After a run of short hauls, the once powerful Captain Flint faces mutiny by his own crew. John Silver joins Flint's pirate ship, hiding something of great value from his captain.

Flint unmasks a thief on his crew. Rackham chases a score over Vane's objection. Silver hides with Max in the brothel. Eleanor faces an impossible choice.

Flint and Gates seek a partner to hunt the Urca d'Lima. Silver helps Billy with a morale problem. Vane impresses Eleanor by being reasonable. Gates gets a promotion.

The Walrus crew's venture ends in disaster. Silver warns Flint about Billy. Rackham and Bonny try to regain their livelihood. Eleanor seeks her father's help.

Flint and the Walrus crew play a deadly chess match on the open sea. Richard forces Eleanor's hand. Rackham makes a career change. Bonny confesses to Max.

The costs of chasing the Andromache continue to mount. Eleanor needs Silver's help. Billy wants Gates to confront Flint. Bonny takes a stand.

Flint tells Gates the truth. Randall puts Silver in a bind. Eleanor suffers a loss. Max comes to Rackham's aid. Vane enters the fight of his life.

The hunt for the Urca is on. Everything changes for Eleanor. Bonny and Rackham's sins come back to haunt them.