A series of earthquakes and tidal waves that struck its coast submerged the island of Antirhodos, which was discovered in 1996.
Over the years, divers have recovered statues, coins and other treasures there, with some on display at the Greco-Roman Museum in Alexandria.
IEASM director Franck Goddio recently published a report on Antirhodos and its Temple of Isis, based on underwater exploration carried out since the 1990s.
Future research on the recently discovered wreck “promises to be a fascinating journey into the life, religion, wealth and waterway pleasures of ancient Roman Egypt”, the institute said.
Alexandria is home to ancient ruins and historic treasures, but Egypt’s second-largest city is especially vulnerable to climate change and rising sea levels, sinking by more than three millimetres every year.
Even in the United Nations’ best-case scenario, a third of Alexandria will be underwater or uninhabitable by 2050.
-Agence France-Presse