Captain Guomundr and I continued patrolling the coast, and found a large ship broken high up on the cliffs. Apparently this one was once manned by hunters who were bested by their prey - a massive ice wraith snake thing. With the high vantage point it turned out to be another easy snipe fest, but for a change upon slaying the beast Guomundr became more talkative.
We just killed three of them...
He mentions a Captain Gamli at Dawnstar who had it in for the critter, and when we visit the old guy he is pleased at hearing the beasts demise. He also ushers us to talk with an female orc Captain named Ghoragdag at Windhelm as she also had fish to fry. And boy was it a huge fish.
Guess it ate... dragons?
This one was actually a difficult fight as it started really deep in the ocean where by default, I cannot fight. Only after out swimming it (and asphyxiation) back to the surface was the only time I could start plugging arrows into the beast. It was by no means defenseless either as it could jump out of the water and bite!
Still, in the end it was dead and both Guomundr and I were not. I call that a victory.