1,200 copper coins, highlighting Australia’s mining industry.
Five Chagas (1594)
This Portuguese ship was one of the largest of its time. Commanded by Francisco de Melo, it sailed from Goa to Lisbon, carrying 350,000 Portuguese crosses, 22 chests filled with diamonds, rubies, and pearls, and spices such as indigo, pepper, and cloves.
The ship carried over 1,000 people, including 400 slaves, traders, and travelers. However, hundreds died from disease and overcrowding.
On June 22, 1594, near the Azores, the Chagas Five encountered an English pirate fleet led by the Earl of Cumberland. The fleet consisted of the Mayflower, the Royal Exchange, and the Sampson.
A two-day battle ensued, during which the crews fought to defend the ship, but it eventually caught fire and sank. Of all those aboard, only 13 survived. The ship’s cargo is said to be currently valued at between $15 billion and $20 billion; however, despite the efforts of treasure hunters, it remains undiscovered.
Summary
From Spanish galleons to Portuguese galleons and caravels, medieval and pre-modern maritime trade saw precious metals, jewelry, gemstones, spices, and raw materials shipped from Asia and the Americas to the New World. This trade was crucial to the establishment of the institutions and economies common today and shaped the history of maritime trade for centuries to come.
