Who Owns a Shipwreck?

Wreck of the African's Company Steamship Soudan in Funchal Bay, Madeira, ILN 1875

New technology now allows for the exploration of deep-water wrecks previously not accessible. But, who really owns a shipwreck?

Most countries, especially coastal states, have their own legislation that regulates the exploration and exploitation of shipwrecks as a cultural or economic resource.