Dangerous Waters is a location introduced with the Wrath of Stormheart expansion pack, but it's accessible by all players (not an expansion exclusive).
Normally it's just a sea spot with a rocky islet, where the spawning spot and the World map stands are. But during a quest of the expansion pack, Stormheart's terrible ship, the Tempest, will be there.
Dragons that live on the Island
Edit
none
The Luminous Krayfin accompanies you during a quest of Wrath of Stormheart expansion pack.
Characters
Edit
none