Lost ancient treasures of gold, oil, wine and metalwork may be hidden in the world’s oldest complete shipwreck which was discovered in the Black Sea by marine archaeologists.

An international team of researchers including experts from the University of Southampton found the intact skeleton of the Greek trading vessel which was carbon dated to 400BC and which still has an upright mast and rowing benches.

Although earlier wrecks have been found the ship has remained completely intact after being buried in the silty oxygen-free sediment of of the seabed for more than 2,400 years.

Usually with shipwrecks the cargo is lost when the ship breaks up, floating away on currents or ending up scattered around the stricken vessel.

But archaeologists believe the the goods may still be trapped in the hold and are hoping to raise funding to return to site to hunt for sunken treasure. The ship was a trading vessel so could contain grain, gold, wine, oil or priceless metalwork.

"Normally we find amphorae (wine vases) and can guess where it's come from, but with this it's still in the hold," said Dr Helen Farr, a marine archaeologist from the University of Southampton.

“It’s absolutely incredible. It’s to do with the preservation, we have bits of shipwreck that are earlier but this is intact, it’s lying on its side it’s got its mast, its rudders, it’s just not something you see everyday.