When a giant anchor falls onto SpongeBob's house, Squidward, SpongeBob and Patrick decide to climb the anchor, and they find the boat of the Flying Dutchman, who imprisons them.

Squidward enlists the aid of SpongeBob and the rest of Bikini Bottom to form a marching band to impress Squidward's old high school rival, Squilliam Fancyson.

At boating school, a new student shows up, but he says he's gonna kick SpongeBob's butt!

When Mr. Krabs feels like an aging old man, he tries to feel young again, so he goes out with SpongeBob and Patrick for a night on the town.