The stamp is designed after a painting made by Ange Joseph-Antoine Roux, and is now in the Museum National de La Marine in Paris, France.
It shows us the boarding on the port side of the British bark ASTREA by the French xebec armed with 4 guns L’INTREPIDE under command of Capt. Giuseppe Bavastro an Italian in service of the French. (Frech sources give the ships as INTREPID and ASTRÉE.)
19 March 1803 between Tarife and Tangier the L’INTREPIDE attacked a British convoy of 30 ships under which the ASTREA, which he boarded and captured.
Not any info found on the ASTREA.
"INTREPIDO" The 0.20 cts value of the Paraguayan ship set of 1962 show a vessel (merchant or naval), that has a long commissioning pennant but no guns, being attacked by a felicca privateer called the "INTREPIDO" (spelt "INTREPIDE" on the stamp) commanded by the Genoese privateer Bavastro in service of the French. A vessel called "INTREPIDO" of 10 guns, owned by Bavastro was cut out of Malaga Harbour, on April 29, 1812 by HM boats commanded by Captain Thomas Ussher. It is stated that this "Bavastro" went to fight for the patriots of Venezuela in 1814 and it may be the same person called Babastro (B and V were interchangeable) in those days), that commanded the patriot brig "BOYACA" at the blockade of Cartagena (Colombia), in 1819, and ran away when the Spanish war vessel "CERES" entered the bay, leaving patriot Padilla in his smaller vessel to fight alone. Bavastro served France again in the 1830 Algiers Campaign. He died in 1833.
From Log Book April 1979 page 126 (E.J. Hogan)
Paraguay 1972 20c sg?, scott1430b
Sources: various web-sites