West Indies - 1760s: Lt. Ramsay, RN has fallen in love with Angela, the daughter of his captain who resolves to accomplish his ruin and has him dismissed the service on a trumped up charge. He then presses him as a common seaman, and maroons him on a desert island.
Ramsay's friend, a mysterious corporal of marines, strangles the captain and drops the body overboard after which the crew mutiny and elect him as their leader. The mutinous frigate attacks a ship carrying Angela which, a waterlogged wreck, drifts ashore on Ramsay's island.
Meanwhile the corporal plans to disguise the frigate as the dreaded Flying Dutchman.