The freighter was barely visible in 1989 - just the top of a mast protruding from the water and a shadow below the surface.
I'd read Louise Sacchi's superb book 'Ocean Flying' thoroughly before embarking across the pond and expected the wreck to be the prominent confirmation (of being in the correct fjord for the airfield) which she described. It was no doubt prominent when she wrote the book - 10 years earlier.
We were lucky with the weather so, even in those pre-GPS days, it didn't matter - but if the weather hadn't been as good we might well have missed it.
Louise Sacchi made about 350 ocean crossings, Atlantic and Pacific, in single and multiengine aircraft. They even named a street in Gander after her - "Sacchi Avenue".
I'd recommend her book to anyone thinking of crossing the Atlantic in a light aircraft, or interested in reading about it.
(Edit)
Here's a picture of the airfield I found on the net. My pics are pre-digital.
FL