Bill Hallorane, a highly talented but flawed seaman, has always had to play second fiddle to Alan Todd. His bitter cup runs over when he is moved to the liner which is captained by Todd, and a drunken orgy, which leads to a fire on the ship, has him sacked by Todd. His long-suffering wife, Mary, also turns to Todd, and Hallorane burns with the desire for vengeance. By pure chance, he meets up with an old shipmate from the submarine he and Todd served on during the Korean war and finds that it is mothballed in a Scottish loch. They steal the sub, with the intention of waylaying Todd's liner in mid-ocean and stealing the gold in its vaults. The plan progresses, but Fate, as always, is waiting in the wings.