Wreck of boat's damaged by time (8)
I believe the answer is:
sabotage
'wreck' is the definition.
(I've seen this before)
'boat's damaged by time' is the wordplay.
'damaged' indicates anagramming the letters.
'by' says to put letters next to each other.
'time' becomes 'age' (age is a kind of time).
'boats' anagrammed gives 'sabot'.
'sabot'+'age'='SABOTAGE'
'of' is the link.
(Other definitions for sabotage that I've seen before include "Treachery!" , "Deliberate damage (eg, in wartime)" , "spoil things" , "Got a base (anag.)" , "cripple" .)