Is this Captain Henry Morgan's ship hull?
3 August 2011 Last updated at 18:26 BST
Archaeologists from Texas State University believe they have uncovered a ship found near the site where Welsh Admiral Sir Henry Morgan's ships wrecked in 1671.
The infamous privateer - widely known as Captain Morgan - was on his way to Panama City with his men.
The researchers say they might have found a section of the hull as well as cargo boxes and coral-covered chests.
Trystan Young reports.