The shipwreck lies near Riga, next to the mouth of the river Daugava.

According to the information on the internet , the concrete ship “Lady Cotlin” has sunked in Autumn 1951 during the storm, when the captain, entering the Daugava, has somehow missed the entrance to the Riga port.. The other version says, that the ship was sunken intentionally to get the insurance.  The wreck, which slowly erodes under the impact of the salty water, lies ca. 200 metres from the coast and forms an impressive sculpture, suplemented by icicles. Thanks to the cold winter, this year it is also accessible on foot.

And, finally, the shipwreck on Google maps:
View Larger Map