 Jennerson, the captain of a freight ship, loses his vessel when it hits what appears to be an old mine. The event is viewed as a tragic accident, which cost the life of one of Jennerson s crew. But the FBI, led by Erskine and Rhodes, is following up indications the incident was deliberately staged. Indeed, the mine, stolen from elsewhere, was newer than a World War II mine. Jennerson and an accomplice are after $40,000 in insurance money. What Jennerson doesn t know is that his wife is having an affair with the accomplice. At the same time, the sunken ship s cargo included chlorine, which create a deadly gas should its containers rupture -- and a tidal wave is approaching, which will rip the sunken ship apart.