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.

Bonny confesses. Rackham makes a life-altering decision. Richard forces Eleanor's hand. A chess match is organized for Flint and the Walrus crew.

Chasing the Andromache is a pricey endeavor. Eleanor needs help from Silver. Billy believes Gates should confront Flint. Bonny takes a stand.

Flint comes clean with Gates. Randall's actions cause problems for Silver. Eleanor suffers a loss. Max helps Rackham. Vane faces his biggest challenge.

The hunt for the Urca begins. Things change for Eleanor. Bonny and Rackham are haunted by their past sins.

The Walrus crew is stranded, with an army of Spanish soldiers standing between them and the precious Urca gold. With their crimes against their brethren no longer a secret, Flint and Silver must join forces in a desperate bid for survival.