Captain Flint is warned about Billy. Vane encounters someone from his past. Eleanor asks her father for help. The crew of The Walrus suffer a disastrous undertaking.

Flint returns to Nassau and encounters a dilemma. Eleanor turns to an unlikely source for help. Rackham works to restore his reputation. Vane gets an unexpected prize.

The Walrus crew battles the elements. Teach and Rackham have a disagreement. Rogers and Eleanor set terms for their partnership. Bonny fears for her future with Max.

Max has a run-in with the law. Rogers reckons with the past. Flint and Madi come to an understanding.

Flint urges caution on an angry Silver. Max leads Rackham and Bonny up river. Billy locates a survivor. Rogers learns the truth.