In 2008, a late-12th-century merchant ship was discovered off the commercial port of Rhodes. The vessel caught fire before sinking and thus numerous hull timbers were found charred. Three main degrees of charring have been recorded that presented major chemical differences which indicated different conservation requirements. This study investigated the correlation between the chemistry of the waterlogged timbers and their physico-mechanical properties, to assist in the development of an appropriate conservation strategy. Scanning electron microscopy documented the morphology of charred, semi-charred and uncharred samples. Moisture content and density were measured gravimetrically, while porosity was evaluated using mercury intrusion porosimetry. Hardness was assessed using a modified Janka test and a penetrometer. The results obtained showed that differences in chemistry were highly correlated to the physico-mechanical properties of the timbers. The charred wood presented the lowest moisture content, shrinkage and porosity among the three charring conditions and it also had the highest density, Janka hardness and resistance to penetration. The exact reverse properties were recorded for the uncharred material, which was typical of badly preserved, waterlogged wood. The semi-charred wood presented transitional features. These results indicate that the uncharred wood is in need of consolidation, in contrast to the charred and semi-charred material, which may be left to air-dry untreated.