The Coramba is socially and historically significant, as one of Victoria's worst shipwreck tragedies in living memory. Relatives of those who were lost are still alive, and the tragedy claimed the lives of fathers and breadwinners during the Depression. 17 lives were lost in the tragedy. The Coramba served the Western District ports and had replaced the Casino which had also been tragically wrecked two years before. The wrecks of the Casino and Coramba were the death knell for steamship services to the Western District as railways and road transport replaced shipping for trade. 'The Coramba Gale' in which the Coramba foundered is still one of the worst storms recorded to have hit Victoria, with widespread flooding, wind damage and property loss in the south eastern Melbourne metropolitan district.