 In 1840, America s line life is the sea, with an intense commerce. In Key West shore, two ship savage companies dispute the wrecked vessels. The honest one belongs to the impulsive Loxi Claiborne (Paulette Goddard) and Capt. Phil Philpott (Lynne Overman) and the other one is owned by the unscrupulous pirate King Cutler (Raymond Massey). While rescuing the crew of the ship "Julliete", wrecked on the reeves by the First Mate Mathias Widgeon (Victor Kilian), Loxi falls in love for Captain Jack Stuart (John Wayne). She travels to Charleston to defend Jack and convince the ship owner to give the position of captain of the new steamship of the company, manipulating the powerful shipping company lawyer Steve Tolliver (Ray Milland), who also falls in love for her. This triangle of love leads Jack Stuart to bad and fatal choices.