Phantasmo and Whizzer discover what appears to be an abandoned yacht on the waterfront, but soon see that it is armed well enough to be a modern pirate ship. The skipper and crew surprise them, capturing them and attempting to take them on a "one-way" voyage when the crew receives news that the Olympia has been torpedoed while carrying some valuable jewels. It's up to Phantasmo to stop the pirates and recover the jewels.