The Katherine Sharer holds a special place in Tasmanian maritime and diving history. According to the Marine Life Network guide, she was the first major trading vessel constructed in Tasmania, built with teak beams resistant to shipworm, and she was destroyed by an explosion in Port Esperance on 6 June 1855. The wreck was also the site of Tasmania's first sport dive, in 1944, and of the state's first diving fatality, in 1858, during salvage work.

Today the remains are dispersed across the bottom in about 15 m, with scattered cargo and timbers; the explosion's force is shown by wreckage found some distance away on the Lomas Point reef. The teak beams have survived remarkably well because of their resistance to shipworm, and they are encrusted with marine growth – sponges, ascidians and algae – that shelters fish and invertebrates. Leatherjackets, wrasse and small reef fish frequent the site.

It is a historical dive rather than a structural one: divers come to trace the scattered remains and appreciate the story. As a wreck of 1855 it is protected under heritage law; nothing may be disturbed or removed, and any finds should be reported. Port Esperance is relatively sheltered, so the site can be dived when the exposed far-south coast is rough.

Combine it with Lomas Point Reef nearby, where more debris from the explosion lies among the boulders. Divers with an interest in maritime archaeology should contact Heritage Tasmania for background before visiting. A torch helps to pick out the teak timbers and the growth on them.

Dover is on the Huon Highway about 85 km (1 hour 20 minutes) south of Hobart via Huonville and Geeveston. There are boat ramps and jetties at Dover and around Port Esperance. The wreck lies in Port Esperance near Lomas Point on the bay's southern side, a short boat run from Dover.

The site is dispersed; use a sounder and local knowledge to locate it, and anchor clear of the wreckage.

The far south – Port Esperance, Southport and Recherche Bay – opens southward to the Southern Ocean. Southerly and south-westerly swell and strong southerly winds make the exposed sites unworkable and quickly reduce visibility, while northerly and light westerly winds give calm water. Sheltered bays such as Port Esperance and inner Recherche Bay remain diveable in moderate conditions.

Weather changes rapidly and fronts arrive every few days; plan around high-pressure systems in late summer and autumn and watch for south-westerly changes. Port Esperance is relatively sheltered, so the wreck can be dived in moderate conditions that close the outer sites.

Descend to the main concentration of timbers at 15 m, then search outward in a pattern for scattered cargo and fittings, returning to the anchor. Continue towards Lomas Point to see more debris thrown by the explosion.

No regular operator; private boats and club expeditions. Underwater Adventures Tasmania runs occasional far-south trips (the Acteons are mentioned by Go Dive Tasmania as a kelp-diving area).