In September 1869 it ran aground on a coral reef near Shadwan Island[?] in the Red Sea. Expecting rescue, the passengers and crew stayed on board for some time, and were just beginning to enter the lifeboats when Carnatic broke in half. Thirty-one people drowned. The survivors made it to barren Shadwan, where they were rescued the next day by a passing ship, Sumatra.
Onboard Carnatic was £40,000 worth of gold (well in excess of £1,000,000 in modern terms), so the wreck was the subject of a salvage operation barely two weeks later. All the gold was reported recovered, but persistent rumours of remaining treasure has added to the romance of the ship.
These days Carnatic is a popular scuba-diving destination.
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