Authorities took the hasty move following reports that deep-sea fishermen had flocked to the shipwreck to retrieve jars, porcelain figurines, valuable stones and other artifacts from the sunken vessel.
The shipwreck was found five kilometers away from the shoreline of Barangay Loloc in Palawig town.
Pablo Gonzales, commander of the Coast Guards Subic station, said the Far Eastern Foundation for Nautical Archeology Inc.(FEFNA) will undertake a salvaging operation once it finishes its work, probably by Aug. 18, in another shipwreck off Hermana Mayor and Hermana Minor islands in Sta. Cruz town.
FEFNA is a private diving institution which the National Museum has tasked to conduct underwater recovery of artifacts.
To date, some 3,000 assorted artifacts dating back to Chinas 16th century Ming Dynasty have been recovered from the sunken vessel off the Hermana Mayor and Minor islands.
Earlier this week, Subic Bay Metropolitan Authority chairman Felicito Payumo has created a task force to stop looting from sunken vessels in the Subic Bay.