Malaysia Flight 370 Image Processing
There's little chance of getting any useful info from that one photo.   

What would help is to have a series of photos.  With a series, even all from the same angle, one could average out the moving waves and align the suspected object.  It would be interesting to see if the object is tilting, bobbing up and down, or otherwise moving.  

Images from different angles would help determine the 3D shape of the object, and determine if it's on the water surface, partially submerged, or entirely under but near the surface. 

There's unlikely to be any interesting image processing work here, just routine contrast adjustment, some smoothing out of noise, maybe a bit of sharpening.