Cinco Chagas – The Billion-Dollar Ghost Ship of the Azores?

[Selwyn]

Hi everyone,

I've been digging into the mysterious case of the Cinco Chagas, a massive Portuguese carrack that sank in 1594 after a fierce naval battle with the English near the Azores. According to historical accounts, she was carrying cargo valued (in today’s terms) at over $1 billion — including gold, silver, gems, spices, and personal fortunes of returning passengers from Goa.

Despite this, there seems to be surprisingly little attention on this wreck compared to others of lesser value. The standard location given places her about 18 nautical miles south of the Faial–Pico channel, in very deep water (~1600+ meters), and that’s pretty much where most interest seems to end.

What strikes me is the lack of recent search efforts, salvage documentation, or even serious maritime archaeology focused on her. Most articles just repeat the same summary from older sources — and it makes you wonder:

• Did people just give up?
• Has no one seriously re-evaluated the events or tactical movement of the ship?
• Or is there something we’re missing?

I’m curious if anyone here has come across more detailed research, expedition reports, or alternate theories that haven’t made it into the usual summaries. I am just hoping to connect with others who may have dug into this topic deeper than surface-level accounts.

It just seems strange that a ship that massive, that rich, and that lost.

Any info, thoughts, or rabbit holes welcome!