The recovered dive equipment of missing Melbourne woman Karen Lee appears to have been ripped by a shark.
Police have confirmed that the equipment, found during a long search for the missing Preston woman Karen Lee, belonged to the diver.
Inquiries with the dive group have given no indication that there was a shark in the area at the time of her disappearance and subsequent searches have not shown any indication of shark activity near the dive site.
Police have now called off the search for the woman and will prepare a report for the coroner.
Investigators have also confirmed that the equipment they found at the dive site belonged to Ms Lee.
The woman went missing while diving on a ship wreck between Point Lonsdale and Barwon Heads on the Bellarine Peninsula on Saturday.
During an extensive search of the area, police recovered a buoyancy vest, a camera and a regulator.
They confirmed this afternoon that the equipment belonged to the missing women and that it had been damaged by a shark or some other marine life.
The woman, an experienced diver, had finished diving with a charter group around the wreck of the SS Coogee in an area known as "Ships Graveyard" when she was separated from her dive buddy while on the way back to the surface.
Volunteers have searched beaches in the area and on the other side of Port Phillip, at Point Nepean and Sorrento without success.