Since Shipwreck Island is a Small Island, it does not have any antennae, and as such does not appear on the Receiver meaning the player will have to spot it manually. There is a lot of scrap in the surrounding ocean, though it doesn't contain many other resources. Unlike other Small Islands, it contains two diggable patches of Dirt, one Cave Mushroom, and three Silver Algae. There is also two Poison-Puffer in the surrounding water.
Players receive the achievement O Captain! My Captain!? for visiting the Island and its Abandoned Ship.