Port Fairy Visitor Information Centre manager Andrea Lowenthal said a host of unusual links between the town and the ill-fated ship sparked the development of the weekend to coincide with worldwide celebrations of the day the Titanic was launched in Belfast, Ireland.

"Port Fairy was called Belfast from 1843 to 1887, named after the same place where the Titanic was launched," she said.

Ms Lowenthal said the shipwreck coast's tragic history, legend of the Mahogany Ship and maritime heritage all had parallels to the story of the Titanic.

"The Titanic has captured the attention of the world, everyone knows that tragic story," she said.

The Port Fairy Citizens Band will play at the Village Green markets, visitors will be able to try and trace the ship their ancestors came to Australia on with help from the Port Fairy Genealogical Society members, see the Port Fairy Historical Society's special display about the Mahogany Ship and other wrecks in the south-west's waters and the launch of the town's historical lifeboat.

"I think the market with the band playing will be a nice feature of the weekend and the launching of the lifeboat is always good to see," Ms Lowenthal said of the weekend's events.

"Lots of local people think it sounds great and plenty of businesses are getting into the spirit of the weekend."

For more information and a full list of events visit www.visitportfairy-moyneshire.com.au or contact the Port Fairy Visitor Information Centre.