The Karnitol Shipwreck

Greetings, friend. Have yerself a seat here... My first order of business is for the mage Karnitol--a noble of some sort in Stormwind. Seems his ship was attacked by sea giants while off the coast in the northwest of Desolace. He and his servants tried to bring one of his more valuable chests ashore, but when the sea giants attacked in droves, he chose to abandon it and teleport himself and his servants to safety. He wants us to find the chest and its contents, and return it to him in Stormwind.