The most famous landmark of the island is the Navagio beach. It is a cove on the northwest shore, isolated by high cliffs and accessible only by boat. The beach and sea floor are made of white pebbles, and surrounded by turquoise waters. It is named after a shipwreck (MV Panagiotis), which sunk on the shore around 1980. The ridge area from Anafonitria has a small observation deck which overlooks the shipwreck, and there is a monastery nearby. The unique and stunning visuals of the location are a favourite for BASE jumpers, and each year a major event in the BASE calendar is held at Navagio, around the end of August.[citation needed]