"It could very well be a reference to Jesus Christ," said Frank Goddio, co-founder of the Oxford Center of Maritime Archaeology. He and his colleagues found the object during an excavation of the underwater ruins of Alexandria's great ancient harbor. The Egyptian site also includes the now submerged island where Cleopatra's palace may have been located.
"It is very probable that in Alexandria they were aware of the existence of Jesus and of his legendary miracles, such as transforming water into wine, multiplying loaves of bread, healing the sick, and the story of the resurrection itself."
No, its not the Holy Grail, but it is a fascinating and thought-provoking archaeological find.