In the English Channel John Sands, captain of a small rescue ship, finds the freighter Mary Deare drifting. Although there's only a little fire, the whole crew seems to have left the ship. John's already looking forward to a large salvage fee, but then he finds first officer Gerald Patch still on board, who sends him away. Although he doesn't understand yet what happened on the Mary Deere, Sands allows Patch to persuade him not to talk about what he saw on board and to drag out the official investigation of the incident.

After discovering a passenger ship missing since 1962 floating adrift on the Bering Sea, salvagers claim the vessel as their own. Once they begin towing the ghost ship towards harbor, a series of bizarre ocurrences happen and the group becomes trapped inside the ship, which they soon learn is inhabited by a demonic creature.