The history of maritime trade is rich with stories of ships carrying valuable cargoes, especially during the age of exploration and colonial expansion. During this period, European powers shipped vast fortunes across seas and oceans.
For example, Spanish galleons carried vast amounts of gold, silver and other precious stones from the Americas to Spain. A single vessel could carry two tonnes of gold, making these voyages lucrative as well as dangerous, as pirates or rival naval powers could attack these treasure ships.
From the 17th to the 19th centuries, commodities like spices, tea, and silk were among the most valuable cargoes transported by ships. Clipper Ships, known for their speed, were used for transporting these items from Asia to Europe. The profits from a single journey were massive and fueled the rise of trading empires and economies.
Read this article to find out about the most valuable cargoes ever transported by commercial ships.
Nuestra Señora de Atocha (1622)
Spanish Galleon Nuestra Señora de Atocha was a part of the 1622 Treasure Fleet. It transported wealth from the New World to Spain and sank near the Florida Keys in 1622 during a hurricane.
At that time, the galleon was carrying 24 tonnes of silver bullion, ingots and coins, 125 gold bars and discs, 1200 pounds of silverware and emeralds, including the famous Atocha Star.
The estimated value of the cargo is around $400 million, making it one of the most valuable shipwrecks ever found.
The Atocha Star Emerald originally weighed more than 25.87 carats before it was cut to 12.72 carats. Artefacts recovered from the wreck are displayed at the Mel Fisher Maritime Museum in Key West, Florida and include bronze cannons, navigation instruments, etc.
The loss of this ship had major repercussions for Spain, which was engaged in the Thirty Years’ War.
SS Central America (1857)
Also called the ‘Ship of Gold’, the SS Central America was a sidewheel steamer which sank during a hurricane off the South Carolina coast.
It was loaded with 9 tonnes of gold from the California Gold Rush, which was intended to boost the U.S economy. However, the loss of the valuable cargo was a contributory factor to the Panic of 1857, a major financial crisis. Presently, the gold is valued at more than $849 million.
Manila Galleons (1565–1815)
The Manila Galleons were Spanish trading vessels which sailed between the Philippines and Mexico. They transported luxury items from Asia, like Chinese silk, porcelain and jade, spices like nutmeg, cloves and cinnamon, precious stones, jewellery, Ivory, lacquerware, etc, in exchange for silver from the New World.
These vessels made one or two round-trip voyages annually between the ports of Manila and Acapulco from the late 16th to the early 19th century.
Silver prices were higher in Asia than in America, leading to greater opportunities for the Manila galleons. They were fully loaded, every space from the decks, cabins filled with goods, and in some cases, they even towed barges filled with more goods.
Though it led to slow speeds and shipwrecks, the profits were enormous. Also, slaves from different regions of Asia were taken on these ships to Mexico.
These vessels were called ‘La Nao de China’ in Spain, meaning ‘The China Ship’, because they mostly carried Chinese goods from Manila.
Portuguese Spice Carracks (16th–17th Centuries)
Portuguese spice carracks, famous in the 16th and 17th centuries, were massive merchant vessels vital for the Portuguese spice trade between Europe and Asia.
These ships often carried vast amounts of gold, spices, silk, ivory and other precious items. They were also equipped with cannons to defend themselves from pirates and the navies of enemies.
Carracks began to have heavier cannons as naval gunfire evolved with time.
Prominent carracks included the Santa Maria of Christopher Columbus and Victoria, which completed the first circumnavigation of the globe.
The spice trade and use of carracks led to conflicts with other powers, like the Dutch, who sought to break the monopoly of the Portuguese.
Ice Trade To India (1833–1850)
During the period of the Ice trade, ships like Tuscany carried the first ice shipment from Boston to Calcutta. The shipment had nearly 100 tonnes of ice and yielded about $9900 in profits.
Other ships, like Elizabeth Kimball and the Arabella, also participated in carrying ice in the 1850s. The former was a clipper ship constructed in Marblehead, Massachusetts, and made round trips between Boston and Calcutta, carrying ice as outward cargo.
In the 19th century, this trade was seen as highly profitable because ice was considered a luxury and became popular in cities like Bombay and Calcutta among the elite to cool drinks and even keep food fresh for longer periods of time.
Between 1830-1850, the merchant Frederic Tudor made more than $ 220,000 in profits, which is around $4.7 million from the ice trade to India, highlighting the high value of this seemingly mundane commodity that is now common in every household.
Sir John Lawrence (1867)
Sir John Lawrence was a wooden sailing vessel built in 1864 in Scotland. It was classified as a clipper and sailed on trade routes between the U.K and Australia. With a gross register tonnage of 902 tonnes, the vessel was owned by a prominent shipping company in Aberdeen.
In 1867, the vessel left Melbourne, Australia for London, laden with precious cargo which included 62,000 ounces of gold, valued at £250,000 at the time, equivalent to approximately 30 million dollars today, along with 1746 bales of wool, reflecting Australia’s booming wool industry, 250 bales of cotton, showing agricultural exports of the colony, 600 tonnes of wheat and lastly 1200 pieces of copper, highlighting the mining activities prevalent in Australia.
Las Cinco Chagas (1594)
This Portuguese carrack was among the biggest ships of its time. It was commanded by Francisco de Mello, and left for its maiden voyage from Goa to Lisbon carrying 3,50,000 Portuguese cruzados in gold coins, 22 treasure chests filled with diamonds, rubies and pearls in addition to spices like indigo, pepper and cloves.
The ship also carried more than 1000 individuals, including 400 slaves, merchants and passengers. However, hundreds died due to disease and overcrowding.
On June 22, 1594, close to the Azores, Las Cinco Chagos encountered an English privateer fleet led by the Earl of Cumberland. The fleet consisted of the ships called the Mayflower, the Royal Exchange and the Sampson.
A battle ensued and lasted for 2 days, in which the crew defended their ship, but it caught fire and sank. Of the total people, just 13 survived. Its cargo is said to be worth $15 to $20 billion today, however, despite efforts by treasure hunters, it has not been discovered yet.
To Conclude
From the Spanish galleons, to clippers and Portuguese carracks, the maritime trade in the medieval and pre-modern era saw the transport of precious metals, jewels, stones, spices and raw materials from Asia and the Americas to the New World. This trade was vital for the establishment of economic institutions and systems which are common today and shaped the history of maritime trade and commerce for centuries to come.
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