The Big Dictionary of Dreams

by Martha Clarke
To drown in a shipwreck reveals a feeling of distress, which has lasted some time, due to a project that has not prospered or a personal relationship that has failed, leading you to believe that “all is lost.” Normally, a dream of this kind indicates that you have taken on too many responsibilities. Therefore, it can be interpreted as a warning that you should rest or take a short break. You have reached the limits of your strength and you need to recharge. (See WATER, BOAT and SHIP)

The Curious Dreamer’s Dream Dictionary

by Nancy Wagaman
A mishap, crisis, or disaster (or fear of such).

Something in your real life you perceive as a disaster or huge disruption.

Something that ended in an abrupt or unexpected way (such as a phase, project, activity, or relationship).

Evidence of something gone awry (or a fear of such).

See Broken Object, Disaster, Accident, Boat, Descending

Little Giant Encyclopedia

by Klaus Vollmar
The image of a shipwreck is often connected to the feeling of failure, as is the Breach in a dike; while, on the other hand, it may point to a positive development.

The distance to the Water—meaning to feelings and needs—is removed.

A shipwreck can also mean an outburst of emotions, where the dreamer is acknowledging his passions.