The ship was discovered in 2012 during the exploration of the ancient harbour structures of the ancient settlement of Phanagoria by the underwater depart-ment of the Phanagorian expedition of the Institute of Archaeology of the Russian Academy of Sciences (IA RAS). The remains measured nearly 16 m in length, and the port side on which the ship rested was preserved up to the caprail. In 2014, a bronze casing decorated with a crescent accompanied by a five-rayed star, was found 1.5 m to the west of the keel extremity. This symbol on the bronze casing gave arguments for identifying the ship with a military unit associat-ed to the uprising of Phanagoria against Mithridates VI Eupator in 63 BCE. In 2019, the Centre Camille Jullian (Aix Marseille University, CNRS) joined the IA RAS in Phanagoria. The ship was entirely re-opened and the team complet-ed the study of the ship structure, and of some timbers previously recovered thus collecting important evidences for the general interpretation and reconstruction of the ship. This paper presents the recent work conducted to re-examine and reinter-pret the remains, and to reconstruct the original shape of the ship of Phanagoria.