[centurion316]

It’s not a warship. When she was sold to the East India Company, it ceased to be a commissioned warship and became a merchant ship. This is a critical point in respect to the salvage rights and sovereignty ownership.

The rum would have certainly been in barrels, not bottles, and therefore is likely long gone. The ship has great historical value and may have some value if it has coinage or bullion on their manifest.

[colorado tanker]

At the time the Company governed India and had its own army and navy. After the 1857 Mutiny, the Company was stripped of those powers and direct British colonial rule was instituted. But, as you say, technically, this was not a ship of the Royal Navy.

I found the article confusing and did some checking. During the Seven Years War Spain seized Colonia del Sacramento, which is on the River Plate. Apparently, this ship was attacking Colonia but got too close to the land guns. After the end of the War, it went back to Portugal, hence the Spanish mayhem when they left. Obviously, eventually the region became independent and Spanish speaking.