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 occurrences happen and the group becomes trapped inside the ship, which they soon learn is inhabited by a demonic creature.

A disgraced merchant marine officer elects to stay aboard his sinking cargo ship in order to prove the vessel was deliberately scuttled and, as a result, vindicate his good name.