[04-S] Deck-journals - Volume I TW II: Pirates of The Flying Fortress Guide
Last update: 11 May 2016
Beginning: Finding the first journal (described below).
It's best to do this short quest during the previous one - [03-S] Silk Gown. (If you've already done it, then move to the teleport in [2] to get to the island). After killing the enemies and before taking the gown, look for sloping rocks with flat surface in [3], shown in the picture below.
They'll help you get to the first part of the wreck. Once you're there, search a locked chest and take its contents, but above all, pick Captain's Journal - Volume I (you'll get 5,000 XP) and read it (additional 10,000 XP for completing the quest).
(Optional: You can also climb the rocks in [4] and to jump down on the second part of the wreck to search another locked chest. You can see the rocks in the picture below. Just be careful when taking a run-up - don't fall out on the other side of the ship!)
Go back to the quest [03-S] Silk Gown or do the next one.