It seems the Harbor is filling with shipwrecks. There is one right in the middle of the harbor at the bottom with only it's mast sticking up, and now Niles Gage has apparently brought another one to further endanger shipping.
With the Harbor revamp Niles Gage (you know the guy who's crew has been captured by Yaryar at Irestone Inlet) has been moved from near the entrance to the Cerulean Hills and placed at the old Stormreach starting point once you get past Korthos Island.
The unfortunate thing is (well beside the additional wrecked ship he now has cluttering up the Harbor) is that his story really doesn't jive anymore. In one dialog, the Banshee (his ship) is a skeleton at the bottom of the sea. In another he just barely made it in to the Harbor before it went down - but was burned...huh? Sure doesn't look burned.
My suggestion to clean up this mess is to remove the shipwreck he is standing next to and place a rowboat (lifeboat) there, then remove the sentence, "As you can see..." from his dialog. It makes much more sense that he used the lifeboat to survive after the attack, and now needs help rescuing his crew.
If need be, maybe place one of two sailors in the rowboat as additional survivors since Niles says, "most of my crew was captured" after the Banshee was set ablaze by Mage Fire and sunk.