This quest was marked obsolete by Blizzard and cannot be obtained or completed.
Search the wreckage of The Flying Osprey in the Wetlands.
The shipwrecks off the shore here are the doomed Third Fleet of Kul'Tiras, burned and sunk by Red Dragons during the last Great War.
The Fleet hailed from Lordaeron, but one ship, an Elvish Destroyer: Flying Osprey, was with it. It was shipping a load of Lightforge Iron and joined the Third Fleet for protection. Ironic that it sunk to the same dragons...
Enough history. The Flying Osprey is wrecked to the south of Menethil Harbor. If you find the Lightforge Iron there, bring it to me.