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The ship itself can consist of several types of wood, and can generate fully, or only partially, in a variety of configurations. Each shipwreck will spawn with at least one chest, but some can contain up to three chests, if the ship is fully intact.
The lower section of the ship will generate a chest full of mapping items. This chest is guaranteed to hold an Exploration Map, leading players to Buried Treasure, along with paper, books, feathers, clocks and compasses.