Meet the site
Horseshoe Bay, the long north-facing beach at the end of Magnetic Island's main road, hides two modern wrecks listed in the North Queensland Underwater Explorers Club's local wreck index. The Argonaut II was a double-masted auxiliary ketch of about 200 tonnes and 40 m length that operated as a licensed floating restaurant before catching fire and sinking in 1978; she lies in about 6 m, roughly 300 m west of the eastern inlet. The Balmunda, a commercial prawn trawler, caught fire and sank at her mooring in 1981 and lies about 500 m offshore in 3–6 m. Neither wreck is well documented as a dive. Both burned before sinking, and more than four decades in a shallow, silty bay have reduced them to hull remains and machinery colonised by algae, sponges, soft corals and small fish. They are best treated as a pair of shallow curiosities for divers staying at Horseshoe Bay with access to a small boat, rather than as destinations. The bay also contains the Morning Light, a schooner later used as a lighter, lying in 0–2 m about 40 m from the creek mouth, and because it faces north, the bay is calm in a south-east trade wind when the island's eastern bays are rough. Visibility, however, is usually poor – 2–6 m – because of the sandy, silty bottom and boat traffic. Horseshoe Bay has a stinger net in season, a ramp, cafes and a pub, making it an easy base. The sites are in a busy boating area with jet-ski and water-sport hire, so a dive flag and a boat tender are essential. Data confidence is low: positions come from the club index, and current condition is not recorded.
What you might see
Small reef fish, gobies, juvenile fish, sponges, algae, soft corals, rays on sand
Location
Two shallow modern wrecks in Horseshoe Bay on Magnetic Island's north coast – the ketch Argonaut II (6 m) and the prawn trawler Balmunda (3–6 m).
Facilities nearby
Horseshoe Bay boat ramp, parking, toilets, cafes, pub, water-sport hire; stinger net beach.
Before you make plans
Conditions, access and operator schedules can change. This is a location guide, not a dive plan. Ask a local operator about current conditions and suitability for your training and experience.
Sources & further reading
nquec.org.auRecord updated 26 Sept 2026. Source claims are being reviewed.