The Institute for Aegean Prehistory has conducted a survey of possible underwater sites that might be of interest and discovered the remains of the first Minoan shipwreck in an area that Jacques Cousteau had looked at in his search for Atlantis.

Near the island of Pseira, pots and amphoras from the Middle Minoan IIB period (1800-1700/1675 b.c.), were found, cargo from a ship that had apparently capsized. The hull was above the cargo and thereby was subject to deterioration and eventual disappearance. The cargo of containers were made from clay found in places on East Crete. The examination of the cargo continues.