This kingdom is not far distant from the straits of the Red Sea, where they have erected a very strong fortress[3], and are building another in the mouth of the bay of Cochin, provided with all kinds of warlike artillery, by which to repel the enemy, and to provide a safe station, for our fleet; nor shall we recede from thence, however adverse the natives may be to our remaining; and when the same shall be done in the bay of Calicut, it will not then be difficult to defend these stations and the adjoining coasts against all aggressors.  Our ships which remained in these seas last year made no small booty, as they took one morning five ships bound from the kingdom of Cambaya for Mecca, the shrine of Mahomet, in which they found 1000 cantari or quintals of clean cloves, besides a large quantity of the same spice not freed from the husk as is usual with us.  These ships had likewise castor and other perfumes of that kind[4], sanders wood, amber, purified lac, and excessively fine linen, and a large sum in gold and silver coin; insomuch that the value of this prize exceeded 200,000 ducats.

Having thus informed you of the wealth of that country, which abounds in almost every thing, we now proceed to relate that two of our ships above mentioned have been cast away in a storm near the mouth of the Red Sea, their commander Vincentius and above six hundred men having perished, but the other two were saved[5].  Another vessel, which escaped that dreadful tempest, was soon afterwards dashed to pieces against a rock; so that the sea was covered with dead bodies and with rich merchandize of all kinds:  Thus, as the proverb says, wealth ill acquired is ill lost.  Of all these ships one small caravel only rode out the storm, and brought intelligence of the destruction of the others.

We have now to inform you, that our king has given permission to all who choose to proceed to India and to carry on trade, providing that he is paid a quarter part[6] of all returns, and that they purchase from him for the purpose such ships as he thinks proper, and the price of these ships must be paid before setting out on the voyage; because, considering the loss of ships which he has already sustained, he is desirous that others should now bear the risk:  It will therefore require large funds to embark in this trade, so that we hardly believe the king will find any to engage on these conditions; but of this we shall inform you from time to time as it may occur.  It must not, however, be concealed that the circumstances of this trade are by no means established on certain principles, which can only be determined by future events.