*Spoilers* Two Ghost Ships

[Fraxinus]

you might be right but the treasure on it in ww is a triforce shard and in ph there was none still confuses me like you mentioned. But I have a feeling you are right.

 

[Master Kokiri 9]

Interesting, but naaaaw.

You see, obtaining the treasure in the Ghost Ship in The Wind Waker really doesn't effect the story- if you don't do it, nothing changes story-wise; if you do obtain it, all it really does is effect YOUR map, not the story. That would explain why nothing was said about it in Phantom Hourglass. It's basically carrying a big mystery from one game over to another so that it could be further explained. Clever, IMO.

[THE OCEAN KING]
"The Ghost Ship was made to drain that life force. They used a story of treasure to lure people in. It wasn't enough for Bellum to steal MY life force. He had to take what little he could from the people. Tetra must have had a bold, vibrant soul. The Ghost Ship was drawn to that power. She didn't find it... It found her." (SOURCE)

This quote lets us know that the Ghost Ship was an object created for a certain purpose. Had more been created, they'd have been mentioned.

Zeruda while it probably is true that if there were multiple ghost ships created by bellum they both would've been mentioned you must tackle the ww ghost ship in order to progress through the game eventually. And also if they were the same ghost ship then link would've told her to be careful cuz he had been there himself and the mute thing doesn't work cuz he does talk but we just don't get to read the text. Anyways the ww ghost ship and the ph one are two different evil vessels.