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.

Flint gives Dufresne some advice. Silver must make himself indispensable. Eleanor is asked to depose a captain. Rackham gets ambitious.

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.

Flint threatens Vane. Eleanor chooses a side. Rackham learns what Max is capable of. Silver reunites with an old friend.

Eleanor mediates a peace. Rackham learns a hard lesson. Flint goes back on a promise. Bonny goes out of control.

Max surveys the aftermath of a massacre. News from the outside world impacts Flint and Silver. Eleanor takes a risk that she hopes secures her future. Bonny comes to a crossroads. Dufresne provokes Billy to act.

Flint and Miranda prepare for a tough go of it. Silver becomes enlightened. Eleanor learns Max's secret. Vane makes a move.

Flint and Miranda come to grips with their past. Bonny makes clear her intentions to Rackham. Vane collects a huge prize. Eleanor issues a declaration of war.

Flint acquires an unlikely ally. Vane's crew seeks a sea change. Silver makes a sacrifice.