The Cornelius is a ship that was used by House Valvida during events before Pirate101.
Before the events of Pirate101, the Cornelius was a proud war ship under the command of House Valvida. The Valvida Brothers used it to carry away all of their loot following the War of La Mancha. Alas, the ship would never reach Gibbonia- the Valvida homeland. Thanks due to a storm, the entire crew and ship crashed into Diablo Cut.
By the events of Pirate101, the player has found the Cornelius derelict, abandonded and beyond repair (thanks due to large, red tentacles wrapping around the ship). The player searches it for the Monkey's Paw, but finds nothing. Thankfully, a resurrected monkey aids the player in finding the Paw.