Ship of Despair is the Dungeon located in Alt. Dimension - Ironwheel Beach. It contains 6 bosses.
To be able to enter the dungeon, you will need to complete the quest Belly of the Beast 5.
The Layout is the same as the Crying Sailor Dungeon.
Like most dungeons, this one has a mission order that can be opened only by levels 77-84.
However, there is no Main Quest for this dungeon.
The rewards from this MO is 180 gold and a title, Ship of Despair Inquisitor.