If you start driving east from Arrecife, after just a few minutes, you will arrive to a beach from which you can see a shipwreck (open it on Google Maps). You can stop just a few dozen meters from there in front of the building.
The shipwreck is here since 1981 when the ship was passing by Lanzarote and they got in trouble — the water was leaking in. The crew wanted to go to Arrecife port, but it was denied. It makes sense, because if you are a port operator, the last thing you want is to have a sunken ship in the middle of it :-)
Instead they were directed to this shallow sandy bay, where the ship got stuck. It has been there ever since. As the ship is getting rusty, they plan to remove it. But they have been planning it for a long time and nothing happened yet.
It is forbidden to swim to the ship as it may fall apart at any moment. However, when we were there at the beach, some people were jumping from the ship to the water. Unbelievable!
If you are interested, I found this video of somebody diving around the shipwreck: