Ancient Wooden Ship Emerges Intact From Geographic's Black Sea ExpeditionThe discovery in September of the well-preserved ship confirms scientists' belief that the oxygen-deprived waters of the Black Sea below 656 feet (200 meters) provide an ideal environment for preserving ancient wooden vessels, making that sea a treasure-house for archaeologists. Shipwrecks in most other bodies of water usually are robbed of their wooden parts quickly by wood-boring organisms.
by Mary Jeanne Jacobsen and Barbara Moffet
Ballard's website
Deep Water, Ancient Ships:
The Treasure Vault of the Mediterranean
by Willard Bascom
Yup. I saw the video. The ship is sitting there perfectly up-right with the tall mast still standing. It didn't look very old.