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Varvassi was a 3,875-ton Greek merchant steamship that was wrecked on the Needles rocks in 1947. It was carrying a cargo of tangerines from Algiers to Southampton. The ship became wrecked after an engine failure in stormy weather, and drifted onto the rocks. When an attempt was made to haul the ship off the rocks, she flooded and sank. All 36 crew were rescued unharmed, as was approximately one third of the cargo of tangerines and wine.
There are still remains of the wreck lying just below the surface. Some parts of the wreck can be seen at very low tides. The wreck constitutes a hazard to small craft that attempt to sail too close to the lighthouse.
Any race around the Island has to face the obstacle of the Varvassi wreck site. Yacht racers see the passage between Varvassi and Goose Rock as a shortcut, many however miscalculate this.[3]
On 20 July 2023, the UK registered motor vessel Channel Queen grounded as it passed over the Varvassi wreck near the Needles lighthouse, Isle of Wight, England while escorting a relay swim event around the island. Channel Queen was then deliberately beached in nearby Scratchell's Bay. Channel Queen was a total loss, and some on board suffered minor injuries.[4]