The Cayman Salvage Master was built in 1937. She is 187-feet long, with a beam of 37 feet. It has been reported that she was originally a Coast Guard buoy tender, later serving as cable layer and a freighter. Recently we were contacted by a sailor who served on her, whose research found that she was originally a mine layer, then later served as more of a personal yacht for a local commander than a cable layer. She was probably never a buoy tender. She was originally christened the "F. V. Hunt", later becoming the "Lt. Col. Ellery W. Niles".

She transported Cuban refugees during the Mariel boatlift in 1979, resulting in her seizure by the US government. While awaiting her fate at dock in Key West, she sank. After raising her, she was designated for sinking in 300 feet of water as a sport fisherman attraction. In August, 1985, she was being towed enroute to her designated resting spot when she sank prematurely, landing in 90 feet of water on her port side. Later in 1985, Hurricane Kate kindly righted her.