Today, it is a sheltered harbour hosting a ferry service to Caribou, Nova Scotia, operated by Northumberland Ferries Limited, and a busy fleet of small craft fishing vessels. The southwestern shore of the lagoon forming Wood Islands Harbour is also the southernmost point in Prince Edward Island with coordinates 45º56'54.5"N, 62º45'19.3"W. The entrance to Wood Islands Harbour in Prince Edward Island is at Latitude 45.9484 and Longitude -62.7518. It is designated a 'Core Fishing Harbour' – noted as critical to fishing and aquaculture industries, and it is now being managed by Harbour Authority of Wood Islands.